Assuming this will NOT be PM-backed, it will fail. Quickly, IMHO.
Tandem to this, a few days ago, the FDIC said it was insuring the SVB deposits, not to $250,000, but to infinity. Doesn't matter what your deposit was, it will be insured - only way this can POSSIBLY be done is by printing more fiat, given that the FDIC's capitalization is a mere fraction of 1% of the $250,000-based deposits.
Except privacy.
We’ll see if it works better than the Obama-Care rollout.
One more piece of the puzzle on the path to the new currency.
Fed Now is only the settlement system.
Viewing this from a slightly different angle - the bank failures, now “fully insured”, are designed to corral us depositors, pawns/hoi-polloi, into a Chinese-style woke-scored financial system. More failures, more clamor to do something, that something being FedNOW (CBDC).
Welcome our new overlords!
The Fed already announced (Sunday or Monday) that they will be doing a “mini” QE. That will last for a bank failure or two and the computers will be generating billion and billions each day. All that when the Fed is upside down on its balance sheet by a trillion.
These people are not serious. We need some adults running things.
A digital wallet that will track every penny going in and out of the account.
If you give your children 50 dollars to mow the lawn, the feds will know about it and expect the child to pay taxes on it. It’s coming.
Ping to CBDC Digital Currency...
Can you spell out CBDC for me? Thanks. And shame on the article writer for not doing it in the first paragraph.
ping to you
Time to leave
Only another year or so until SloJo starts paying off my T-Bills in CBDC.
People need to start repeating FedCoin, FedCoin,FedCoin cause it’s about to make its appearance.
I try not to make light of Bible prophecies because so many of them have been fulfilled. How does anyone here think the clot-shots will relate to the Mark of the Beast?
There have been so many things that have been thought/claimed to be part of that prediction (Book of Revelation); census, social security numbers, computers, cell phones, satellites, clot-shots.
I don’t like the Feds having direct access to any of my bank accounts. Would always prefer to have a “wall of separation”.
“Certification encompasses a comprehensive testing curriculum with defined expectations for operational readiness and network experience....”
Combat
“With the FedNow Service, the Federal Reserve is creating a leading-edge payments system that is resilient, adaptive, and accessible,”
FedNowChat BeastMark
Keep gold in a hole in your yard. Arrr! Matey! Pirates are after yer treasure!
Most libtards will think it’s a new brand of cannabis.
How much social credits do you need to get your money?
CDBCs and Social credit scores mean the end of “/sarc” tags. For example, I could post this:
“I’m concerned the GOP House will defund this Great Leap Forward”
<< social credit score increases, UBI credited >>
The Fed AI won’t recognize my sarcasm there. For a while. But if tag it, I won’t be allowed to eat for a week.