Lael Brainard - Vice Chair of the Federal Reserve
(May-26-2022) Testimony by Vice Chair Brainard on Digital Assets and the Future of Finance: Examining the Benefits and Risks of a U.S. Central Bank Digital Currency
https://www.federalreserve.gov/newsevents/testimony/files/brainard20220526a.pdf
3rd page of text (4 of the pdf)
"It is also important to consider the potential risks of a CBDC associated with disintermediating banks, given their critical role in credit provision, monetary policy transmission, and payments. In some circumstances, a widely available CBDC could serve as a substitute for commercial bank money, possibly reducing the aggregate amount of deposits in the banking system. And a CBDC would be attractive to risk-averse users during times of stress.
Accordingly, if the Federal Reserve were to move forward on CBDC, it would be important to develop design features that could mitigate such risks, such as offering a non-interest bearing CBDC or limiting the amount of CBDC a consumer could hold or transfer".
Christopher J. Waller - Board of Governors of the Federal Reserve
(Oct-14-2022) Speech by Governor Waller on the U.S. dollar and central bank digital currencies
https://www.federalreserve.gov/newsevents/speech/files/waller20221014a.pdf
Page 7-8
"Finally, as I’ve noted before, it is possible that a foreign-issued CBDC could have the opposite of its intended effect and make companies even less willing to use that country’s currency.
Since digital currencies would make it easier for a government to monitor transactions, shifting to a CBDC might make a company less willing to use that country’s currency. For example, I suspect that many companies will remain wary of China’s CBDC for just this reason."
Page 8 "Like a foreign CBDC, the technological advantages of a U.S. CBDC would have a hard time overcoming long-standing payments frictions without violating international financial integrity standards.
For the non-U.S. company already conducting its business in dollars, introducing a U.S. CBDC would not provide material benefits over and above the current reasons for making U.S. dollar-denominated payments. For non-U.S. companies conducting their business in currencies other than dollars, a U.S. CBDC similarly would likely not be preferred to their current options.
It could be that individuals outside the United States would find a U.S. CBDC particularly attractive, but, again, making a U.S. CBDC globally available would raise a number of issues, including money laundering and international financial stability concerns".
(Nov-16-2022) The Fed Just Launched a 12-Week Pilot CBDC Program | Heresy Financial
https://www.youtube.com/watch?v=l8HGRvkc0pA
(Nov-15-2022) New York Innovation Center to Explore Feasibility of Theoretical Payments System Designed to Facilitate and Settle Digital Asset Transactions
https://www.newyorkfed.org/newsevents/news/financial-services-and-infrastructure/2022/20221115
"As part of this 12-week project, the NYIC will collaborate with a group of private sector organizations to provide a public contribution to the body of knowledge on the application of new technology to the regulated financial system."
Facilitating Wholesale Digital Asset Settlement
https://www.newyorkfed.org/aboutthefed/nyic/facilitating-wholesale-digital-asset-settlement
Members of the U.S. Banking Community Launch Proof of Concept For A Regulated Digital Asset Settlement Platform https://www.businesswire.com/news/home/20221115005936/en/Members-of-the-U.S.-Banking-Community-Launch-Proof-of-Concept-For-A-Regulated-Digital-Asset-Settlement-Platform https://archive.vn/DlCMv
"In addition to the NYIC, the other participants on this project include the following financial institutions and payments organizations:"
- BNY Mellon
- Citi
- HSBC
- Mastercard
- PNC Bank
- TD Bank
- Truist
- U.S. Bank
- Wells Fargo.
CATO INSTITUTE - The Risks of CBDCs - Why Central Bank Digital Currencies Shouldn’t Be Adopted
https://www.cato.org/study/risks-of-cbdcs
J. Michael Evans - a Canadian technology executive and the President of Alibaba Group. He previously spent 20 years working for U.S. investment bank Goldman Sachs
https://en.wikipedia.org/wiki/J._Michael_Evans
“We’re developing, through technology, an ability for consumers to measure their own carbon footprint […] That’s where they’re traveling, how they are traveling, what are they eating, what are they consuming on the platform. So individual carbon footprint track. Stay tuned don't have it operational yet, but this is something we're working on.” — J. Michael Evans, President of Alibaba Group, WEF 2022
https://files.catbox.moe/dggthe.mp4
(Apr-3-2023) FedNow – CBDC introduction
FED releases FedNow service – the instant digital payments infrastructure. It’s the step to CBDC and surveillance era which will come soon...
Read a whole article of Przemysław Thomann on the Lean Community 'FreeLib' Library
https://leancommunity.org/fednow-cbdc-introduction/
A word about CBDC
🔴 FED releases FedNow service – the instant digital payments infrastructure 🔥 It’s the step to CBDC and surveillance era which will come soon 💬👇
🔴 In July 2023 Federal Reserve System (FED) announced release of their FedNow Service. It’s the infrastructure for instant payments between participants like banks, financial institutions or even fintechs.
🔴 FedNow running 24/7 will provide full digital infrastructure for instant payments focusing to be an attractive alternative for other payments systems. The payment is promised to be done within seconds, what makes this system providing great UX for end-user. It sounds like new era of fintech. But what’s the cost?
🔴 FedNow service is not CBDC… yet. It doesn’t provide any currency on top of it – it’s now just the infrastructure technology for payments. However, this infrastructure can in future become a part of CBDC. Doing just first step to the central banking technology based payments infrastructure, FED is simply starting integrating the idea of central banks ONLY controlled money.
🔴 Central banks currently control the money supply, soon will eliminate cash and replace it with their own monopoly payments infrastructure and ultimately currency. The banking industry will simply reduce to few central banks controlling the whole economy. Unlimited power, with the ability to spy and control every human economical interaction. This is the goal. Do you support this?
🔴 There is an alternative, which becomes more and more important. Bitcoin and other cryptocurrencies (hello Cardano). Yes – it’s digital too, but it’s complete opposite of CBDC. Decentralized, not available to control, not available to effectively block and stop. With fixed supply of 21M, not possible to be manipulated and broken as current FIAT – which in fact is now the source of power and decision-making where at the end it’s people who must pay for every decision done.
(April-14-2021) Digital Currency: Yuan comes with an expiry date: Spend or it will vanish
According to the Atlantic Council’s Central Bank Digital Currency Tracker, 119 countries, representing over 95 percent of global GDP, are exploring a CBDC.
https://www.atlanticcouncil.org/cbdctracker/
(Aug-3-2022) Neel Kashkari Fireside Chat at the 2022 Journal of Financial Regulation Conference
https://www.youtube.com/watch?v=RotcD7OREP4
President of the Federal Reserve Bank of Minneapolis Neel Kashkari (Federal Reserve can print infinite money guy) spoke at a panel hosted at Columbia University saying he had no idea what problem centralized digital currencies solved for American citizens.
13:55 Jeanna Smialek: "Central Bank Digital Currency, do you think that is something that you all should be looking into seriously? To what degree should you be looking into it? What are your thoughts on CBDC?
...
“What is it that a CBDC can do that Venmo can’t do?” Kashkari asked. “Well, I can see why China would do it.”
“If they want to monitor every one of your transactions, impose negative interest rates or directly tax customer accounts,” he said. “You can do that with a Central Bank Digital Currency, you can’t do that with Venmo.”
(Sep-22-2022) FACT SHEET: White House Releases First-Ever Comprehensive Framework for Responsible Development of Digital Assets
(Mar-14-2022) Executive Order 14067 - Ensuring Responsible Development of Digital Assets
(Sep-14-2022) Senator Mike Lee (R-Utah) Introduces the No CBDC Act
https://www.lee.senate.gov/2022/9/senator-lee-introduces-the-no-cbdc-act
(Aug-5-2021) "CBDC: A Solution in Search of a Problem? Speech By Governor Christopher J. Waller". CBDC = Central Bank Digital Currency.
https://www.federalreserve.gov/newsevents/speech/waller20210805a.htm
Lael Brainard - Vice Chair of the Federal Reserve
(May-26-2022) Testimony by Vice Chair Brainard on Digital Assets and the Future of Finance: Examining the Benefits and Risks of a U.S. Central Bank Digital Currency
https://www.federalreserve.gov/newsevents/testimony/files/brainard20220526a.pdf
3rd page of text (4 of the pdf)
"It is also important to consider the potential risks of a CBDC associated with disintermediating banks, given their critical role in credit provision, monetary policy transmission, and payments. In some circumstances, a widely available CBDC could serve as a substitute for commercial bank money, possibly reducing the aggregate amount of deposits in the banking system. And a CBDC would be attractive to risk-averse users during times of stress.
Accordingly, if the Federal Reserve were to move forward on CBDC, it would be important to develop design features that could mitigate such risks, such as offering a non-interest bearing CBDC or limiting the amount of CBDC a consumer could hold or transfer".
Christopher J. Waller - Board of Governors of the Federal Reserve
(Oct-14-2022) Speech by Governor Waller on the U.S. dollar and central bank digital currencies
https://www.federalreserve.gov/newsevents/speech/files/waller20221014a.pdf
Page 7-8
"Finally, as I’ve noted before, it is possible that a foreign-issued CBDC could have the opposite of its intended effect and make companies even less willing to use that country’s currency.
Since digital currencies would make it easier for a government to monitor transactions, shifting to a CBDC might make a company less willing to use that country’s currency. For example, I suspect that many companies will remain wary of China’s CBDC for just this reason."
Page 8 "Like a foreign CBDC, the technological advantages of a U.S. CBDC would have a hard time overcoming long-standing payments frictions without violating international financial integrity standards.
For the non-U.S. company already conducting its business in dollars, introducing a U.S. CBDC would not provide material benefits over and above the current reasons for making U.S. dollar-denominated payments. For non-U.S. companies conducting their business in currencies other than dollars, a U.S. CBDC similarly would likely not be preferred to their current options.
It could be that individuals outside the United States would find a U.S. CBDC particularly attractive, but, again, making a U.S. CBDC globally available would raise a number of issues, including money laundering and international financial stability concerns".
(Nov-16-2022) The Fed Just Launched a 12-Week Pilot CBDC Program | Heresy Financial
https://www.youtube.com/watch?v=l8HGRvkc0pA
(Nov-15-2022) New York Innovation Center to Explore Feasibility of Theoretical Payments System Designed to Facilitate and Settle Digital Asset Transactions
https://www.newyorkfed.org/newsevents/news/financial-services-and-infrastructure/2022/20221115
"As part of this 12-week project, the NYIC will collaborate with a group of private sector organizations to provide a public contribution to the body of knowledge on the application of new technology to the regulated financial system."
Facilitating Wholesale Digital Asset Settlement
https://www.newyorkfed.org/aboutthefed/nyic/facilitating-wholesale-digital-asset-settlement
Members of the U.S. Banking Community Launch Proof of Concept For A Regulated Digital Asset Settlement Platform https://www.businesswire.com/news/home/20221115005936/en/Members-of-the-U.S.-Banking-Community-Launch-Proof-of-Concept-For-A-Regulated-Digital-Asset-Settlement-Platform https://archive.vn/DlCMv
"In addition to the NYIC, the other participants on this project include the following financial institutions and payments organizations:"
- BNY Mellon
- Citi
- HSBC
- Mastercard
- PNC Bank
- TD Bank
- Truist
- U.S. Bank
- Wells Fargo.
CATO INSTITUTE - The Risks of CBDCs - Why Central Bank Digital Currencies Shouldn’t Be Adopted
https://www.cato.org/study/risks-of-cbdcs
J. Michael Evans - a Canadian technology executive and the President of Alibaba Group. He previously spent 20 years working for U.S. investment bank Goldman Sachs
https://en.wikipedia.org/wiki/J._Michael_Evans
“We’re developing, through technology, an ability for consumers to measure their own carbon footprint […] That’s where they’re traveling, how they are traveling, what are they eating, what are they consuming on the platform. So individual carbon footprint track. Stay tuned don't have it operational yet, but this is something we're working on.” — J. Michael Evans, President of Alibaba Group, WEF 2022
https://files.catbox.moe/dggthe.mp4
(Apr-3-2023) FedNow – CBDC introduction
FED releases FedNow service – the instant digital payments infrastructure. It’s the step to CBDC and surveillance era which will come soon...
Read a whole article of Przemysław Thomann on the Lean Community 'FreeLib' Library
https://leancommunity.org/fednow-cbdc-introduction/
A word about CBDC
🔴 FED releases FedNow service – the instant digital payments infrastructure 🔥 It’s the step to CBDC and surveillance era which will come soon 💬👇
🔴 In July 2023 Federal Reserve System (FED) announced release of their FedNow Service. It’s the infrastructure for instant payments between participants like banks, financial institutions or even fintechs.
🔴 FedNow running 24/7 will provide full digital infrastructure for instant payments focusing to be an attractive alternative for other payments systems. The payment is promised to be done within seconds, what makes this system providing great UX for end-user. It sounds like new era of fintech. But what’s the cost?
