Just wait until they offer you 150% of your balance if you make the switch to the digital currency.
Feels like smart thermostats on steroids. No thanks.
And with the CBDC will be its main feature, the end of all freedom in America.
Buy gold and silver. Lots of it.
The fed is going woke. It will go broke.
And the US DOllar will quickly no longer be the worlds reserve currency.
We will be US Min Ren Bi , Suck it up suckers!
Cash is still king.
“We couldn’t be more excited about the forthcoming FedNow launch, which will enable every participating financial institution, the smallest to the largest and from all corners of the country, to offer a modern instant payment solution,” said Ken Montgomery, first vice president of the Federal Reserve Bank of Boston and FedNow program executive.
Normally, I would think this quote would be satire from the Babylon Bee, but it’s not. Is it?
Your smallest purchase will be tracked and if you buy something they do not approve of your money will blocked just like the truckers in Canada.
I'll bet. Still, not a bug.
Total government control here we come
Do Da Do Da
They just might to let you live
Al the live long day
China cannot wait, this move will give China the control of the World’s Reserve Currency.
Frankly, I was surprised that Covid wasn’t exploited more for this end.
With a digital currency, the IRS, government intel, and law enforcement, can track you down to the very last cent. With a digital currency, the big financial institutions have essential ownership of all you money, all the time, and in most cases it simply swashes back and fourth between banks but always staying on their books. In many cases, the big financial institutions can charge more in fees etc.
This is a win-win for government and the big financial institutions.
And if that natural disaster happens to be a Carrington Event X 2?
...not to mention the most invasive toy any government ever hoped to obtain!
The right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures, shall not be violated, and no Warrants shall issue, but upon probable cause, supported by Oath or affirmation, and particularly describing the place to be searched, and the persons or things to be seized.
Digitizing your papers does not change the intent of the 4th amendment.
“To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;” Note the US Constitution explicitly gives the power to coin money. It does not mention anything about generating fiat currency. It’s ironic that Andrew Jackson’s portrait is on the $20 bill. Jackson would have dueled with the person that suggested that putting his likeness on fiat currency was a good idea.
There is a long history, going back to our founding to take “To coin Money” literally, as in minting coins with tangible value instead of printing paper with no tangible value.
Eventually we will have this system but it will be QFS so your digital wallet will be private to you only and not run through a bank. Hence no govt control of it. That’s going to be the difference between QFS and Fed coin. Nobody else can control your account except you.
oh, good grief, FedNow is nothing more than the Federal Reserve banking system’s effort to compete with PayPal, Venmo, Zelle, and other 3rd party instant cash transfer services ...
the current Federal Reserve “wire” transfer service is clunky, slow and expensive and being bypassed whenever possible by 3rd party services ... FedNow is attempting to bring the Federal Reserve’s cash transfer services into the 21st Century, about two decades too late to the party ...
not everything is a conspiracy ...
Note that Congress isn’t stopping this Final Solution to the conservative problem. We are F’ed.
The government never misses an opportunity to grow bigger and control more.
(From the article) :" The Federal Reserve Bank of the United States has announced that it is launching an instant payment transfer service called “FedNow Service,”
which has features of a Central Bank Digital Currency (CBDC) and some analysts believe is the first big step towards a “digital dollar.”
"On Wednesday, within hours of our reporting that the Silicon Valley Bank and Signature Bank failures could spur renewed calls for the U.S. to implement a CBDC,
the Federal Reserve announced that the U.S. is rolling out the FedNow instant payment transfer service in July."
“The Federal Reserve announced that the FedNow Service will start operating in July and provided details on preparations for launch,” the announcement read."
(My Opinion): Total government control over buying and selling by using electronic digital "0's" and "1's".
Originally proposed by international banks to electronically verify funds internationally, the Federal Reserve (Central Bank Digital Currency (CBDC))
wants to go digitally in the domestic market.
This move totally eliminates a 'Free Market Economy' based on Social Credit score, political posture, previous voting pattern, support for current administration policies, etc., etc.,
all of which can be misused by a manipulative, or misguided administration.
This will replace the "Mark of the Beast" domestically if implemented by the Federal Reserve
Everytime some mouth breather whines about immigrants sending remittances home and “draining America of dollars” I remind them that there is nothing magical about a piece of paper and that the government can always print more.