Just like the Internal Revenue Service, which we all would like to go back in time and NOT create, the Fed Now Service is now born. The launch is today at all small, medium and large banks nation wide in the USA.
It is sketchy whether this will be required or if it will be optional. I imagine it will be required because after all the IRS its not optional if you live in the states.
For almost ten years, I have been trying to present cryptocurrency to different people that I run into. In the beginning, I actually asked people to download a wallet and then gave them one Bitcoin so that they could try it out and see how easy it is. Back then a Bitcoin was only worth a dollar and the whole prospect of it becoming something was a bit crazy. I still run into many of these same people these days. I ask them about the $30,000 that they deleted because they thought it was kind of quirky.
Despite my efforts, only one in thirty kept the wallet and still use it. I still present real freedom money, bitcoin and its faster brothers, to store fronts, grocery stores, and convenience stores whenever I have time and the owner seems friendly. Still, there is a lot of resistance to move away from the "little paper rectangles" that people are used to. People think I am crazy for even suggesting that the paper has no value. The day of reckoning is at hand though, and again, they will see me in the streets and say "you were right".
In my opinion, the FED now service will become obligatory after some sort of crisis which forces people to accept it. Right now people may accept it simply because they think it is government sanctioned bitcoin. But it's not!
As I said in my last post, it may as well be a ledger written in pencil. This CBDC voids all the efforts and innovation of solving the double-spend problem which allowed real immutable transactions.
I had a lot of red flags pop up in my head as I read today's output from the Federal Reserve regarding this new "money" they have launched.
From the recent posts on the official Federal Reserve site.
Who are these "Governors" on the board? Did we vote for them?
They state that the financial system is "safe" and "stable" - I disagree.
Recent Postings
From the same site we have updates on the new 'fed bitcoin' and I have many problems with the wording vs. reality.
The first item - "Supervision" crypto has none and needs none. Paper dollars need not / can not be supervised. Next, we have "Climate-Related Risks" - If Obama, and many others, are not worried about their forty million dollar homes at sea level, there is no risk.
The second item - "G20" would indicate that this monstrosity will be global.
The third item - "Closed Meeting" - if the CBCD were on "The Blockchain" there would be nothing closed about it, everything is visible, and nobody would be meeting because any decision to modify the blockchain would be a moot point. Then again, we have these governors which are not elected.
I know that I am rehashing problems with the Federal Reserve and its structure and ownership. The problem is that they have messed up the money we carry and inflated it to the moon. There is a trust factor. Why should we trust them with a new, insecure, FIAT currency that gives them even more control over what we do with it? They have broken trust with the American people and should not be trusted for this change over to new money (due the their having destroyed the old one). For that same reason, they will likely try to make it obligatory.
It is a sure thing that the money you carry around with you will have a "flexible" balance. I mean, you are not the only one who can reach into your pocket and pull out cash, in this case, digital cash. If you are not complying with the latest faulty government mandate, your money can be frozen until you do. It is also likely that AI will be in charge of freezing, unfreezing, fines, and other carrot-and-stick methods to control your behavior. It's like automatic bill payment, but new bills come in and are debited without notice.
Good luck getting your AI representative on the phone.
Some of the current and upcoming topics.
Immutable Blockchains vs Centralized Chains of Ledger Entries.
Person to Person vs Person to AI-qualified-Person.
Consensus vs Government Permission to buy or sell.
Distributed vs Centralized servers.
Other news or topics as questions arise.
Thank you for stopping here to read about the latest form of control. If you have written a related article on this topic, please post it below and I will surely give a reblog.
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