🔴 FedNow service is not CBDC… yet. It doesn’t provide any currency on top of it – it’s now just the infrastructure technology for payments. However, this infrastructure can in future become a part of CBDC. Doing just first step to the central banking technology based payments infrastructure, FED is simply starting integrating the idea of central banks ONLY controlled money.
🔴 Central banks currently control the money supply, soon will eliminate cash and replace it with their own monopoly payments infrastructure and ultimately currency. The banking industry will simply reduce to few central banks controlling the whole economy. Unlimited power, with the ability to spy and control every human economical interaction. This is the goal. Do you support this?
🔴 There is an alternative, which becomes more and more important. Bitcoin and other cryptocurrencies (hello Cardano). Yes – it’s digital too, but it’s complete opposite of CBDC. Decentralized, not available to control, not available to effectively block and stop. With fixed supply of 21M, not possible to be manipulated and broken as current FIAT – which in fact is now the source of power and decision-making where at the end it’s people who must pay for every decision done.
(April-14-2021) Digital Currency: Yuan comes with an expiry date: Spend or it will vanish
According to the Atlantic Council’s Central Bank Digital Currency Tracker, 119 countries, representing over 95 percent of global GDP, are exploring a CBDC.
https://www.atlanticcouncil.org/cbdctracker/
(Aug-3-2022) Neel Kashkari Fireside Chat at the 2022 Journal of Financial Regulation Conference
https://www.youtube.com/watch?v=RotcD7OREP4
President of the Federal Reserve Bank of Minneapolis Neel Kashkari (Federal Reserve can print infinite money guy) spoke at a panel hosted at Columbia University saying he had no idea what problem centralized digital currencies solved for American citizens.
13:55 Jeanna Smialek: "Central Bank Digital Currency, do you think that is something that you all should be looking into seriously? To what degree should you be looking into it? What are your thoughts on CBDC?
...
“What is it that a CBDC can do that Venmo can’t do?” Kashkari asked. “Well, I can see why China would do it.”
“If they want to monitor every one of your transactions, impose negative interest rates or directly tax customer accounts,” he said. “You can do that with a Central Bank Digital Currency, you can’t do that with Venmo.”
(Sep-22-2022) FACT SHEET: White House Releases First-Ever Comprehensive Framework for Responsible Development of Digital Assets
(Mar-14-2022) Executive Order 14067 - Ensuring Responsible Development of Digital Assets
(Sep-14-2022) Senator Mike Lee (R-Utah) Introduces the No CBDC Act
https://www.lee.senate.gov/2022/9/senator-lee-introduces-the-no-cbdc-act
Federalreserve.gov 08-05-2021: "CBDC: A Solution in Search of a Problem? Speech By Governor Christopher J. Waller". CBDC = Central Bank Digital Currency.
https://www.federalreserve.gov/newsevents/speech/waller20210805a.htm
Lael Brainard - Vice Chair of the Federal Reserve
(May-26-2022) Testimony by Vice Chair Brainard on Digital Assets and the Future of Finance: Examining the Benefits and Risks of a U.S. Central Bank Digital Currency
https://www.federalreserve.gov/newsevents/testimony/files/brainard20220526a.pdf
3rd page of text (4 of the pdf)
"It is also important to consider the potential risks of a CBDC associated with disintermediating banks, given their critical role in credit provision, monetary policy transmission, and payments. In some circumstances, a widely available CBDC could serve as a substitute for commercial bank money, possibly reducing the aggregate amount of deposits in the banking system. And a CBDC would be attractive to risk-averse users during times of stress.
Accordingly, if the Federal Reserve were to move forward on CBDC, it would be important to develop design features that could mitigate such risks, such as offering a non-interest bearing CBDC or limiting the amount of CBDC a consumer could hold or transfer".
Christopher J. Waller - Board of Governors of the Federal Reserve
(Oct-14-2022) Speech by Governor Waller on the U.S. dollar and central bank digital currencies
https://www.federalreserve.gov/newsevents/speech/files/waller20221014a.pdf
Page 7-8
"Finally, as I’ve noted before, it is possible that a foreign-issued CBDC could have the opposite of its intended effect and make companies even less willing to use that country’s currency.
Since digital currencies would make it easier for a government to monitor transactions, shifting to a CBDC might make a company less willing to use that country’s currency. For example, I suspect that many companies will remain wary of China’s CBDC for just this reason."
Page 8 "Like a foreign CBDC, the technological advantages of a U.S. CBDC would have a hard time overcoming long-standing payments frictions without violating international financial integrity standards.
For the non-U.S. company already conducting its business in dollars, introducing a U.S. CBDC would not provide material benefits over and above the current reasons for making U.S. dollar-denominated payments. For non-U.S. companies conducting their business in currencies other than dollars, a U.S. CBDC similarly would likely not be preferred to their current options.
It could be that individuals outside the United States would find a U.S. CBDC particularly attractive, but, again, making a U.S. CBDC globally available would raise a number of issues, including money laundering and international financial stability concerns".
(Nov-16-2022) The Fed Just Launched a 12-Week Pilot CBDC Program | Heresy Financial
https://www.youtube.com/watch?v=l8HGRvkc0pA
(Nov-15-2022) New York Innovation Center to Explore Feasibility of Theoretical Payments System Designed to Facilitate and Settle Digital Asset Transactions
https://www.newyorkfed.org/newsevents/news/financial-services-and-infrastructure/2022/20221115
"As part of this 12-week project, the NYIC will collaborate with a group of private sector organizations to provide a public contribution to the body of knowledge on the application of new technology to the regulated financial system."
Facilitating Wholesale Digital Asset Settlement
https://www.newyorkfed.org/aboutthefed/nyic/facilitating-wholesale-digital-asset-settlement
Members of the U.S. Banking Community Launch Proof of Concept For A Regulated Digital Asset Settlement Platform https://www.businesswire.com/news/home/20221115005936/en/Members-of-the-U.S.-Banking-Community-Launch-Proof-of-Concept-For-A-Regulated-Digital-Asset-Settlement-Platform https://archive.vn/DlCMv
"In addition to the NYIC, the other participants on this project include the following financial institutions and payments organizations:"
- BNY Mellon
- Citi
- HSBC
- Mastercard
- PNC Bank
- TD Bank
- Truist
- U.S. Bank
- Wells Fargo.
CATO INSTITUTE - The Risks of CBDCs - Why Central Bank Digital Currencies Shouldn’t Be Adopted
https://www.cato.org/study/risks-of-cbdcs
J. Michael Evans - a Canadian technology executive and the President of Alibaba Group. He previously spent 20 years working for U.S. investment bank Goldman Sachs
https://en.wikipedia.org/wiki/J._Michael_Evans
“We’re developing, through technology, an ability for consumers to measure their own carbon footprint […] That’s where they’re traveling, how they are traveling, what are they eating, what are they consuming on the platform. So individual carbon footprint track. Stay tuned don't have it operational yet, but this is something we're working on.” — J. Michael Evans, President of Alibaba Group, WEF 2022
https://files.catbox.moe/dggthe.mp4
(Apr-3-2023) FedNow – CBDC introduction
FED releases FedNow service – the instant digital payments infrastructure. It’s the step to CBDC and surveillance era which will come soon...
Read a whole article of Przemysław Thomann on the Lean Community 'FreeLib' Library
https://leancommunity.org/fednow-cbdc-introduction/
A word about CBDC
🔴 FED releases FedNow service – the instant digital payments infrastructure 🔥 It’s the step to CBDC and surveillance era which will come soon 💬👇
🔴 In July 2023 Federal Reserve System (FED) announced release of their FedNow Service. It’s the infrastructure for instant payments between participants like banks, financial institutions or even fintechs.
🔴 FedNow running 24/7 will provide full digital infrastructure for instant payments focusing to be an attractive alternative for other payments systems. The payment is promised to be done within seconds, what makes this system providing great UX for end-user. It sounds like new era of fintech. But what’s the cost?
🔴 FedNow service is not CBDC… yet. It doesn’t provide any currency on top of it – it’s now just the infrastructure technology for payments. However, this infrastructure can in future become a part of CBDC. Doing just first step to the central banking technology based payments infrastructure, FED is simply starting integrating the idea of central banks ONLY controlled money.
🔴 Central banks currently control the money supply, soon will eliminate cash and replace it with their own monopoly payments infrastructure and ultimately currency. The banking industry will simply reduce to few central banks controlling the whole economy. Unlimited power, with the ability to spy and control every human economical interaction. This is the goal. Do you support this?
🔴 There is an alternative, which becomes more and more important. Bitcoin and other cryptocurrencies (hello Cardano). Yes – it’s digital too, but it’s complete opposite of CBDC. Decentralized, not available to control, not available to effectively block and stop. With fixed supply of 21M, not possible to be manipulated and broken as current FIAT – which in fact is now the source of power and decision-making where at the end it’s people who must pay for every decision done.
(April-14-2021) Digital Currency: Yuan comes with an expiry date: Spend or it will vanish
According to the Atlantic Council’s Central Bank Digital Currency Tracker, 119 countries, representing over 95 percent of global GDP, are exploring a CBDC.
https://www.atlanticcouncil.org/cbdctracker/
(Aug-3-2022) Neel Kashkari Fireside Chat at the 2022 Journal of Financial Regulation Conference
https://www.youtube.com/watch?v=RotcD7OREP4
President of the Federal Reserve Bank of Minneapolis Neel Kashkari (Federal Reserve can print infinite money guy) spoke at a panel hosted at Columbia University saying he had no idea what problem centralized digital currencies solved for American citizens.
13:55 Jeanna Smialek: "Central Bank Digital Currency, do you think that is something that you all should be looking into seriously? To what degree should you be looking into it? What are your thoughts on CBDC?
...
“What is it that a CBDC can do that Venmo can’t do?” Kashkari asked. “Well, I can see why China would do it.”
“If they want to monitor every one of your transactions, impose negative interest rates or directly tax customer accounts,” he said. “You can do that with a Central Bank Digital Currency, you can’t do that with Venmo.”
(Sep-22-2022) FACT SHEET: White House Releases First-Ever Comprehensive Framework for Responsible Development of Digital Assets
(Mar-14-2022) Executive Order 14067 - Ensuring Responsible Development of Digital Assets
(Sep-14-2022) Senator Mike Lee (R-Utah) Introduces the No CBDC Act
https://www.lee.senate.gov/2022/9/senator-lee-introduces-the-no-cbdc-act
Lael Brainard - Vice Chair of the Federal Reserve
(May-26-2022) Testimony by Vice Chair Brainard on Digital Assets and the Future of Finance: Examining the Benefits and Risks of a U.S. Central Bank Digital Currency
https://www.federalreserve.gov/newsevents/testimony/files/brainard20220526a.pdf
3rd page of text (4 of the pdf)
"It is also important to consider the potential risks of a CBDC associated with disintermediating banks, given their critical role in credit provision, monetary policy transmission, and payments. In some circumstances, a widely available CBDC could serve as a substitute for commercial bank money, possibly reducing the aggregate amount of deposits in the banking system. And a CBDC would be attractive to risk-averse users during times of stress.
Accordingly, if the Federal Reserve were to move forward on CBDC, it would be important to develop design features that could mitigate such risks, such as offering a non-interest bearing CBDC or limiting the amount of CBDC a consumer could hold or transfer".
Christopher J. Waller - Board of Governors of the Federal Reserve
(Oct-14-2022) Speech by Governor Waller on the U.S. dollar and central bank digital currencies
https://www.federalreserve.gov/newsevents/speech/files/waller20221014a.pdf
Page 7-8
"Finally, as I’ve noted before, it is possible that a foreign-issued CBDC could have the opposite of its intended effect and make companies even less willing to use that country’s currency.
Since digital currencies would make it easier for a government to monitor transactions, shifting to a CBDC might make a company less willing to use that country’s currency. For example, I suspect that many companies will remain wary of China’s CBDC for just this reason."
Page 8 "Like a foreign CBDC, the technological advantages of a U.S. CBDC would have a hard time overcoming long-standing payments frictions without violating international financial integrity standards.
For the non-U.S. company already conducting its business in dollars, introducing a U.S. CBDC would not provide material benefits over and above the current reasons for making U.S. dollar-denominated payments. For non-U.S. companies conducting their business in currencies other than dollars, a U.S. CBDC similarly would likely not be preferred to their current options.
It could be that individuals outside the United States would find a U.S. CBDC particularly attractive, but, again, making a U.S. CBDC globally available would raise a number of issues, including money laundering and international financial stability concerns".
(Nov-16-2022) The Fed Just Launched a 12-Week Pilot CBDC Program | Heresy Financial
https://www.youtube.com/watch?v=l8HGRvkc0pA
(Nov-15-2022) New York Innovation Center to Explore Feasibility of Theoretical Payments System Designed to Facilitate and Settle Digital Asset Transactions
https://www.newyorkfed.org/newsevents/news/financial-services-and-infrastructure/2022/20221115
"As part of this 12-week project, the NYIC will collaborate with a group of private sector organizations to provide a public contribution to the body of knowledge on the application of new technology to the regulated financial system."
