I appreciate your reply and recognize the cynicism in your ending rhetorical question. I read that in late February of this year, US Congressman and majority House whip Tom Emmer introduced a new bill seeking to block the Federal Reserve (the Fed) from issuing a central bank digital currency (CBDC). Indeed, if the bill is successful, it …
I appreciate your reply and recognize the cynicism in your ending rhetorical question. I read that in late February of this year, US Congressman and majority House whip Tom Emmer introduced a new bill seeking to block the Federal Reserve (the Fed) from issuing a central bank digital currency (CBDC). Indeed, if the bill is successful, it will dent the hopes of the United States to roll out a CBDC, which has dominated the debate on crypto regulations. Notably, the Fed has not made it clear regarding unveiling CBDCs, but players in the technology as well as banking sector view it as an ideal move to counter the growth of cryptocurrencies such as Bitcoin (BTC)and Ethereum (ETH). At the same time he introduced the bill Fed chair Jerome Powell stated that a CBDC pegged on the U.S. dollar would significantly sustain the dollar’s global dominance. Overall, more global jurisdictions are increasingly researching on CBDCs. I certainly haven't seen or read a word about this.
I believe FedNow lies on the path toward CBDC. FedNow doesn't appear to have garnered much meaningful resistance. Certification of participant institutions began earlier this month.
A number of state legislatures are cranking up opposition to CBDC as well. You're right, over 100 countries are somewhere on the journey to CBDC. A handful have already implemented it.
CBDC represents a redefinition of the word "money". It is essentially a programmable token that will be declared "legal tender", thereby forcing merchants to accept it when offered as payment. I think it very likely that government payments such as tax refunds, employee paychecks, and social security benefits will eventually be accessible only via one's personal CBDC account at the central bank (or one of its several branches), thus "nudging" the public into acceptance. CBDC and Digital IDs together represent the complete loss of financial transaction freedom, and therefore the complete loss of personal freedom in general. If implemented successfully, it will literally be "game over".
Catherine Austin Fitts, John Titus, economist Richard Werner, and many others have described the threat posed by CBDC. I think it's our #1 threat. Look for Episode 108 at peakprosperity.com titled "Hello CBDC's, Goodbye Freedoms!", in which Chris Martenson lays out the basics and describes the current implementation status (Note: his presentation style is a little "folksey" but he knows what he's talking about).
I appreciate your reply and recognize the cynicism in your ending rhetorical question. I read that in late February of this year, US Congressman and majority House whip Tom Emmer introduced a new bill seeking to block the Federal Reserve (the Fed) from issuing a central bank digital currency (CBDC). Indeed, if the bill is successful, it will dent the hopes of the United States to roll out a CBDC, which has dominated the debate on crypto regulations. Notably, the Fed has not made it clear regarding unveiling CBDCs, but players in the technology as well as banking sector view it as an ideal move to counter the growth of cryptocurrencies such as Bitcoin (BTC)and Ethereum (ETH). At the same time he introduced the bill Fed chair Jerome Powell stated that a CBDC pegged on the U.S. dollar would significantly sustain the dollar’s global dominance. Overall, more global jurisdictions are increasingly researching on CBDCs. I certainly haven't seen or read a word about this.
I believe FedNow lies on the path toward CBDC. FedNow doesn't appear to have garnered much meaningful resistance. Certification of participant institutions began earlier this month.
A number of state legislatures are cranking up opposition to CBDC as well. You're right, over 100 countries are somewhere on the journey to CBDC. A handful have already implemented it.
CBDC represents a redefinition of the word "money". It is essentially a programmable token that will be declared "legal tender", thereby forcing merchants to accept it when offered as payment. I think it very likely that government payments such as tax refunds, employee paychecks, and social security benefits will eventually be accessible only via one's personal CBDC account at the central bank (or one of its several branches), thus "nudging" the public into acceptance. CBDC and Digital IDs together represent the complete loss of financial transaction freedom, and therefore the complete loss of personal freedom in general. If implemented successfully, it will literally be "game over".
Catherine Austin Fitts, John Titus, economist Richard Werner, and many others have described the threat posed by CBDC. I think it's our #1 threat. Look for Episode 108 at peakprosperity.com titled "Hello CBDC's, Goodbye Freedoms!", in which Chris Martenson lays out the basics and describes the current implementation status (Note: his presentation style is a little "folksey" but he knows what he's talking about).