FedNow

[Hawk_82]

Federal reserve digital instant payment system launches in July 2023.

I haven't seen this talked about, but I think it is extremely important.

It seems natural that this will lead to a cdbc and a consolidation of the banking industry.

The end of the dollar is near.

The federal government will soon have the power to determine how you Spend your money and if you don't follow their rules, they will have the ability to block your access to your money.

So let's hear what your thoughts are.

 

[bhawk24bob]

There’s no reason to go conspiracy theorist on this, it’s interbank A2A and B2B domestic payments that should remove nefarious actors that utilize fly by night “fintechs,” MSB’s, and TPPP’s to try and stay under the regulatory radar

 

[Chishawk1425]

Federal reserve digital instant payment system launches in July 2023.

I haven't seen this talked about, but I think it is extremely important.

It seems natural that this will lead to a cdbc and a consolidation of the banking industry.

The end of the dollar is near.

The federal government will soon have the power to determine how you Spend your money and if you don't follow their rules, they will have the ability to block your access to your money.

So let's hear what your thoughts are.

View embedded media

The New World order is coming for you!!!! 😆

 

[Hawk_82]

There’s no reason to go conspiracy theorist on this, it’s interbank A2A and B2B domestic payments that should remove nefarious actors that utilize fly by night “fintechs,” MSB’s, and TPPP’s to try and stay under the regulatory radar

Do you see how giving the government complete control of our money and our purchases could become a problem?

 

[bhawk24bob]

Do you see how giving the government complete control of our money and our purchases could become a problem?

That's not what's happening(?)

 

[Hawk_82]

That's not what's happening(?)

Can you tell me what is happening?

 

[VodkaSam]

I’m going to have to wait and see what Q says before I feel confident to weigh in on this.

 

[jawatkins]

Can you tell me what is happening?

Take all of you money and buy gold and silver. You don’t need paper money. Get on it.

 

[Fijimn]

Can you tell me what is happening?

No more float over the weekends...that is all.

 

[bhawk24bob]

Can you tell me what is happening?

I did, these are interbank A2A and B2B transactions

 

[ThorneStockton]

I can appreciate polite - seemingly harmless - conspiracy folks like the OP. Within a couple of hours he went from a nearly complete detachment from reality with apocalyptical like conclusions to a polite realization of: "Can you tell me what is happening?"

Very much different than the Q folks and typical politically based conspiracies.

 

[Hawk_4shur]

Can you tell me what is happening?

The same thing that is shown in that video, only a lot slower.

Near instant availability of funds and confirmation of payment sounds like progress to me.

 

[Hawk_82]

No more float over the weekends...that is all.

I did, these are interbank A2A and B2B transactions

I get that. On the surface this sounds great and I would probably even support it if it ended there.

Do you see A2A and B2B as the end goal? I know I don't. These are just first steps to 'harmlessly' get people on board.

Let say Biden and the current democrats truly are acting with good faith. Do you think all future leaders will also act in good faith and not use it as a way to control certain things? After all, the government is currently being investigated for weaponizing the dollar.

This should at least be taken into consideration.

 

[Formerly Rockymtnole]

I can appreciate polite - seemingly harmless - conspiracy folks like the OP. Within a couple of hours he went from a nearly complete detachment from reality with apocalyptical like conclusions to a polite realization of: "Can you tell me what is happening?"

Very much different than the Q folks and typical politically based conspiracies.

But now back to this is just the camel’s nose under the tent and first step to total control.

 

[bhawk24bob]

I get that. On the surface this sounds great and I would probably even support it if it ended there.

Do you see A2A and B2B as the end goal? I know I don't. These are just first steps to 'harmlessly' get people on board.

Let say Biden and the current democrats truly are acting with good faith. Do you think all future leaders will also act in good faith and not use it as a way to control certain things? After all, the government is currently being investigated for weaponizing the dollar.

This should at least be taken into consideration.

Do you say the same thing about interbank domestic ACH or most wire transactions? They all go through the FED right now except the intrabank transfers

And I don't care what Finetch, MSB, or TPPP somebody uses because they think they're acting independently of the banking system......they're not.

 

[Hawk_82]

Do you say the same thing about interbank domestic ACH or most wire transactions? They all go through the FED right now except the intrabank transfers

And I don't care what Finetch, MSB, or TPPP somebody uses because they think they're acting independently of the banking system......they're not.

I think some level of government involvement is probably necessary to maintain stability.

I do think there is a treat to democracy though. In the following article from the WEF. They say companies are going along with the ESG stuff, not because they are morally committed to this, but because of future financial concerns, specifically, raising capital.

Seems almost like manipulation to me. To think this won't also happen on an individual level is silly.

Here's why we must still focus on ESG, despite the backlash

2022 saw increased scrutiny of using environmental, social and governance metrics. But we must not lose sight of ESG as it is key to a sustainable future.

www.weforum.org

 

[Nole Lou]

Good read here before fully dismissing concerns as conspiracy theories.

CBDCs In Their Own Words: Technocrats Blackpill Us On The Future Of Money

In the most 2023 plot twist ever, one of the darkest global conspiracy theories we’ve ever heard is actually real.

www.return.life

 

[NDallasRuss]

Do you see how giving the government complete control of our money and our purchases could become a problem?