Facilitating Wholesale Digital Asset Settlement
https://www.newyorkfed.org/aboutthefed/nyic/facilitating-wholesale-digital-asset-settlement
Members of the U.S. Banking Community Launch Proof of Concept For A Regulated Digital Asset Settlement Platform https://www.businesswire.com/news/home/20221115005936/en/Members-of-the-U.S.-Banking-Community-Launch-Proof-of-Concept-For-A-Regulated-Digital-Asset-Settlement-Platform https://archive.vn/DlCMv
"In addition to the NYIC, the other participants on this project include the following financial institutions and payments organizations:"
- BNY Mellon
- Citi
- HSBC
- Mastercard
- PNC Bank
- TD Bank
- Truist
- U.S. Bank
- Wells Fargo.
CATO INSTITUTE - The Risks of CBDCs - Why Central Bank Digital Currencies Shouldn’t Be Adopted
https://www.cato.org/study/risks-of-cbdcs
J. Michael Evans - a Canadian technology executive and the President of Alibaba Group. He previously spent 20 years working for U.S. investment bank Goldman Sachs
https://en.wikipedia.org/wiki/J._Michael_Evans
“We’re developing, through technology, an ability for consumers to measure their own carbon footprint […] That’s where they’re traveling, how they are traveling, what are they eating, what are they consuming on the platform. So individual carbon footprint track. Stay tuned don't have it operational yet, but this is something we're working on.” — J. Michael Evans, President of Alibaba Group, WEF 2022
https://files.catbox.moe/dggthe.mp4
(Apr-3-2023) FedNow – CBDC introduction
FED releases FedNow service – the instant digital payments infrastructure. It’s the step to CBDC and surveillance era which will come soon...
Read a whole article of Przemysław Thomann on the Lean Community 'FreeLib' Library
https://leancommunity.org/fednow-cbdc-introduction/
A word about CBDC
🔴 FED releases FedNow service – the instant digital payments infrastructure 🔥 It’s the step to CBDC and surveillance era which will come soon 💬👇
🔴 In July 2023 Federal Reserve System (FED) announced release of their FedNow Service. It’s the infrastructure for instant payments between participants like banks, financial institutions or even fintechs.
🔴 FedNow running 24/7 will provide full digital infrastructure for instant payments focusing to be an attractive alternative for other payments systems. The payment is promised to be done within seconds, what makes this system providing great UX for end-user. It sounds like new era of fintech. But what’s the cost?
🔴 FedNow service is not CBDC… yet. It doesn’t provide any currency on top of it – it’s now just the infrastructure technology for payments. However, this infrastructure can in future become a part of CBDC. Doing just first step to the central banking technology based payments infrastructure, FED is simply starting integrating the idea of central banks ONLY controlled money.
🔴 Central banks currently control the money supply, soon will eliminate cash and replace it with their own monopoly payments infrastructure and ultimately currency. The banking industry will simply reduce to few central banks controlling the whole economy. Unlimited power, with the ability to spy and control every human economical interaction. This is the goal. Do you support this?
🔴 There is an alternative, which becomes more and more important. Bitcoin and other cryptocurrencies (hello Cardano). Yes – it’s digital too, but it’s complete opposite of CBDC. Decentralized, not available to control, not available to effectively block and stop. With fixed supply of 21M, not possible to be manipulated and broken as current FIAT – which in fact is now the source of power and decision-making where at the end it’s people who must pay for every decision done.
(April-14-2021) Digital Currency: Yuan comes with an expiry date: Spend or it will vanish
According to the Atlantic Council’s Central Bank Digital Currency Tracker, 119 countries, representing over 95 percent of global GDP, are exploring a CBDC.
https://www.atlanticcouncil.org/cbdctracker/
(Aug-3-2022) Neel Kashkari Fireside Chat at the 2022 Journal of Financial Regulation Conference
https://www.youtube.com/watch?v=RotcD7OREP4
President of the Federal Reserve Bank of Minneapolis Neel Kashkari (Federal Reserve can print infinite money guy) spoke at a panel hosted at Columbia University saying he had no idea what problem centralized digital currencies solved for American citizens.
13:55 Jeanna Smialek: "Central Bank Digital Currency, do you think that is something that you all should be looking into seriously? To what degree should you be looking into it? What are your thoughts on CBDC?
...
“What is it that a CBDC can do that Venmo can’t do?” Kashkari asked. “Well, I can see why China would do it.”
“If they want to monitor every one of your transactions, impose negative interest rates or directly tax customer accounts,” he said. “You can do that with a Central Bank Digital Currency, you can’t do that with Venmo.”
(Sep-22-2022) FACT SHEET: White House Releases First-Ever Comprehensive Framework for Responsible Development of Digital Assets
(Mar-14-2022) Executive Order 14067 - Ensuring Responsible Development of Digital Assets
Lael Brainard - Vice Chair of the Federal Reserve
(May-26-2022) Testimony by Vice Chair Brainard on Digital Assets and the Future of Finance: Examining the Benefits and Risks of a U.S. Central Bank Digital Currency
https://www.federalreserve.gov/newsevents/testimony/files/brainard20220526a.pdf
3rd page of text (4 of the pdf)
"It is also important to consider the potential risks of a CBDC associated with disintermediating banks, given their critical role in credit provision, monetary policy transmission, and payments. In some circumstances, a widely available CBDC could serve as a substitute for commercial bank money, possibly reducing the aggregate amount of deposits in the banking system. And a CBDC would be attractive to risk-averse users during times of stress.
Accordingly, if the Federal Reserve were to move forward on CBDC, it would be important to develop design features that could mitigate such risks, such as offering a non-interest bearing CBDC or limiting the amount of CBDC a consumer could hold or transfer".
Christopher J. Waller - Board of Governors of the Federal Reserve
(Oct-14-2022) Speech by Governor Waller on the U.S. dollar and central bank digital currencies
https://www.federalreserve.gov/newsevents/speech/files/waller20221014a.pdf
Page 7-8
"Finally, as I’ve noted before, it is possible that a foreign-issued CBDC could have the opposite of its intended effect and make companies even less willing to use that country’s currency.
Since digital currencies would make it easier for a government to monitor transactions, shifting to a CBDC might make a company less willing to use that country’s currency. For example, I suspect that many companies will remain wary of China’s CBDC for just this reason."
Page 8 "Like a foreign CBDC, the technological advantages of a U.S. CBDC would have a hard time overcoming long-standing payments frictions without violating international financial integrity standards.
For the non-U.S. company already conducting its business in dollars, introducing a U.S. CBDC would not provide material benefits over and above the current reasons for making U.S. dollar-denominated payments. For non-U.S. companies conducting their business in currencies other than dollars, a U.S. CBDC similarly would likely not be preferred to their current options.
It could be that individuals outside the United States would find a U.S. CBDC particularly attractive, but, again, making a U.S. CBDC globally available would raise a number of issues, including money laundering and international financial stability concerns".
(Nov-16-2022) The Fed Just Launched a 12-Week Pilot CBDC Program | Heresy Financial
https://www.youtube.com/watch?v=l8HGRvkc0pA
(Nov-15-2022) New York Innovation Center to Explore Feasibility of Theoretical Payments System Designed to Facilitate and Settle Digital Asset Transactions
https://www.newyorkfed.org/newsevents/news/financial-services-and-infrastructure/2022/20221115
"As part of this 12-week project, the NYIC will collaborate with a group of private sector organizations to provide a public contribution to the body of knowledge on the application of new technology to the regulated financial system."
Facilitating Wholesale Digital Asset Settlement
https://www.newyorkfed.org/aboutthefed/nyic/facilitating-wholesale-digital-asset-settlement
Members of the U.S. Banking Community Launch Proof of Concept For A Regulated Digital Asset Settlement Platform https://www.businesswire.com/news/home/20221115005936/en/Members-of-the-U.S.-Banking-Community-Launch-Proof-of-Concept-For-A-Regulated-Digital-Asset-Settlement-Platform https://archive.vn/DlCMv
"In addition to the NYIC, the other participants on this project include the following financial institutions and payments organizations:"
- BNY Mellon
- Citi
- HSBC
- Mastercard
- PNC Bank
- TD Bank
- Truist
- U.S. Bank
- Wells Fargo.
CATO INSTITUTE - The Risks of CBDCs - Why Central Bank Digital Currencies Shouldn’t Be Adopted
https://www.cato.org/study/risks-of-cbdcs
J. Michael Evans - a Canadian technology executive and the President of Alibaba Group. He previously spent 20 years working for U.S. investment bank Goldman Sachs
https://en.wikipedia.org/wiki/J._Michael_Evans
“We’re developing, through technology, an ability for consumers to measure their own carbon footprint […] That’s where they’re traveling, how they are traveling, what are they eating, what are they consuming on the platform. So individual carbon footprint track. Stay tuned don't have it operational yet, but this is something we're working on.” — J. Michael Evans, President of Alibaba Group, WEF 2022
https://files.catbox.moe/dggthe.mp4
(Apr-3-2023) FedNow – CBDC introduction
FED releases FedNow service – the instant digital payments infrastructure. It’s the step to CBDC and surveillance era which will come soon...
Read a whole article of Przemysław Thomann on the Lean Community 'FreeLib' Library
https://leancommunity.org/fednow-cbdc-introduction/
A word about CBDC
🔴 FED releases FedNow service – the instant digital payments infrastructure 🔥 It’s the step to CBDC and surveillance era which will come soon 💬👇
🔴 In July 2023 Federal Reserve System (FED) announced release of their FedNow Service. It’s the infrastructure for instant payments between participants like banks, financial institutions or even fintechs.
🔴 FedNow running 24/7 will provide full digital infrastructure for instant payments focusing to be an attractive alternative for other payments systems. The payment is promised to be done within seconds, what makes this system providing great UX for end-user. It sounds like new era of fintech. But what’s the cost?
🔴 FedNow service is not CBDC… yet. It doesn’t provide any currency on top of it – it’s now just the infrastructure technology for payments. However, this infrastructure can in future become a part of CBDC. Doing just first step to the central banking technology based payments infrastructure, FED is simply starting integrating the idea of central banks ONLY controlled money.
🔴 Central banks currently control the money supply, soon will eliminate cash and replace it with their own monopoly payments infrastructure and ultimately currency. The banking industry will simply reduce to few central banks controlling the whole economy. Unlimited power, with the ability to spy and control every human economical interaction. This is the goal. Do you support this?
🔴 There is an alternative, which becomes more and more important. Bitcoin and other cryptocurrencies (hello Cardano). Yes – it’s digital too, but it’s complete opposite of CBDC. Decentralized, not available to control, not available to effectively block and stop. With fixed supply of 21M, not possible to be manipulated and broken as current FIAT – which in fact is now the source of power and decision-making where at the end it’s people who must pay for every decision done.
(April-14-2021) Digital Currency: Yuan comes with an expiry date: Spend or it will vanish
According to the Atlantic Council’s Central Bank Digital Currency Tracker, 119 countries, representing over 95 percent of global GDP, are exploring a CBDC.
https://www.atlanticcouncil.org/cbdctracker/
(Aug-3-2022) Neel Kashkari Fireside Chat at the 2022 Journal of Financial Regulation Conference
https://www.youtube.com/watch?v=RotcD7OREP4
President of the Federal Reserve Bank of Minneapolis Neel Kashkari (Federal Reserve can print infinite money guy) spoke at a panel hosted at Columbia University saying he had no idea what problem centralized digital currencies solved for American citizens.
13:55 Jeanna Smialek: "Central Bank Digital Currency, do you think that is something that you all should be looking into seriously? To what degree should you be looking into it? What are your thoughts on CBDC?
...
“What is it that a CBDC can do that Venmo can’t do?” Kashkari asked. “Well, I can see why China would do it.”
“If they want to monitor every one of your transactions, impose negative interest rates or directly tax customer accounts,” he said. “You can do that with a Central Bank Digital Currency, you can’t do that with Venmo.”
Lael Brainard - Vice Chair of the Federal Reserve
(May-26-2022) Testimony by Vice Chair Brainard on Digital Assets and the Future of Finance: Examining the Benefits and Risks of a U.S. Central Bank Digital Currency
https://www.federalreserve.gov/newsevents/testimony/files/brainard20220526a.pdf
3rd page of text (4 of the pdf)
"It is also important to consider the potential risks of a CBDC associated with disintermediating banks, given their critical role in credit provision, monetary policy transmission, and payments. In some circumstances, a widely available CBDC could serve as a substitute for commercial bank money, possibly reducing the aggregate amount of deposits in the banking system. And a CBDC would be attractive to risk-averse users during times of stress.
Accordingly, if the Federal Reserve were to move forward on CBDC, it would be important to develop design features that could mitigate such risks, such as offering a non-interest bearing CBDC or limiting the amount of CBDC a consumer could hold or transfer".
