Quote:The Federal Reserve Board on Thursday released a discussion paper that examines the pros and cons of a potential U.S. central bank digital currency, or CBDC. It invites comment from the public and is the first step in a discussion of whether and how a CBDC could improve the safe and effective domestic payments system. The paper does not favor any policy outcome.

“We look forward to engaging with the public, elected representatives, and a broad range of stakeholders as we examine the positives and negatives of a central bank digital currency in the United States,” Federal Reserve Chair Jerome H. Powell said.

The paper summarizes the current state of the domestic payments system and discusses the different types of digital payment methods and assets that have emerged in recent years, including stablecoins and other cryptocurrencies. It concludes by examining the potential benefits and risks of a CBDC, and identifies specific policy considerations.

Consumers and businesses have long held and transferred money in digital forms, via bank accounts, online transactions, or payment apps. The forms of money used in those transactions are liabilities of private entities, such as commercial banks. Conversely, a CBDC would be a liability of a central bank, like the Federal Reserve.

While a CBDC could provide a safe, digital payment option for households and businesses as the payments system continues to evolve, and may result in faster payment options between countries, there may also be downsides. They include how to ensure a CBDC would preserve monetary and financial stability as well as complement existing means of payment. Other key policy considerations include how to preserve the privacy of citizens and maintain the ability to combat illicit finance. The paper discusses these and other factors in more detail.

To fully evaluate a potential CBDC, the Board’s paper asks for public comment on more than 20 questions. Comments will be accepted for 120 days and can be submitted here.

Link

This is how it all ends.


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By doing this, it will be impossible for anyone to live “off the grid” at any level to which they feel comfortable. All monetary transactions will have the ability to be tracked regardless of how big or small. This will end the ability for anyone to complete private transactions.

Another shady power grab by the elites.


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I don't see the FED advocating for a digital currency anytime soon.

(01-20-2022 03:59 PM)B_Hawk06 Wrote:  By doing this, it will be impossible for anyone to live “off the grid” at any level to which they feel comfortable. All monetary transactions will have the ability to be tracked regardless of how big or small. This will end the ability for anyone to complete private transactions.

Another shady power grab by the elites.


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For the most part, but never under estimate people's ingenuity. About a decade ago, I was impressed when in one of the cases I was prosecuting I saw drug traffickers using silver as a medium of exchange. They'd give each other several 100 oz silver ingots as payments for drugs. That way no suspicious banking transactions being reported, it was all off the grid. If it goes all digital currency, I expect there to be some off the grid bartering like this alongside non-stste controlled digital currency like Bitcoin.

It might be time to end the Fed. Considering this is unimaginable

(01-20-2022 05:05 PM)Jugnaut Wrote:  

(01-20-2022 03:59 PM)B_Hawk06 Wrote:  By doing this, it will be impossible for anyone to live “off the grid” at any level to which they feel comfortable. All monetary transactions will have the ability to be tracked regardless of how big or small. This will end the ability for anyone to complete private transactions.

Another shady power grab by the elites.


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For the most part, but never under estimate people's ingenuity. About a decade ago, I was impressed when in one of the cases I was prosecuting I saw drug traffickers using silver as a medium of exchange. They'd give each other several 100 oz silver ingots as payments for drugs. That way no suspicious banking transactions being reported, it was all off the grid. If it goes all digital currency, I expect there to be some off the grid bartering like this alongside non-stste controlled digital currency like Bitcoin.

You won't be bartering your property taxes though

Well, digital currency controlled by the government eliminates future debt concerns. Just add some zeros to the end of the government accounts and viola - you have all the money you need, because who exactly would be monitoring the creation of additional “currency”?

It will work well when you have a social credit fine too, easy to collect.

Just remember that no law currently exists that says US currency is required for transactions, just that it has to be accepted as legal tender.

Saw and heard this coming a mile away and it has been talked about for quite some time. This is the cabal, whose fiat money and debt slavery system is collapsing, planning on trying to ensnare people into their own social credit type system, all to control you. They are terrified that cryptocurrencies that are decentralized and NOT under their control will proliferate and cut them out of their power and control.

If enough people are aware and awake, it won't happen. The Fed needs to be banished from this country. They are parasites.

Bwahahaha!

What idiot would go along with this? Fed digital currency. Welcome to The Farm.

First make all currency illegal. Next make precious metal hoarding illegal. Next give you “x” amount of days to exchange any of these at your local bank for digital dollars. Next decide some have to much and should be taxed and just take it from their digital share. Next decide those you need votes and security from have extra added to their digital share. Then decide the federal debt is to high and take half of everyone’s digital shares. Do all of this only after you make the government ruling class exempt from any taking of digital shares.

(01-20-2022 03:59 PM)B_Hawk06 Wrote:  By doing this, it will be impossible for anyone to live “off the grid” at any level to which they feel comfortable. All monetary transactions will have the ability to be tracked regardless of how big or small. This will end the ability for anyone to complete private transactions.

Another shady power grab by the elites.


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Yep, nothing but a power grab. If they want a civil war... this would do the trick.

Gold would go through the roof.

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So would ammo. Lol

Why do they call it a “civil war” when there is nothing civil about it? Just wondering since we’ll likely be choosing up sides soon.

A copy of voter registration role and if D next to your name, you’re the enemy. Run for your safe place.

We need to call it “The Purge.”

(01-20-2022 07:03 PM)rath v2.0 Wrote:  So would ammo. Lol

So how are you gonna buy either ammo or gold?

Buy it now?

Already did. Fuq ‘em all.

(01-20-2022 07:14 PM)rath v2.0 Wrote:  Buy it now?

Already did. Fuq ‘em all.

Yep...



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Isn't this exactly another reason that the guvmint wanted to be OUR bank instead of having so many already? Control, plain and simple...China would be proud or maybe that's where our people got the idea, I don't know, I don't live in China. I'm against that idea, big time. You let me handle my poor savings and keep your big nose out.

(01-20-2022 03:59 PM)B_Hawk06 Wrote:  By doing this, it will be impossible for anyone to live “off the grid” at any level to which they feel comfortable. All monetary transactions will have the ability to be tracked regardless of how big or small. This will end the ability for anyone to complete private transactions.

Another shady power grab by the elites.


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Also, a way to try and get rid of privacy coins, stable coins, etc...They hate the idea of privacy. Everyone should be against a government-owned CBDC.

$200 paper bill...yes
"Digtail currency"...NO!