Posted on 05/24/2021 2:13:45 AM PDT by RomanSoldier19
The US Federal Reserve took a step toward developing a digital currency as it announced plans to publish a research paper on the subject. The aim is to gather public comment and get the US play a "leading role" in the development of international standards, said Fed chairman Jerome Powell in a video message.
"To help stimulate broad conversation, the Federal Reserve Board will issue a discussion paper this summer outlining our current thinking on digital payments, with a particular focus on the benefits and risks associated with CBDC in the U.S. context," Powell said. "As part of this process, we will ask for public comment on issues related to payments, financial inclusion, data privacy, and information security."
(Excerpt) Read more at msn.com ...
So cute the silly wagging tongues proclaiming the death of cryptocurrency. And now the effort to "re-invent" the bitcoin/blockchain currency by our brilliant math-free government.
One purpose of a government-free currency is protection against the kind of inflation and intrusion crap taking place right now.
Good luck taking down the cryptocurrencies.
Of course it is. So wouldn't that be your digital currency with its ability to track your every penny and every transaction?
Here it comes...
I think what's even cuter is the wagging tongue of someone who spouts nonsense because they have poor reading comprehension skills. That dribble above is irrational and illogical. How could I be "proclaiming the death of cryptocurrency" when my point was that a FED CRYPTOCURRENCY was going to neuter HOBBYIST CRYPTOCURRENCIES? Plus I SPECIFICALLY mentioned BTC.
Welcome to FR silly wagging SHOUTING tongue person.
“The terrible part about this (among many!) is that the new currency will just be another inflationary coin too.”
Amen! And it will cost the power to transfer it each time it changes computers. Hands not required. But it will save printing checks and will be instant determination of lack of funds in the account if you can afford the debit card.
wy69
Digital currency will bring about an phase out of physical cash. As soon as that happens there will be an expiration date on digital currency (Spend it or lose it).
They really want to force consumer spending as part of their ability to control the economy. The Fed can screw around with Reserve Requirements and interest rates... but by golly they would love to tell consumers “That $1000 you have in your bank account will be worth only $900 in 30 days.”
Right now if they did that people would withdraw cash.
Don’t worry be happy. Every little thing gonna be alright. 😉
I'm fine. I just have problems sometimes keeping all your crackpot conspiracies straight.
“The US Federal Reserve begins looking into its own digital currency”
what for? it’s already got one: it’s called the “dollar” ...
The uninformed usually do. 😏
As I've said, I don't follow Q so I don't have the...unique info channels that you have.
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