Christopher J. Waller - Board of Governors of the Federal Reserve
(Oct-14-2022) Speech by Governor Waller on the U.S. dollar and central bank digital currencies
https://www.federalreserve.gov/newsevents/speech/files/waller20221014a.pdf
Page 7-8
"Finally, as I’ve noted before, it is possible that a foreign-issued CBDC could have the opposite of its intended effect and make companies even less willing to use that country’s currency.
Since digital currencies would make it easier for a government to monitor transactions, shifting to a CBDC might make a company less willing to use that country’s currency. For example, I suspect that many companies will remain wary of China’s CBDC for just this reason."
Page 8 "Like a foreign CBDC, the technological advantages of a U.S. CBDC would have a hard time overcoming long-standing payments frictions without violating international financial integrity standards.
For the non-U.S. company already conducting its business in dollars, introducing a U.S. CBDC would not provide material benefits over and above the current reasons for making U.S. dollar-denominated payments. For non-U.S. companies conducting their business in currencies other than dollars, a U.S. CBDC similarly would likely not be preferred to their current options.
It could be that individuals outside the United States would find a U.S. CBDC particularly attractive, but, again, making a U.S. CBDC globally available would raise a number of issues, including money laundering and international financial stability concerns".
(Nov-16-2022) The Fed Just Launched a 12-Week Pilot CBDC Program | Heresy Financial
https://www.youtube.com/watch?v=l8HGRvkc0pA
(Nov-15-2022) New York Innovation Center to Explore Feasibility of Theoretical Payments System Designed to Facilitate and Settle Digital Asset Transactions
https://www.newyorkfed.org/newsevents/news/financial-services-and-infrastructure/2022/20221115
"As part of this 12-week project, the NYIC will collaborate with a group of private sector organizations to provide a public contribution to the body of knowledge on the application of new technology to the regulated financial system."
Facilitating Wholesale Digital Asset Settlement
https://www.newyorkfed.org/aboutthefed/nyic/facilitating-wholesale-digital-asset-settlement
Members of the U.S. Banking Community Launch Proof of Concept For A Regulated Digital Asset Settlement Platform https://www.businesswire.com/news/home/20221115005936/en/Members-of-the-U.S.-Banking-Community-Launch-Proof-of-Concept-For-A-Regulated-Digital-Asset-Settlement-Platform https://archive.vn/DlCMv
"In addition to the NYIC, the other participants on this project include the following financial institutions and payments organizations:"
- BNY Mellon
- Citi
- HSBC
- Mastercard
- PNC Bank
- TD Bank
- Truist
- U.S. Bank
- Wells Fargo.
CATO INSTITUTE - The Risks of CBDCs - Why Central Bank Digital Currencies Shouldn’t Be Adopted
https://www.cato.org/study/risks-of-cbdcs
J. Michael Evans - a Canadian technology executive and the President of Alibaba Group. He previously spent 20 years working for U.S. investment bank Goldman Sachs
https://en.wikipedia.org/wiki/J._Michael_Evans
“We’re developing, through technology, an ability for consumers to measure their own carbon footprint […] That’s where they’re traveling, how they are traveling, what are they eating, what are they consuming on the platform. So individual carbon footprint track. Stay tuned don't have it operational yet, but this is something we're working on.” — J. Michael Evans, President of Alibaba Group, WEF 2022
https://files.catbox.moe/dggthe.mp4
(Apr-3-2023) FedNow – CBDC introduction
FED releases FedNow service – the instant digital payments infrastructure. It’s the step to CBDC and surveillance era which will come soon...
Read a whole article of Przemysław Thomann on the Lean Community 'FreeLib' Library
https://leancommunity.org/fednow-cbdc-introduction/
A word about CBDC
🔴 FED releases FedNow service – the instant digital payments infrastructure 🔥 It’s the step to CBDC and surveillance era which will come soon 💬👇
🔴 In July 2023 Federal Reserve System (FED) announced release of their FedNow Service. It’s the infrastructure for instant payments between participants like banks, financial institutions or even fintechs.
🔴 FedNow running 24/7 will provide full digital infrastructure for instant payments focusing to be an attractive alternative for other payments systems. The payment is promised to be done within seconds, what makes this system providing great UX for end-user. It sounds like new era of fintech. But what’s the cost?
🔴 FedNow service is not CBDC… yet. It doesn’t provide any currency on top of it – it’s now just the infrastructure technology for payments. However, this infrastructure can in future become a part of CBDC. Doing just first step to the central banking technology based payments infrastructure, FED is simply starting integrating the idea of central banks ONLY controlled money.
🔴 Central banks currently control the money supply, soon will eliminate cash and replace it with their own monopoly payments infrastructure and ultimately currency. The banking industry will simply reduce to few central banks controlling the whole economy. Unlimited power, with the ability to spy and control every human economical interaction. This is the goal. Do you support this?
🔴 There is an alternative, which becomes more and more important. Bitcoin and other cryptocurrencies (hello Cardano). Yes – it’s digital too, but it’s complete opposite of CBDC. Decentralized, not available to control, not available to effectively block and stop. With fixed supply of 21M, not possible to be manipulated and broken as current FIAT – which in fact is now the source of power and decision-making where at the end it’s people who must pay for every decision done.
(April-14-2021) Digital Currency: Yuan comes with an expiry date: Spend or it will vanish
According to the Atlantic Council’s Central Bank Digital Currency Tracker, 119 countries, representing over 95 percent of global GDP, are exploring a CBDC.
https://www.atlanticcouncil.org/cbdctracker/
(Aug-3-2022) Neel Kashkari Fireside Chat at the 2022 Journal of Financial Regulation Conference
https://www.youtube.com/watch?v=RotcD7OREP4
President of the Federal Reserve Bank of Minneapolis Neel Kashkari (Federal Reserve can print infinite money guy) spoke at a panel hosted at Columbia University saying he had no idea what problem centralized digital currencies solved for American citizens.
13:55 Panelist: "Central Bank Digital Currency, do you think that is something that you all should be looking into seriously? To what degree should you be looking into it? What are your thoughts on CBDC?
“What is it that a CBDC can do that Venmo can’t do?” Kashkari asked. “Well, I can see why China would do it.”
“If they want to monitor every one of your transactions, impose negative interest rates or directly tax customer accounts,” he said. “You can do that with a Central Bank Digital Currency, you can’t do that with Venmo.”
Lael Brainard - Vice Chair of the Federal Reserve
(May-26-2022) Testimony by Vice Chair Brainard on Digital Assets and the Future of Finance: Examining the Benefits and Risks of a U.S. Central Bank Digital Currency
https://www.federalreserve.gov/newsevents/testimony/files/brainard20220526a.pdf
3rd page of text (4 of the pdf)
"It is also important to consider the potential risks of a CBDC associated with disintermediating banks, given their critical role in credit provision, monetary policy transmission, and payments. In some circumstances, a widely available CBDC could serve as a substitute for commercial bank money, possibly reducing the aggregate amount of deposits in the banking system. And a CBDC would be attractive to risk-averse users during times of stress.
Accordingly, if the Federal Reserve were to move forward on CBDC, it would be important to develop design features that could mitigate such risks, such as offering a non-interest bearing CBDC or limiting the amount of CBDC a consumer could hold or transfer".
Christopher J. Waller - Board of Governors of the Federal Reserve
(Oct-14-2022) Speech by Governor Waller on the U.S. dollar and central bank digital currencies
https://www.federalreserve.gov/newsevents/speech/files/waller20221014a.pdf
Page 7-8
"Finally, as I’ve noted before, it is possible that a foreign-issued CBDC could have the opposite of its intended effect and make companies even less willing to use that country’s currency.
Since digital currencies would make it easier for a government to monitor transactions, shifting to a CBDC might make a company less willing to use that country’s currency. For example, I suspect that many companies will remain wary of China’s CBDC for just this reason."
Page 8 "Like a foreign CBDC, the technological advantages of a U.S. CBDC would have a hard time overcoming long-standing payments frictions without violating international financial integrity standards.
For the non-U.S. company already conducting its business in dollars, introducing a U.S. CBDC would not provide material benefits over and above the current reasons for making U.S. dollar-denominated payments. For non-U.S. companies conducting their business in currencies other than dollars, a U.S. CBDC similarly would likely not be preferred to their current options.
It could be that individuals outside the United States would find a U.S. CBDC particularly attractive, but, again, making a U.S. CBDC globally available would raise a number of issues, including money laundering and international financial stability concerns".
(Nov-16-2022) The Fed Just Launched a 12-Week Pilot CBDC Program | Heresy Financial
https://www.youtube.com/watch?v=l8HGRvkc0pA
(Nov-15-2022) New York Innovation Center to Explore Feasibility of Theoretical Payments System Designed to Facilitate and Settle Digital Asset Transactions
https://www.newyorkfed.org/newsevents/news/financial-services-and-infrastructure/2022/20221115
"As part of this 12-week project, the NYIC will collaborate with a group of private sector organizations to provide a public contribution to the body of knowledge on the application of new technology to the regulated financial system."
Facilitating Wholesale Digital Asset Settlement
https://www.newyorkfed.org/aboutthefed/nyic/facilitating-wholesale-digital-asset-settlement
Members of the U.S. Banking Community Launch Proof of Concept For A Regulated Digital Asset Settlement Platform https://www.businesswire.com/news/home/20221115005936/en/Members-of-the-U.S.-Banking-Community-Launch-Proof-of-Concept-For-A-Regulated-Digital-Asset-Settlement-Platform https://archive.vn/DlCMv
"In addition to the NYIC, the other participants on this project include the following financial institutions and payments organizations:"
- BNY Mellon
- Citi
- HSBC
- Mastercard
- PNC Bank
- TD Bank
- Truist
- U.S. Bank
- Wells Fargo.
CATO INSTITUTE - The Risks of CBDCs - Why Central Bank Digital Currencies Shouldn’t Be Adopted
https://www.cato.org/study/risks-of-cbdcs
J. Michael Evans - a Canadian technology executive and the President of Alibaba Group. He previously spent 20 years working for U.S. investment bank Goldman Sachs
https://en.wikipedia.org/wiki/J._Michael_Evans
“We’re developing, through technology, an ability for consumers to measure their own carbon footprint […] That’s where they’re traveling, how they are traveling, what are they eating, what are they consuming on the platform. So individual carbon footprint track. Stay tuned don't have it operational yet, but this is something we're working on.” — J. Michael Evans, President of Alibaba Group, WEF 2022
https://files.catbox.moe/dggthe.mp4
(Apr-3-2023) FedNow – CBDC introduction
FED releases FedNow service – the instant digital payments infrastructure. It’s the step to CBDC and surveillance era which will come soon...
Read a whole article of Przemysław Thomann on the Lean Community 'FreeLib' Library
https://leancommunity.org/fednow-cbdc-introduction/
A word about CBDC
🔴 FED releases FedNow service – the instant digital payments infrastructure 🔥 It’s the step to CBDC and surveillance era which will come soon 💬👇
🔴 In July 2023 Federal Reserve System (FED) announced release of their FedNow Service. It’s the infrastructure for instant payments between participants like banks, financial institutions or even fintechs.
🔴 FedNow running 24/7 will provide full digital infrastructure for instant payments focusing to be an attractive alternative for other payments systems. The payment is promised to be done within seconds, what makes this system providing great UX for end-user. It sounds like new era of fintech. But what’s the cost?
🔴 FedNow service is not CBDC… yet. It doesn’t provide any currency on top of it – it’s now just the infrastructure technology for payments. However, this infrastructure can in future become a part of CBDC. Doing just first step to the central banking technology based payments infrastructure, FED is simply starting integrating the idea of central banks ONLY controlled money.
🔴 Central banks currently control the money supply, soon will eliminate cash and replace it with their own monopoly payments infrastructure and ultimately currency. The banking industry will simply reduce to few central banks controlling the whole economy. Unlimited power, with the ability to spy and control every human economical interaction. This is the goal. Do you support this?
🔴 There is an alternative, which becomes more and more important. Bitcoin and other cryptocurrencies (hello Cardano). Yes – it’s digital too, but it’s complete opposite of CBDC. Decentralized, not available to control, not available to effectively block and stop. With fixed supply of 21M, not possible to be manipulated and broken as current FIAT – which in fact is now the source of power and decision-making where at the end it’s people who must pay for every decision done.
(April-14-2021) Digital Currency: Yuan comes with an expiry date: Spend or it will vanish
According to the Atlantic Council’s Central Bank Digital Currency Tracker, 119 countries, representing over 95 percent of global GDP, are exploring a CBDC.
https://www.atlanticcouncil.org/cbdctracker/
(Aug-3-2022) Neel Kashkari Fireside Chat at the 2022 Journal of Financial Regulation Conference
https://www.youtube.com/watch?v=RotcD7OREP4
President of the Federal Reserve Bank of Minneapolis Neel Kashkari (Federal Reserve can print infinite money guy) spoke at a panel hosted at Columbia University saying he had no idea what problem centralized digital currencies solved for American citizens.
13:55 Panelist: "Central Bank Digital Currency, do you think that is something that you all should be looking into seriously? To what degree should you be looking into it? What are your thoughts on CBDC?
