Posted on 10/05/2021 6:19:51 PM PDT by RomanSoldier19
The Federal Reserve plans as early as this week to launch a review of the potential benefits and risks of issuing a U.S. digital currency, as central banks around the world experiment with the potential new form of money.
Fed officials are divided on the matter, making it unlikely they will decide any time soon on whether to create a digital dollar. Unlike private cryptocurrencies like bitcoin, a Fed version would be issued by and backed by the U.S. central bank, a government entity, as are U.S. paper dollar bills and coins.
Advocates say a Fed digital dollar could make it faster and cheaper to move money around the financial system, bring into it people who lack bank accounts and provide an efficient way for the government to distribute financial aid.
(Excerpt) Read more at wsj.com ...
It would also prevent all those money launderings of $600 bucks to offshore accounts by millionaires and billionaires.
And to track every dollar and tax it and to shut off your access to your money at any time if you don’t do what they tell you to do.
All your coinbase belong to US!
We are screwed.
This is so they can track all your transactions in a dossier and “turn off” your funds.
Say something they do not like, and you are an “insurrectionist domestic terrorist” with no way to pay for food.
on a relative scale, we are crashing as fast as Afghanistan did...
A few years late.
Note that very few if ANY of our so-called representatives are doing anything to protect us from this. We are in a sham democracy/republic.
The cashless society. That’s what they want
Majority of Americans don’t have $500 in savings
https://money.cnn.com/2017/01/12/pf/americans-lack-of-savings
Jan 12, 2017 · Almost 60% Americans don’t have enough savings to cover a $500 or $1,000 unplanned expense, according to a new report from Bankrate.
“The cashless society. That’s what they want”
El Salvador went the other way from the Fed: https://www.cnbc.com/2021/09/07/el-salvador-buys-400-bitcoin-ahead-of-law-making-it-legal-currency.html
I called this on gab when all the crypto-enthusiasts were croning about involitle bitcoin.
Was told I was crazy.
Fedcoin would be a disaster. I’m a huge proponent of private cryptocurrency especially Bitcoin, but a central bank crypto would really be bad. It supplants the entire purpose of crypto which is to create a non-inept financial system, which it’s doing and will hopefully continue to do. That said, fedcoin is inevitable.
Wow. I guess running the printing presses nonstop was just too much work.
They’ll never be able to use a U.S. federal government controlled digital currency for paying overseas trading partners. Any foreigner living in China or anywhere else in the world does want to hold wealth in a digital format that can be tracked, controlled, and turned off by the U.S.
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