Posted on 09/28/2022 10:51:05 AM PDT by Twotone
Jerome Powell, Chair of the U.S. Federal Reserve, has silenced the calls for a U.S. central bank digital currency (CBDC) to be issued in the near future, saying that the central bank has “not decided to proceed” with the issuance of a CBDC for the time being.
"We do not see ourselves making that decision for some time," he said Tuesday, speaking remotely on a panel about the role of central banks in digital markets to global financial leaders and crypto regulation experts attending a conference in Paris.
Powell indicated that the central bank would instead be working in collaboration with Congress and the executive branch to evaluate the policy and technological issues. This includes a multi-year period during which the Fed will focus on “building public confidence in our analysis and ultimate conclusions, which we certainly haven’t reached yet.”
The central bank Chair also said the Fed would need approval from the White House and Congress to proceed with a digital dollar.
As for what the central bank will be looking for in the creation of a CBDC, Powell identified four key characteristics: intermediated, privacy-protected, identity-verified, and interoperable.
“First is intermediated. The second is private privacy protected, but the third is identity verified, so it would not be anonymous. It would not be an anonymous bearer instrument. And fourth is transferable or interoperable,” Powell said. “We would be looking to balance privacy protection with identity verification, which has to be done in today’s traditional banking system as well.”
(Excerpt) Read more at kitco.com ...
It's the other way around. The FED is a private non-federal non-reserve entity representing the wealthiest banksters in the world, plus about 300 shareholders.
The FED tells the WH and Congress what to do, as directed by its owners and shareholders.
That means they have a plan and will sneak it through dead of night Christmas Eve this year.
Another related comment from Powell...
https://twitter.com/disclosetv/status/1574740981198749697?s=12&t=bXpZ0F1FF8DqoK24V7__UA
The four characteristics necessary for a CBDC are intermediated, privacy protected, identify verified, transferable or interoperable.
Although I’ve been convinced of it a long time ago, it seems that their language is increasingly “baity”(made up word).
They’re trying to bait people into saying things on social media, which could then, put them on the radar for the feds and in turn, have a raid team show up at their homes at O’Dark-Thirty.
These people are sinister. They are the ones causing every single problem on the planet.
Sadly, we continue to vote for the same tired, corrupt POSs that allow it. Sometimes because they’re the only choice. Sometimes because people aren’t willing to give someone else a chance, even though the incumbent has stabbed us all in the back over and over and over and over again....IE Graham, McConnell, Thune - pretty much every Republican Senator except for Rand Paul...and the House isn’t any different, with only a small handful being worth a damn.
And the state and local levels are no different. It’s gross beyond description.
So, that means that they soon WILL BE converting us to a cashless all digital ‘currency’ social credit score controlled economic society.
But on the bright side, maybe the same people behind this will end the world economy through nuclear war before they can eliminate cash..
In govt speak that means they’ll be issuing a digital dollar pretty soon.
privacy protected <> identify verified
Mutually exclusive. When dealing with the government, means individual rights, privacy and protection from the the government are thrown out the window and are meaningless in nature.
So they plan to do it very soon.
Winner.
I think, at some point, the tide will turn against them.
While I do think the world and the US are already a very mild version of The Hunger Games, with DC being Panem, elections in Sweden & Italy show that it isn’t lost...YET. Close, but not yet.
Lebanon has no more currency. The Iranians are losing it, rightfully, because they killed that girl over her hijab.
They all might end up like the Ceausescu’s, although they believe that they’re wealth will insulate them from anything like that.
Don’t trust a word this man saids.
they already have a digital dollar: it’s called “the dollar” ...
Seems like it to many.
Like mentioning pipelines in February, here’s an update on “no digital” control.
https://youtu.be/_HbeBjaH6-Q?t=421
All those illegal invaders & all the homeless will be over-joyed....
When they initiate the digital dollar, it is all over. You will lose control over every aspect of your life. You will not be able to buy unless they permit it. You will not be able to buy if you exceed your wokeness credits. You will buy as directed by them and if you don’t they will take your digital dollars anyway. If you don’t take your clot shot, they will take the $1000 a day penalty from your account. If you don’t spend your digital dollars when and how they want, they will expire and disappear. If you go to the store on the 15th and try to buy food, you will be denied if you have exceeded your carbon or protein limits for the month .... you can starve for the rest of the month. You will learn the true meaning of helplessness ... and Schwab thinks you will be happy about it.
What you’re describing is what they want, I know. But I haven’t given up hope yet. We still have a Supreme Court that every once in a while recognizes that we have a constitution. We will not be pushed so easily into this as the Europeans are.
What’s not said is that Congress is crafting a law that will require the FED to give greenback dollars to anyone who requests them. Our underground economy, especially in the democrat cities, runs on paper dollars.
That effectively kills the fascist CBDC despite whatever our usual doom and gloom trolls say.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.