“What is it that a CBDC can do that Venmo can’t do?” Kashkari asked. “Well, I can see why China would do it.”
“If they want to monitor every one of your transactions, impose negative interest rates or directly tax customer accounts,” he said. “You can do that with a Central Bank Digital Currency, you can’t do that with Venmo.”
Lael Brainard - Vice Chair of the Federal Reserve
(May-26-2022) Testimony by Vice Chair Brainard on Digital Assets and the Future of Finance: Examining the Benefits and Risks of a U.S. Central Bank Digital Currency
https://www.federalreserve.gov/newsevents/testimony/files/brainard20220526a.pdf
3rd page of text (4 of the pdf)
"It is also important to consider the potential risks of a CBDC associated with disintermediating banks, given their critical role in credit provision, monetary policy transmission, and payments. In some circumstances, a widely available CBDC could serve as a substitute for commercial bank money, possibly reducing the aggregate amount of deposits in the banking system. And a CBDC would be attractive to risk-averse users during times of stress.
Accordingly, if the Federal Reserve were to move forward on CBDC, it would be important to develop design features that could mitigate such risks, such as offering a non-interest bearing CBDC or limiting the amount of CBDC a consumer could hold or transfer".
Christopher J. Waller - Board of Governors of the Federal Reserve
(Oct-14-2022) Speech by Governor Waller on the U.S. dollar and central bank digital currencies
https://www.federalreserve.gov/newsevents/speech/files/waller20221014a.pdf
Page 7-8
"Finally, as I’ve noted before, it is possible that a foreign-issued CBDC could have the opposite of its intended effect and make companies even less willing to use that country’s currency.
Since digital currencies would make it easier for a government to monitor transactions, shifting to a CBDC might make a company less willing to use that country’s currency. For example, I suspect that many companies will remain wary of China’s CBDC for just this reason."
Page 8 "Like a foreign CBDC, the technological advantages of a U.S. CBDC would have a hard time overcoming long-standing payments frictions without violating international financial integrity standards.
For the non-U.S. company already conducting its business in dollars, introducing a U.S. CBDC would not provide material benefits over and above the current reasons for making U.S. dollar-denominated payments. For non-U.S. companies conducting their business in currencies other than dollars, a U.S. CBDC similarly would likely not be preferred to their current options.
It could be that individuals outside the United States would find a U.S. CBDC particularly attractive, but, again, making a U.S. CBDC globally available would raise a number of issues, including money laundering and international financial stability concerns".
(Nov-16-2022) The Fed Just Launched a 12-Week Pilot CBDC Program | Heresy Financial
https://www.youtube.com/watch?v=l8HGRvkc0pA
(Nov-15-2022) New York Innovation Center to Explore Feasibility of Theoretical Payments System Designed to Facilitate and Settle Digital Asset Transactions
https://www.newyorkfed.org/newsevents/news/financial-services-and-infrastructure/2022/20221115
"As part of this 12-week project, the NYIC will collaborate with a group of private sector organizations to provide a public contribution to the body of knowledge on the application of new technology to the regulated financial system."
Facilitating Wholesale Digital Asset Settlement
https://www.newyorkfed.org/aboutthefed/nyic/facilitating-wholesale-digital-asset-settlement
Members of the U.S. Banking Community Launch Proof of Concept For A Regulated Digital Asset Settlement Platform https://www.businesswire.com/news/home/20221115005936/en/Members-of-the-U.S.-Banking-Community-Launch-Proof-of-Concept-For-A-Regulated-Digital-Asset-Settlement-Platform https://archive.vn/DlCMv
"In addition to the NYIC, the other participants on this project include the following financial institutions and payments organizations:"
- BNY Mellon
- Citi
- HSBC
- Mastercard
- PNC Bank
- TD Bank
- Truist
- U.S. Bank
- Wells Fargo.
CATO INSTITUTE - The Risks of CBDCs - Why Central Bank Digital Currencies Shouldn’t Be Adopted
https://www.cato.org/study/risks-of-cbdcs
J. Michael Evans - a Canadian technology executive and the President of Alibaba Group. He previously spent 20 years working for U.S. investment bank Goldman Sachs
https://en.wikipedia.org/wiki/J._Michael_Evans
“We’re developing, through technology, an ability for consumers to measure their own carbon footprint […] That’s where they’re traveling, how they are traveling, what are they eating, what are they consuming on the platform. So individual carbon footprint track. Stay tuned don't have it operational yet, but this is something we're working on.” — J. Michael Evans, President of Alibaba Group, WEF 2022
https://files.catbox.moe/dggthe.mp4
(Apr-3-2023) FedNow – CBDC introduction
FED releases FedNow service – the instant digital payments infrastructure. It’s the step to CBDC and surveillance era which will come soon...
Read a whole article of Przemysław Thomann on the Lean Community 'FreeLib' Library
https://leancommunity.org/fednow-cbdc-introduction/
A word about CBDC
🔴 FED releases FedNow service – the instant digital payments infrastructure 🔥 It’s the step to CBDC and surveillance era which will come soon 💬👇
🔴 In July 2023 Federal Reserve System (FED) announced release of their FedNow Service. It’s the infrastructure for instant payments between participants like banks, financial institutions or even fintechs.
🔴 FedNow running 24/7 will provide full digital infrastructure for instant payments focusing to be an attractive alternative for other payments systems. The payment is promised to be done within seconds, what makes this system providing great UX for end-user. It sounds like new era of fintech. But what’s the cost?
🔴 FedNow service is not CBDC… yet. It doesn’t provide any currency on top of it – it’s now just the infrastructure technology for payments. However, this infrastructure can in future become a part of CBDC. Doing just first step to the central banking technology based payments infrastructure, FED is simply starting integrating the idea of central banks ONLY controlled money.
🔴 Central banks currently control the money supply, soon will eliminate cash and replace it with their own monopoly payments infrastructure and ultimately currency. The banking industry will simply reduce to few central banks controlling the whole economy. Unlimited power, with the ability to spy and control every human economical interaction. This is the goal. Do you support this?
🔴 There is an alternative, which becomes more and more important. Bitcoin and other cryptocurrencies (hello Cardano). Yes – it’s digital too, but it’s complete opposite of CBDC. Decentralized, not available to control, not available to effectively block and stop. With fixed supply of 21M, not possible to be manipulated and broken as current FIAT – which in fact is now the source of power and decision-making where at the end it’s people who must pay for every decision done.
(April-14-2021) Digital Currency: Yuan comes with an expiry date: Spend or it will vanish
Christopher J. Waller - Board of Governors of the Federal Reserve
(Oct-14-2022) Speech by Governor Waller on the U.S. dollar and central bank digital currencies
https://www.federalreserve.gov/newsevents/speech/files/waller20221014a.pdf
Page 7-8
"Finally, as I’ve noted before, it is possible that a foreign-issued CBDC could have the opposite of its intended effect and make companies even less willing to use that country’s currency.
Since digital currencies would make it easier for a government to monitor transactions, shifting to a CBDC might make a company less willing to use that country’s currency. For example, I suspect that many companies will remain wary of China’s CBDC for just this reason."
Page 8 "Like a foreign CBDC, the technological advantages of a U.S. CBDC would have a hard time overcoming long-standing payments frictions without violating international financial integrity standards.
For the non-U.S. company already conducting its business in dollars, introducing a U.S. CBDC would not provide material benefits over and above the current reasons for making U.S. dollar-denominated payments. For non-U.S. companies conducting their business in currencies other than dollars, a U.S. CBDC similarly would likely not be preferred to their current options.
It could be that individuals outside the United States would find a U.S. CBDC particularly attractive, but, again, making a U.S. CBDC globally available would raise a number of issues, including money laundering and international financial stability concerns".
(Nov-16-2022) The Fed Just Launched a 12-Week Pilot CBDC Program | Heresy Financial
https://www.youtube.com/watch?v=l8HGRvkc0pA
(Nov-15-2022) New York Innovation Center to Explore Feasibility of Theoretical Payments System Designed to Facilitate and Settle Digital Asset Transactions
https://www.newyorkfed.org/newsevents/news/financial-services-and-infrastructure/2022/20221115
"As part of this 12-week project, the NYIC will collaborate with a group of private sector organizations to provide a public contribution to the body of knowledge on the application of new technology to the regulated financial system."
Facilitating Wholesale Digital Asset Settlement
https://www.newyorkfed.org/aboutthefed/nyic/facilitating-wholesale-digital-asset-settlement
Members of the U.S. Banking Community Launch Proof of Concept For A Regulated Digital Asset Settlement Platform https://www.businesswire.com/news/home/20221115005936/en/Members-of-the-U.S.-Banking-Community-Launch-Proof-of-Concept-For-A-Regulated-Digital-Asset-Settlement-Platform https://archive.vn/DlCMv
"In addition to the NYIC, the other participants on this project include the following financial institutions and payments organizations:"
- BNY Mellon
- Citi
- HSBC
- Mastercard
- PNC Bank
- TD Bank
- Truist
- U.S. Bank
- Wells Fargo.
CATO INSTITUTE - The Risks of CBDCs - Why Central Bank Digital Currencies Shouldn’t Be Adopted
https://www.cato.org/study/risks-of-cbdcs
J. Michael Evans - a Canadian technology executive and the President of Alibaba Group. He previously spent 20 years working for U.S. investment bank Goldman Sachs
https://en.wikipedia.org/wiki/J._Michael_Evans
“We’re developing, through technology, an ability for consumers to measure their own carbon footprint […] That’s where they’re traveling, how they are traveling, what are they eating, what are they consuming on the platform. So individual carbon footprint track. Stay tuned don't have it operational yet, but this is something we're working on.” — J. Michael Evans, President of Alibaba Group, WEF 2022
https://files.catbox.moe/dggthe.mp4
(Apr-3-2023) FedNow – CBDC introduction
FED releases FedNow service – the instant digital payments infrastructure. It’s the step to CBDC and surveillance era which will come soon...
Read a whole article of Przemysław Thomann on the Lean Community 'FreeLib' Library
https://leancommunity.org/fednow-cbdc-introduction/
A word about CBDC
🔴 FED releases FedNow service – the instant digital payments infrastructure 🔥 It’s the step to CBDC and surveillance era which will come soon 💬👇
🔴 In July 2023 Federal Reserve System (FED) announced release of their FedNow Service. It’s the infrastructure for instant payments between participants like banks, financial institutions or even fintechs.
🔴 FedNow running 24/7 will provide full digital infrastructure for instant payments focusing to be an attractive alternative for other payments systems. The payment is promised to be done within seconds, what makes this system providing great UX for end-user. It sounds like new era of fintech. But what’s the cost?
🔴 FedNow service is not CBDC… yet. It doesn’t provide any currency on top of it – it’s now just the infrastructure technology for payments. However, this infrastructure can in future become a part of CBDC. Doing just first step to the central banking technology based payments infrastructure, FED is simply starting integrating the idea of central banks ONLY controlled money.
🔴 Central banks currently control the money supply, soon will eliminate cash and replace it with their own monopoly payments infrastructure and ultimately currency. The banking industry will simply reduce to few central banks controlling the whole economy. Unlimited power, with the ability to spy and control every human economical interaction. This is the goal. Do you support this?
🔴 There is an alternative, which becomes more and more important. Bitcoin and other cryptocurrencies (hello Cardano). Yes – it’s digital too, but it’s complete opposite of CBDC. Decentralized, not available to control, not available to effectively block and stop. With fixed supply of 21M, not possible to be manipulated and broken as current FIAT – which in fact is now the source of power and decision-making where at the end it’s people who must pay for every decision done.
(April-14-2021) Digital Currency: Yuan comes with an expiry date: Spend or it will vanish
Christopher J. Waller - Board of Governors of the Federal Reserve
(Oct-14-2022) Speech by Governor Waller on the U.S. dollar and central bank digital currencies
https://www.federalreserve.gov/newsevents/speech/files/waller20221014a.pdf
Page 7-8
"Finally, as I’ve noted before, it is possible that a foreign-issued CBDC could have the opposite of its intended effect and make companies even less willing to use that country’s currency.
Since digital currencies would make it easier for a government to monitor transactions, shifting to a CBDC might make a company less willing to use that country’s currency. For example, I suspect that many companies will remain wary of China’s CBDC for just this reason."
Page 8 "Like a foreign CBDC, the technological advantages of a U.S. CBDC would have a hard time overcoming long-standing payments frictions without violating international financial integrity standards.
For the non-U.S. company already conducting its business in dollars, introducing a U.S. CBDC would not provide material benefits over and above the current reasons for making U.S. dollar-denominated payments. For non-U.S. companies conducting their business in currencies other than dollars, a U.S. CBDC similarly would likely not be preferred to their current options.
It could be that individuals outside the United States would find a U.S. CBDC particularly attractive, but, again, making a U.S. CBDC globally available would raise a number of issues, including money laundering and international financial stability concerns".