Isn't this like saying that since the government is providing the road, that they're going to have complete control over where you can drive?

 

[WhiteSoxClone]

I get that. On the surface this sounds great and I would probably even support it if it ended there.

Do you see A2A and B2B as the end goal? I know I don't. These are just first steps to 'harmlessly' get people on board.

Let say Biden and the current democrats truly are acting with good faith. Do you think all future leaders will also act in good faith and not use it as a way to control certain things? After all, the government is currently being investigated for weaponizing the dollar.

This should at least be taken into consideration.

The Fed is just building a competitor to the RTP (Real-Time Payments) Network that was recently (4+/- years ago) launched by The Clearing House. The Clearing House is a bank-owned entity that, among other things, processes payments. It is owned by something like 40 different banks, including all of the big ones. Many smaller financial institutions don't want to use TCH because it is owned by their banking competitors, and therefore wanted the Fed to building a competing payments network to RTP.

That is literally all that is happening here. It is very similar to how TCH has the CHIPS system for processing wires and the Fed has FedWire as a competitive alternative.

 

[Hawk_82]

Isn't this like saying that since the government is providing the road, that they're going to have complete control over where you can drive?

Not really. It is more like the feds will have the ability to track your gas consumption via transactions. If you exceed their carbon limits, then you may be fined for using too much gas, thus limiting how far you travel.

 

[Hawk_82]

The Fed is just building a competitor to the RTP (Real-Time Payments) Network that was recently (4+/- years ago) launched by The Clearing House. The Clearing House is a bank-owned entity that, among other things, processes payments. It is owned by something like 40 different banks, including all of the big ones. Many smaller financial institutions don't want to use TCH because it is owned by their banking competitors, and therefore wanted the Fed to building a competing payments network to RTP.

That is literally all that is happening here. It is very similar to how TCH has the CHIPS system for processing wires and the Fed has FedWire as a competitive alternative.

A digital currency is probably inevitable.

Do you know what laws are in place to prevent the feds from abusing it and what is in place to protect individual citizens privacy and their data?

With the introduction of ai, we have seen how companies can use our data to target us individually. This is the concern with cbdc. So what steps are we taking prior to implementing a digital currency?

Essentially we are following the China and India lead as well as others. I think it's clear that China is tracking and controlling the people with their technology. What stops the usa from doing the same?

 

[WhiteSoxClone]

A digital currency is probably inevitable.

Do you know what laws are in place to prevent the feds from abusing it and what is in place to protect individual citizens privacy and their data?

With the introduction of ai, we have seen how companies can use our data to target us individually. This is the concern with cbdc. So what steps are we taking prior to implementing a digital currency?

Essentially we are following the China and India lead as well as others. I think it's clear that China is tracking and controlling the people with their technology. What stops the usa from doing the same?

That is a different issue in my opinion. So far, the Fed has remained neutral on the idea of a digital currency. I honestly haven't followed the digital currency discussion very closely in the last few years as it has seemed to be an idea that has, at least temporarily thanks to the recent struggles of non-central bank backed digital coins, to have lost momentum. However, I think that you might find this paper interesting. Its 40 pages long, but the part you are probably interested in is on pages 13-20 (and the pages are short reads).

I commend you for asking questions about this stuff. Its important stuff that most people have no interest in learning about.

Believe me, I share a lot of your concerns about AI. And the news this weekend about Pinduoduo isn't going to make anyone feel good about the apps on our phones that we so freely and thoughtlessly download.

Fed White Paper on CBDCs

 

[desihawk]

I did, these are interbank A2A and B2B transactions

the run of the mill hroter is only familiar with A2M transactions. that said A2A and B2B sound equally disgusting.

 

[Hawk_82]

That is a different issue in my opinion. So far, the Fed has remained neutral on the idea of a digital currency. I honestly haven't followed the digital currency discussion very closely in the last few years as it has seemed to be an idea that has, at least temporarily thanks to the recent struggles of non-central bank backed digital coins, to have lost momentum. However, I think that you might find this paper interesting. Its 40 pages long, but the part you are probably interested in is on pages 13-20 (and the pages are short reads).

I commend you for asking questions about this stuff. Its important stuff that most people have no interest in learning about.

Believe me, I share a lot of your concerns about AI. And the news this weekend about Pinduoduo isn't going to make anyone feel good about the apps on our phones that we so freely and thoughtlessly download.

Fed White Paper on CBDCs

Interestingly, they specifically mention the preservation of the dollar as a potential benefit.

I don't agree with this at all. I think biden has gone away from oil and this has triggered other nations to make agreements to trade directly with Saudi Arabia in their own currency so they can avoid trading in dollars.

Once those dollars that are currently being used for oil by other countries are returned to the usa, the dollar will fall apart. The fednow and cbdc seems like a desperate attempt to keep the dollar relevant.

What do you think?

 

[NDallasRuss]

the run of the mill hroter is only familiar with A2M transactions. that said A2A and B2B sound equally disgusting.

Sometimes, in the heat of the moment, it's forgivable to go A2M.

 

[Speedway1]

The goal is to eliminate Cash. What on earth will the drug dealers do? Govt will have full control.
I already hate it.