(Nov-16-2022) The Fed Just Launched a 12-Week Pilot CBDC Program | Heresy Financial
https://www.youtube.com/watch?v=l8HGRvkc0pA
(Nov-15-2022) New York Innovation Center to Explore Feasibility of Theoretical Payments System Designed to Facilitate and Settle Digital Asset Transactions
https://www.newyorkfed.org/newsevents/news/financial-services-and-infrastructure/2022/20221115
"As part of this 12-week project, the NYIC will collaborate with a group of private sector organizations to provide a public contribution to the body of knowledge on the application of new technology to the regulated financial system."
Facilitating Wholesale Digital Asset Settlement
https://www.newyorkfed.org/aboutthefed/nyic/facilitating-wholesale-digital-asset-settlement
Members of the U.S. Banking Community Launch Proof of Concept For A Regulated Digital Asset Settlement Platform https://www.businesswire.com/news/home/20221115005936/en/Members-of-the-U.S.-Banking-Community-Launch-Proof-of-Concept-For-A-Regulated-Digital-Asset-Settlement-Platform https://archive.vn/DlCMv
"In addition to the NYIC, the other participants on this project include the following financial institutions and payments organizations:"
- BNY Mellon
- Citi
- HSBC
- Mastercard
- PNC Bank
- TD Bank
- Truist
- U.S. Bank
- Wells Fargo.
CATO INSTITUTE - The Risks of CBDCs - Why Central Bank Digital Currencies Shouldn’t Be Adopted
https://www.cato.org/study/risks-of-cbdcs
J. Michael Evans - a Canadian technology executive and the President of Alibaba Group. He previously spent 20 years working for U.S. investment bank Goldman Sachs
https://en.wikipedia.org/wiki/J._Michael_Evans
“We’re developing, through technology, an ability for consumers to measure their own carbon footprint […] That’s where they’re traveling, how they are traveling, what are they eating, what are they consuming on the platform. So individual carbon footprint track. Stay tuned don't have it operational yet, but this is something we're working on.” — J. Michael Evans, President of Alibaba Group, WEF 2022
https://files.catbox.moe/dggthe.mp4
(Apr-3-2023) FedNow – CBDC introduction
FED releases FedNow service – the instant digital payments infrastructure. It’s the step to CBDC and surveillance era which will come soon...
Read a whole article of Przemysław Thomann on the Lean Community 'FreeLib' Library
https://leancommunity.org/fednow-cbdc-introduction/
A word about CBDC
🔴 FED releases FedNow service – the instant digital payments infrastructure 🔥 It’s the step to CBDC and surveillance era which will come soon 💬👇
🔴 In July 2023 Federal Reserve System (FED) announced release of their FedNow Service. It’s the infrastructure for instant payments between participants like banks, financial institutions or even fintechs.
🔴 FedNow running 24/7 will provide full digital infrastructure for instant payments focusing to be an attractive alternative for other payments systems. The payment is promised to be done within seconds, what makes this system providing great UX for end-user. It sounds like new era of fintech. But what’s the cost?
🔴 FedNow service is not CBDC… yet. It doesn’t provide any currency on top of it – it’s now just the infrastructure technology for payments. However, this infrastructure can in future become a part of CBDC. Doing just first step to the central banking technology based payments infrastructure, FED is simply starting integrating the idea of central banks ONLY controlled money.
🔴 Central banks currently control the money supply, soon will eliminate cash and replace it with their own monopoly payments infrastructure and ultimately currency. The banking industry will simply reduce to few central banks controlling the whole economy. Unlimited power, with the ability to spy and control every human economical interaction. This is the goal. Do you support this?
🔴 There is an alternative, which becomes more and more important. Bitcoin and other cryptocurrencies (hello Cardano). Yes – it’s digital too, but it’s complete opposite of CBDC. Decentralized, not available to control, not available to effectively block and stop. With fixed supply of 21M, not possible to be manipulated and broken as current FIAT – which in fact is now the source of power and decision-making where at the end it’s people who must pay for every decision done.
(April-14-2021) Digital Currency: Yuan comes with an expiry date: Spend or it will vanish
Christopher J. Waller - Board of Governors of the Federal Reserve
(Oct-14-2022) Speech by Governor Waller on the U.S. dollar and central bank digital currencies
https://www.federalreserve.gov/newsevents/speech/files/waller20221014a.pdf
Page 7-8
"Finally, as I’ve noted before, it is possible that a foreign-issued CBDC could have the opposite of its intended effect and make companies even less willing to use that country’s currency.
Since digital currencies would make it easier for a government to monitor transactions, shifting to a CBDC might make a company less willing to use that country’s currency. For example, I suspect that many companies will remain wary of China’s CBDC for just this reason."
Page 8 "Like a foreign CBDC, the technological advantages of a U.S. CBDC would have a hard time overcoming long-standing payments frictions without violating international financial integrity standards.
For the non-U.S. company already conducting its business in dollars, introducing a U.S. CBDC would not provide material benefits over and above the current reasons for making U.S. dollar-denominated payments. For non-U.S. companies conducting their business in currencies other than dollars, a U.S. CBDC similarly would likely not be preferred to their current options.
It could be that individuals outside the United States would find a U.S. CBDC particularly attractive, but, again, making a U.S. CBDC globally available would raise a number of issues, including money laundering and international financial stability concerns".
(Nov-16-2022) The Fed Just Launched a 12-Week Pilot CBDC Program | Heresy Financial
https://www.youtube.com/watch?v=l8HGRvkc0pA
(Nov-15-2022) New York Innovation Center to Explore Feasibility of Theoretical Payments System Designed to Facilitate and Settle Digital Asset Transactions
https://www.newyorkfed.org/newsevents/news/financial-services-and-infrastructure/2022/20221115
"As part of this 12-week project, the NYIC will collaborate with a group of private sector organizations to provide a public contribution to the body of knowledge on the application of new technology to the regulated financial system."
Facilitating Wholesale Digital Asset Settlement
https://www.newyorkfed.org/aboutthefed/nyic/facilitating-wholesale-digital-asset-settlement
Members of the U.S. Banking Community Launch Proof of Concept For A Regulated Digital Asset Settlement Platform https://www.businesswire.com/news/home/20221115005936/en/Members-of-the-U.S.-Banking-Community-Launch-Proof-of-Concept-For-A-Regulated-Digital-Asset-Settlement-Platform https://archive.vn/DlCMv
"In addition to the NYIC, the other participants on this project include the following financial institutions and payments organizations:"
- BNY Mellon
- Citi
- HSBC
- Mastercard
- PNC Bank
- TD Bank
- Truist
- U.S. Bank
- Wells Fargo.
CATO INSTITUTE - The Risks of CBDCs - Why Central Bank Digital Currencies Shouldn’t Be Adopted
https://www.cato.org/study/risks-of-cbdcs
J. Michael Evans - a Canadian technology executive and the President of Alibaba Group. He previously spent 20 years working for U.S. investment bank Goldman Sachs
https://en.wikipedia.org/wiki/J._Michael_Evans
“We’re developing, through technology, an ability for consumers to measure their own carbon footprint […] That’s where they’re traveling, how they are traveling, what are they eating, what are they consuming on the platform. So individual carbon footprint track. Stay tuned don't have it operational yet, but this is something we're working on.” — J. Michael Evans, President of Alibaba Group, WEF 2022
https://files.catbox.moe/dggthe.mp4
(Apr-3-2023) FedNow – CBDC introduction
FED releases FedNow service – the instant digital payments infrastructure. It’s the step to CBDC and surveillance era which will come soon...
Read a whole article of Przemysław Thomann on the Lean Community 'FreeLib' Library
https://leancommunity.org/fednow-cbdc-introduction/
A word about CBDC
🔴 FED releases FedNow service – the instant digital payments infrastructure 🔥 It’s the step to CBDC and surveillance era which will come soon 💬👇
🔴 In July 2023 Federal Reserve System (FED) announced release of their FedNow Service. It’s the infrastructure for instant payments between participants like banks, financial institutions or even fintechs.
🔴 FedNow running 24/7 will provide full digital infrastructure for instant payments focusing to be an attractive alternative for other payments systems. The payment is promised to be done within seconds, what makes this system providing great UX for end-user. It sounds like new era of fintech. But what’s the cost?
🔴 FedNow service is not CBDC… yet. It doesn’t provide any currency on top of it – it’s now just the infrastructure technology for payments. However, this infrastructure can in future become a part of CBDC. Doing just first step to the central banking technology based payments infrastructure, FED is simply starting integrating the idea of central banks ONLY controlled money.
🔴 Central banks currently control the money supply, soon will eliminate cash and replace it with their own monopoly payments infrastructure and ultimately currency. The banking industry will simply reduce to few central banks controlling the whole economy. Unlimited power, with the ability to spy and control every human economical interaction. This is the goal. Do you support this?
🔴 There is an alternative, which becomes more and more important. Bitcoin and other cryptocurrencies (hello Cardano). Yes – it’s digital too, but it’s complete opposite of CBDC. Decentralized, not available to control, not available to effectively block and stop. With fixed supply of 21M, not possible to be manipulated and broken as current FIAT – which in fact is now the source of power and decision-making where at the end it’s people who must pay for every decision done.
(April-14-2021) Digital Currency: Yuan comes with an expiry date: Spend or it will vanish
Christopher J. Waller - Board of Governors of the Federal Reserve
(Oct-14-2022) Speech by Governor Waller on the U.S. dollar and central bank digital currencies
https://www.federalreserve.gov/newsevents/speech/files/waller20221014a.pdf
Page 7-8
"Finally, as I’ve noted before, it is possible that a foreign-issued CBDC could have the opposite of its intended effect and make companies even less willing to use that country’s currency.
Since digital currencies would make it easier for a government to monitor transactions, shifting to a CBDC might make a company less willing to use that country’s currency. For example, I suspect that many companies will remain wary of China’s CBDC for just this reason."
Page 8 "Like a foreign CBDC, the technological advantages of a U.S. CBDC would have a hard time overcoming long-standing payments frictions without violating international financial integrity standards.
For the non-U.S. company already conducting its business in dollars, introducing a U.S. CBDC would not provide material benefits over and above the current reasons for making U.S. dollar-denominated payments. For non-U.S. companies conducting their business in currencies other than dollars, a U.S. CBDC similarly would likely not be preferred to their current options.
It could be that individuals outside the United States would find a U.S. CBDC particularly attractive, but, again, making a U.S. CBDC globally available would raise a number of issues, including money laundering and international financial stability concerns".
(Nov-16-2022) The Fed Just Launched a 12-Week Pilot CBDC Program | Heresy Financial
https://www.youtube.com/watch?v=l8HGRvkc0pA
(Nov-15-2022) New York Innovation Center to Explore Feasibility of Theoretical Payments System Designed to Facilitate and Settle Digital Asset Transactions
https://www.newyorkfed.org/newsevents/news/financial-services-and-infrastructure/2022/20221115
"As part of this 12-week project, the NYIC will collaborate with a group of private sector organizations to provide a public contribution to the body of knowledge on the application of new technology to the regulated financial system."
Facilitating Wholesale Digital Asset Settlement
https://www.newyorkfed.org/aboutthefed/nyic/facilitating-wholesale-digital-asset-settlement
Members of the U.S. Banking Community Launch Proof of Concept For A Regulated Digital Asset Settlement Platform https://www.businesswire.com/news/home/20221115005936/en/Members-of-the-U.S.-Banking-Community-Launch-Proof-of-Concept-For-A-Regulated-Digital-Asset-Settlement-Platform https://archive.vn/DlCMv
"In addition to the NYIC, the other participants on this project include the following financial institutions and payments organizations:"
- BNY Mellon
- Citi
- HSBC
- Mastercard
- PNC Bank
- TD Bank
- Truist
- U.S. Bank
- Wells Fargo.
CATO INSTITUTE - The Risks of CBDCs - Why Central Bank Digital Currencies Shouldn’t Be Adopted
https://www.cato.org/study/risks-of-cbdcs
J. Michael Evans - a Canadian technology executive and the President of Alibaba Group. He previously spent 20 years working for U.S. investment bank Goldman Sachs
https://en.wikipedia.org/wiki/J._Michael_Evans
“We’re developing, through technology, an ability for consumers to measure their own carbon footprint […] That’s where they’re traveling, how they are traveling, what are they eating, what are they consuming on the platform. So individual carbon footprint track. Stay tuned don't have it operational yet, but this is something we're working on.” — J. Michael Evans, President of Alibaba Group, WEF 2022
https://files.catbox.moe/dggthe.mp4
(Apr-3-2023) FedNow – CBDC introduction
FED releases FedNow service – the instant digital payments infrastructure. It’s the step to CBDC and surveillance era which will come soon...
Read a whole article of Przemysław Thomann on the Lean Community 'FreeLib' Library
https://leancommunity.org/fednow-cbdc-introduction/
A word about CBDC
🔴 FED releases FedNow service – the instant digital payments infrastructure 🔥 It’s the step to CBDC and surveillance era which will come soon 💬👇
🔴 In July 2023 Federal Reserve System (FED) announced release of their FedNow Service. It’s the infrastructure for instant payments between participants like banks, financial institutions or even fintechs.
🔴 FedNow running 24/7 will provide full digital infrastructure for instant payments focusing to be an attractive alternative for other payments systems. The payment is promised to be done within seconds, what makes this system providing great UX for end-user. It sounds like new era of fintech. But what’s the cost?
🔴 FedNow service is not CBDC… yet. It doesn’t provide any currency on top of it – it’s now just the infrastructure technology for payments. However, this infrastructure can in future become a part of CBDC. Doing just first step to the central banking technology based payments infrastructure, FED is simply starting integrating the idea of central banks ONLY controlled money.
🔴 Central banks currently control the money supply, soon will eliminate cash and replace it with their own monopoly payments infrastructure and ultimately currency. The banking industry will simply reduce to few central banks controlling the whole economy. Unlimited power, with the ability to spy and control every human economical interaction. This is the goal. Do you support this?
🔴 There is an alternative, which becomes more and more important. Bitcoin and other cryptocurrencies (hello Cardano). Yes – it’s digital too, but it’s complete opposite of CBDC. Decentralized, not available to control, not available to effectively block and stop. With fixed supply of 21M, not possible to be manipulated and broken as current FIAT – which in fact is now the source of power and decision-making where at the end it’s people who must pay for every decision done.
(April-14-2021) Digital Currency: Yuan comes with an expiry date: Spend or it will vanish
Christopher J. Waller - Board of Governors of the Federal Reserve
(Oct-14-2022) Speech by Governor Waller on the U.S. dollar and central bank digital currencies
https://www.federalreserve.gov/newsevents/speech/files/waller20221014a.pdf
Page 7-8
"Finally, as I’ve noted before, it is possible that a foreign-issued CBDC could have the opposite of its intended effect and make companies even less willing to use that country’s currency.
Since digital currencies would make it easier for a government to monitor transactions, shifting to a CBDC might make a company less willing to use that country’s currency. For example, I suspect that many companies will remain wary of China’s CBDC for just this reason."
Page 8 "Like a foreign CBDC, the technological advantages of a U.S. CBDC would have a hard time overcoming long-standing payments frictions without violating international financial integrity standards.
For the non-U.S. company already conducting its business in dollars, introducing a U.S. CBDC would not provide material benefits over and above the current reasons for making U.S. dollar-denominated payments. For non-U.S. companies conducting their business in currencies other than dollars, a U.S. CBDC similarly would likely not be preferred to their current options.
It could be that individuals outside the United States would find a U.S. CBDC particularly attractive, but, again, making a U.S. CBDC globally available would raise a number of issues, including money laundering and international financial stability concerns".
(Nov-16-2022) The Fed Just Launched a 12-Week Pilot CBDC Program | Heresy Financial
https://www.youtube.com/watch?v=l8HGRvkc0pA
(Nov-15-2022) New York Innovation Center to Explore Feasibility of Theoretical Payments System Designed to Facilitate and Settle Digital Asset Transactions
https://www.newyorkfed.org/newsevents/news/financial-services-and-infrastructure/2022/20221115
"As part of this 12-week project, the NYIC will collaborate with a group of private sector organizations to provide a public contribution to the body of knowledge on the application of new technology to the regulated financial system."
Facilitating Wholesale Digital Asset Settlement
https://www.newyorkfed.org/aboutthefed/nyic/facilitating-wholesale-digital-asset-settlement
Members of the U.S. Banking Community Launch Proof of Concept For A Regulated Digital Asset Settlement Platform https://www.businesswire.com/news/home/20221115005936/en/Members-of-the-U.S.-Banking-Community-Launch-Proof-of-Concept-For-A-Regulated-Digital-Asset-Settlement-Platform https://archive.vn/DlCMv
"In addition to the NYIC, the other participants on this project include the following financial institutions and payments organizations:"
- BNY Mellon
- Citi
- HSBC
- Mastercard
- PNC Bank
- TD Bank
- Truist
- U.S. Bank
- Wells Fargo.
CATO INSTITUTE - The Risks of CBDCs - Why Central Bank Digital Currencies Shouldn’t Be Adopted
https://www.cato.org/study/risks-of-cbdcs
J. Michael Evans - a Canadian technology executive and the President of Alibaba Group. He previously spent 20 years working for U.S. investment bank Goldman Sachs
https://en.wikipedia.org/wiki/J._Michael_Evans
“We’re developing, through technology, an ability for consumers to measure their own carbon footprint […] That’s where they’re traveling, how they are traveling, what are they eating, what are they consuming on the platform. So individual carbon footprint track. Stay tuned don't have it operational yet, but this is something we're working on.” — J. Michael Evans, President of Alibaba Group, WEF 2022
https://files.catbox.moe/dggthe.mp4
(Apr-3-2023) FedNow – CBDC introduction
FED releases FedNow service – the instant digital payments infrastructure. It’s the step to CBDC and surveillance era which will come soon...
Read a whole article of Przemysław Thomann on the Lean Community 'FreeLib' Library
https://leancommunity.org/fednow-cbdc-introduction/
A word about CBDC
🔴 FED releases FedNow service – the instant digital payments infrastructure 🔥 It’s the step to CBDC and surveillance era which will come soon 💬👇
🔴 In July 2023 Federal Reserve System (FED) announced release of their FedNow Service. It’s the infrastructure for instant payments between participants like banks, financial institutions or even fintechs.
🔴 FedNow running 24/7 will provide full digital infrastructure for instant payments focusing to be an attractive alternative for other payments systems. The payment is promised to be done within seconds, what makes this system providing great UX for end-user. It sounds like new era of fintech. But what’s the cost?
🔴 FedNow service is not CBDC… yet. It doesn’t provide any currency on top of it – it’s now just the infrastructure technology for payments. However, this infrastructure can in future become a part of CBDC. Doing just first step to the central banking technology based payments infrastructure, FED is simply starting integrating the idea of central banks ONLY controlled money.
🔴 Central banks currently control the money supply, soon will eliminate cash and replace it with their own monopoly payments infrastructure and ultimately currency. The banking industry will simply reduce to few central banks controlling the whole economy. Unlimited power, with the ability to spy and control every human economical interaction. This is the goal. Do you support this?
🔴 There is an alternative, which becomes more and more important. Bitcoin and other cryptocurrencies (hello Cardano). Yes – it’s digital too, but it’s complete opposite of CBDC. Decentralized, not available to control, not available to effectively block and stop. With fixed supply of 21M, not possible to be manipulated and broken as current FIAT – which in fact is now the source of power and decision-making where at the end it’s people who must pay for every decision done.
(April-14-2021) Digital Currency: Yuan comes with an expiry date: Spend or it will vanish
Christopher J. Waller - Board of Governors of the Federal Reserve
(Oct-14-2022) Speech by Governor Waller on the U.S. dollar and central bank digital currencies
https://www.federalreserve.gov/newsevents/speech/files/waller20221014a.pdf
Page 7-8
"Finally, as I’ve noted before, it is possible that a foreign-issued CBDC could have the opposite of its intended effect and make companies even less willing to use that country’s currency.
Since digital currencies would make it easier for a government to monitor transactions, shifting to a CBDC might make a company less willing to use that country’s currency. For example, I suspect that many companies will remain wary of China’s CBDC for just this reason."
Page 8 "Like a foreign CBDC, the technological advantages of a U.S. CBDC would have a hard time overcoming long-standing payments frictions without violating international financial integrity standards.
For the non-U.S. company already conducting its business in dollars, introducing a U.S. CBDC would not provide material benefits over and above the current reasons for making U.S. dollar-denominated payments. For non-U.S. companies conducting their business in currencies other than dollars, a U.S. CBDC similarly would likely not be preferred to their current options.
It could be that individuals outside the United States would find a U.S. CBDC particularly attractive, but, again, making a U.S. CBDC globally available would raise a number of issues, including money laundering and international financial stability concerns".
(Nov-16-2022) The Fed Just Launched a 12-Week Pilot CBDC Program | Heresy Financial
https://www.youtube.com/watch?v=l8HGRvkc0pA
(Nov-15-2022) New York Innovation Center to Explore Feasibility of Theoretical Payments System Designed to Facilitate and Settle Digital Asset Transactions
https://www.newyorkfed.org/newsevents/news/financial-services-and-infrastructure/2022/20221115
"As part of this 12-week project, the NYIC will collaborate with a group of private sector organizations to provide a public contribution to the body of knowledge on the application of new technology to the regulated financial system."
Facilitating Wholesale Digital Asset Settlement
https://www.newyorkfed.org/aboutthefed/nyic/facilitating-wholesale-digital-asset-settlement
Members of the U.S. Banking Community Launch Proof of Concept For A Regulated Digital Asset Settlement Platform https://www.businesswire.com/news/home/20221115005936/en/Members-of-the-U.S.-Banking-Community-Launch-Proof-of-Concept-For-A-Regulated-Digital-Asset-Settlement-Platform https://archive.vn/DlCMv
"In addition to the NYIC, the other participants on this project include the following financial institutions and payments organizations:"
- BNY Mellon
- Citi
- HSBC
- Mastercard
- PNC Bank
- TD Bank
- Truist
- U.S. Bank
- Wells Fargo.
CATO INSTITUTE - The Risks of CBDCs - Why Central Bank Digital Currencies Shouldn’t Be Adopted
https://www.cato.org/study/risks-of-cbdcs
J. Michael Evans - a Canadian technology executive and the President of Alibaba Group. He previously spent 20 years working for U.S. investment bank Goldman Sachs
https://en.wikipedia.org/wiki/J._Michael_Evans
“We’re developing, through technology, an ability for consumers to measure their own carbon footprint […] That’s where they’re traveling, how they are traveling, what are they eating, what are they consuming on the platform. So individual carbon footprint track. Stay tuned don't have it operational yet, but this is something we're working on.” — J. Michael Evans, President of Alibaba Group, WEF 2022
https://files.catbox.moe/dggthe.mp4
(Apr-3-2023) FedNow – CBDC introduction
FED releases FedNow service – the instant digital payments infrastructure. It’s the step to CBDC and surveillance era which will come soon...
Read a whole article of Przemysław Thomann on the Lean Community 'FreeLib' Library
https://leancommunity.org/fednow-cbdc-introduction/
A word about CBDC
🔴 FED releases FedNow service – the instant digital payments infrastructure 🔥 It’s the step to CBDC and surveillance era which will come soon 💬👇
🔴 In July 2023 Federal Reserve System (FED) announced release of their FedNow Service. It’s the infrastructure for instant payments between participants like banks, financial institutions or even fintechs.
🔴 FedNow running 24/7 will provide full digital infrastructure for instant payments focusing to be an attractive alternative for other payments systems. The payment is promised to be done within seconds, what makes this system providing great UX for end-user. It sounds like new era of fintech. But what’s the cost?
🔴 FedNow service is not CBDC… yet. It doesn’t provide any currency on top of it – it’s now just the infrastructure technology for payments. However, this infrastructure can in future become a part of CBDC. Doing just first step to the central banking technology based payments infrastructure, FED is simply starting integrating the idea of central banks ONLY controlled money.
🔴 Central banks currently control the money supply, soon will eliminate cash and replace it with their own monopoly payments infrastructure and ultimately currency. The banking industry will simply reduce to few central banks controlling the whole economy. Unlimited power, with the ability to spy and control every human economical interaction. This is the goal. Do you support this?
🔴 There is an alternative, which becomes more and more important. Bitcoin and other cryptocurrencies (hello Cardano). Yes – it’s digital too, but it’s complete opposite of CBDC. Decentralized, not available to control, not available to effectively block and stop. With fixed supply of 21M, not possible to be manipulated and broken as current FIAT – which in fact is now the source of power and decision-making where at the end it’s people who must pay for every decision done.
(April-14-2021) Digital Currency: Yuan comes with an expiry date: Spend or it will vanish
Christopher J. Waller - Board of Governors of the Federal Reserve
(Oct-14-2022) Speech by Governor Waller on the U.S. dollar and central bank digital currencies
https://www.federalreserve.gov/newsevents/speech/files/waller20221014a.pdf
Page 7-8
"Finally, as I’ve noted before, it is possible that a foreign-issued CBDC could have the opposite of its intended effect and make companies even less willing to use that country’s currency.
Since digital currencies would make it easier for a government to monitor transactions, shifting to a CBDC might make a company less willing to use that country’s currency. For example, I suspect that many companies will remain wary of China’s CBDC for just this reason."
Page 8 "Like a foreign CBDC, the technological advantages of a U.S. CBDC would have a hard time overcoming long-standing payments frictions without violating international financial integrity standards.
For the non-U.S. company already conducting its business in dollars, introducing a U.S. CBDC would not provide material benefits over and above the current reasons for making U.S. dollar-denominated payments. For non-U.S. companies conducting their business in currencies other than dollars, a U.S. CBDC similarly would likely not be preferred to their current options.
It could be that individuals outside the United States would find a U.S. CBDC particularly attractive, but, again, making a U.S. CBDC globally available would raise a number of issues, including money laundering and international financial stability concerns".
(Nov-16-2022) The Fed Just Launched a 12-Week Pilot CBDC Program | Heresy Financial https://www.youtube.com/watch?v=l8HGRvkc0pA
Timecodes 0:00 Federal Reserve Releasing a CBDC 12 Week Program 2:48 Exploring Interoperable Networks on Distributed Ledgers 4:55 Testing Distributed Ledger Technology 8:47 How Dangerous This New CBDC Is
(Nov-15-2022) New York Innovation Center to Explore Feasibility of Theoretical Payments System Designed to Facilitate and Settle Digital Asset Transactions https://www.newyorkfed.org/newsevents/news/financial-services-and-infrastructure/2022/20221115 https://archive.vn/B5FNR
"As part of this 12-week project, the NYIC will collaborate with a group of private sector organizations to provide a public contribution to the body of knowledge on the application of new technology to the regulated financial system."
Facilitating Wholesale Digital Asset Settlement https://www.newyorkfed.org/aboutthefed/nyic/facilitating-wholesale-digital-asset-settlement https://archive.vn/r6HH5
Members of the U.S. Banking Community Launch Proof of Concept For A Regulated Digital Asset Settlement Platform https://www.businesswire.com/news/home/20221115005936/en/Members-of-the-U.S.-Banking-Community-Launch-Proof-of-Concept-For-A-Regulated-Digital-Asset-Settlement-Platform https://archive.vn/DlCMv
"In addition to the NYIC, the other participants on this project include the following financial institutions and payments organizations:"
- BNY Mellon
- Citi
- HSBC
- Mastercard
- PNC Bank
- TD Bank
- Truist
- U.S. Bank
- Wells Fargo.
CATO INSTITUTE - The Risks of CBDCs - Why Central Bank Digital Currencies Shouldn’t Be Adopted
https://www.cato.org/study/risks-of-cbdcs
J. Michael Evans - a Canadian technology executive and the President of Alibaba Group. He previously spent 20 years working for U.S. investment bank Goldman Sachs
https://en.wikipedia.org/wiki/J._Michael_Evans
“We’re developing, through technology, an ability for consumers to measure their own carbon footprint […] That’s where they’re traveling, how they are traveling, what are they eating, what are they consuming on the platform. So individual carbon footprint track. Stay tuned don't have it operational yet, but this is something we're working on.” — J. Michael Evans, President of Alibaba Group, WEF 2022
https://files.catbox.moe/dggthe.mp4
(Apr-3-2023) FedNow – CBDC introduction
FED releases FedNow service – the instant digital payments infrastructure. It’s the step to CBDC and surveillance era which will come soon...
Read a whole article of Przemysław Thomann on the Lean Community 'FreeLib' Library
https://leancommunity.org/fednow-cbdc-introduction/
A word about CBDC
🔴 FED releases FedNow service – the instant digital payments infrastructure 🔥 It’s the step to CBDC and surveillance era which will come soon 💬👇
🔴 In July 2023 Federal Reserve System (FED) announced release of their FedNow Service. It’s the infrastructure for instant payments between participants like banks, financial institutions or even fintechs.
🔴 FedNow running 24/7 will provide full digital infrastructure for instant payments focusing to be an attractive alternative for other payments systems. The payment is promised to be done within seconds, what makes this system providing great UX for end-user. It sounds like new era of fintech. But what’s the cost?
🔴 FedNow service is not CBDC… yet. It doesn’t provide any currency on top of it – it’s now just the infrastructure technology for payments. However, this infrastructure can in future become a part of CBDC. Doing just first step to the central banking technology based payments infrastructure, FED is simply starting integrating the idea of central banks ONLY controlled money.
🔴 Central banks currently control the money supply, soon will eliminate cash and replace it with their own monopoly payments infrastructure and ultimately currency. The banking industry will simply reduce to few central banks controlling the whole economy. Unlimited power, with the ability to spy and control every human economical interaction. This is the goal. Do you support this?
🔴 There is an alternative, which becomes more and more important. Bitcoin and other cryptocurrencies (hello Cardano). Yes – it’s digital too, but it’s complete opposite of CBDC. Decentralized, not available to control, not available to effectively block and stop. With fixed supply of 21M, not possible to be manipulated and broken as current FIAT – which in fact is now the source of power and decision-making where at the end it’s people who must pay for every decision done.
(April-14-2021) Digital Currency: Yuan comes with an expiry date: Spend or it will vanish
Christopher J. Waller - Board of Governors of the Federal Reserve
(Oct-14-2022) Speech by Governor Waller on the U.S. dollar and central bank digital currencies
https://www.federalreserve.gov/newsevents/speech/files/waller20221014a.pdf
Page 7-8
"Finally, as I’ve noted before, it is possible that a foreign-issued CBDC could have the opposite of its intended effect and make companies even less willing to use that country’s currency.
Since digital currencies would make it easier for a government to monitor transactions, shifting to a CBDC might make a company less willing to use that country’s currency. For example, I suspect that many companies will remain wary of China’s CBDC for just this reason."
Page 8 "Like a foreign CBDC, the technological advantages of a U.S. CBDC would have a hard time overcoming long-standing payments frictions without violating international financial integrity standards.
For the non-U.S. company already conducting its business in dollars, introducing a U.S. CBDC would not provide material benefits over and above the current reasons for making U.S. dollar-denominated payments. For non-U.S. companies conducting their business in currencies other than dollars, a U.S. CBDC similarly would likely not be preferred to their current options.
It could be that individuals outside the United States would find a U.S. CBDC particularly attractive, but, again, making a U.S. CBDC globally available would raise a number of issues, including money laundering and international financial stability concerns".
(Nov-16-2022) The Fed Just Launched a 12-Week Pilot CBDC Program | Heresy Financial https://www.youtube.com/watch?v=l8HGRvkc0pA
Timecodes 0:00 Federal Reserve Releasing a CBDC 12 Week Program 2:48 Exploring Interoperable Networks on Distributed Ledgers 4:55 Testing Distributed Ledger Technology 8:47 How Dangerous This New CBDC Is
(Nov-15-2022) New York Innovation Center to Explore Feasibility of Theoretical Payments System Designed to Facilitate and Settle Digital Asset Transactions https://www.newyorkfed.org/newsevents/news/financial-services-and-infrastructure/2022/20221115 https://archive.vn/B5FNR
"As part of this 12-week project, the NYIC will collaborate with a group of private sector organizations to provide a public contribution to the body of knowledge on the application of new technology to the regulated financial system."
Facilitating Wholesale Digital Asset Settlement https://www.newyorkfed.org/aboutthefed/nyic/facilitating-wholesale-digital-asset-settlement https://archive.vn/r6HH5
Members of the U.S. Banking Community Launch Proof of Concept For A Regulated Digital Asset Settlement Platform https://www.businesswire.com/news/home/20221115005936/en/Members-of-the-U.S.-Banking-Community-Launch-Proof-of-Concept-For-A-Regulated-Digital-Asset-Settlement-Platform https://archive.vn/DlCMv
"In addition to the NYIC, the other participants on this project include the following financial institutions and payments organizations:"
- BNY Mellon
- Citi
- HSBC
- Mastercard
- PNC Bank
- TD Bank
- Truist
- U.S. Bank
- Wells Fargo.
CATO INSTITUTE - The Risks of CBDCs - Why Central Bank Digital Currencies Shouldn’t Be Adopted
https://www.cato.org/study/risks-of-cbdcs
J. Michael Evans - a Canadian technology executive and the President of Alibaba Group. He previously spent 20 years working for U.S. investment bank Goldman Sachs
https://en.wikipedia.org/wiki/J._Michael_Evans
“We’re developing, through technology, an ability for consumers to measure their own carbon footprint […] That’s where they’re traveling, how they are traveling, what are they eating, what are they consuming on the platform. So individual carbon footprint track. Stay tuned don't have it operational yet, but this is something we're working on.” — J. Michael Evans, President of Alibaba Group, WEF 2022
https://files.catbox.moe/dggthe.mp4
FedNow – CBDC introduction
FED releases FedNow service – the instant digital payments infrastructure. It’s the step to CBDC and surveillance era which will come soon...
Read a whole article of Przemysław Thomann on the Lean Community 'FreeLib' Library
https://leancommunity.org/fednow-cbdc-introduction/
A word about CBDC
🔴 FED releases FedNow service – the instant digital payments infrastructure 🔥 It’s the step to CBDC and surveillance era which will come soon 💬👇
🔴 In July 2023 Federal Reserve System (FED) announced release of their FedNow Service. It’s the infrastructure for instant payments between participants like banks, financial institutions or even fintechs.
🔴 FedNow running 24/7 will provide full digital infrastructure for instant payments focusing to be an attractive alternative for other payments systems. The payment is promised to be done within seconds, what makes this system providing great UX for end-user. It sounds like new era of fintech. But what’s the cost?
🔴 FedNow service is not CBDC… yet. It doesn’t provide any currency on top of it – it’s now just the infrastructure technology for payments. However, this infrastructure can in future become a part of CBDC. Doing just first step to the central banking technology based payments infrastructure, FED is simply starting integrating the idea of central banks ONLY controlled money.
🔴 Central banks currently control the money supply, soon will eliminate cash and replace it with their own monopoly payments infrastructure and ultimately currency. The banking industry will simply reduce to few central banks controlling the whole economy. Unlimited power, with the ability to spy and control every human economical interaction. This is the goal. Do you support this?
🔴 There is an alternative, which becomes more and more important. Bitcoin and other cryptocurrencies (hello Cardano). Yes – it’s digital too, but it’s complete opposite of CBDC. Decentralized, not available to control, not available to effectively block and stop. With fixed supply of 21M, not possible to be manipulated and broken as current FIAT – which in fact is now the source of power and decision-making where at the end it’s people who must pay for every decision done.
(April-14-2021) Digital Currency: Yuan comes with an expiry date: Spend or it will vanish
Christopher J. Waller - Board of Governors of the Federal Reserve
(Oct-14-2022) Speech by Governor Waller on the U.S. dollar and central bank digital currencies
https://www.federalreserve.gov/newsevents/speech/files/waller20221014a.pdf
Page 7-8
"Finally, as I’ve noted before, it is possible that a foreign-issued CBDC could have the opposite of its intended effect and make companies even less willing to use that country’s currency.
Since digital currencies would make it easier for a government to monitor transactions, shifting to a CBDC might make a company less willing to use that country’s currency. For example, I suspect that many companies will remain wary of China’s CBDC for just this reason."
Page 8 "Like a foreign CBDC, the technological advantages of a U.S. CBDC would have a hard time overcoming long-standing payments frictions without violating international financial integrity standards.
For the non-U.S. company already conducting its business in dollars, introducing a U.S. CBDC would not provide material benefits over and above the current reasons for making U.S. dollar-denominated payments. For non-U.S. companies conducting their business in currencies other than dollars, a U.S. CBDC similarly would likely not be preferred to their current options.
It could be that individuals outside the United States would find a U.S. CBDC particularly attractive, but, again, making a U.S. CBDC globally available would raise a number of issues, including money laundering and international financial stability concerns".
(Nov-16-2022) The Fed Just Launched a 12-Week Pilot CBDC Program | Heresy Financial https://www.youtube.com/watch?v=l8HGRvkc0pA
Timecodes 0:00 Federal Reserve Releasing a CBDC 12 Week Program 2:48 Exploring Interoperable Networks on Distributed Ledgers 4:55 Testing Distributed Ledger Technology 8:47 How Dangerous This New CBDC Is
(Nov-15-2022) New York Innovation Center to Explore Feasibility of Theoretical Payments System Designed to Facilitate and Settle Digital Asset Transactions https://www.newyorkfed.org/newsevents/news/financial-services-and-infrastructure/2022/20221115 https://archive.vn/B5FNR
"As part of this 12-week project, the NYIC will collaborate with a group of private sector organizations to provide a public contribution to the body of knowledge on the application of new technology to the regulated financial system."
Facilitating Wholesale Digital Asset Settlement https://www.newyorkfed.org/aboutthefed/nyic/facilitating-wholesale-digital-asset-settlement https://archive.vn/r6HH5
Members of the U.S. Banking Community Launch Proof of Concept For A Regulated Digital Asset Settlement Platform https://www.businesswire.com/news/home/20221115005936/en/Members-of-the-U.S.-Banking-Community-Launch-Proof-of-Concept-For-A-Regulated-Digital-Asset-Settlement-Platform https://archive.vn/DlCMv
"In addition to the NYIC, the other participants on this project include the following financial institutions and payments organizations:"
- BNY Mellon
- Citi
- HSBC
- Mastercard
- PNC Bank
- TD Bank
- Truist
- U.S. Bank
- Wells Fargo.
CATO INSTITUTE - The Risks of CBDCs - Why Central Bank Digital Currencies Shouldn’t Be Adopted
https://www.cato.org/study/risks-of-cbdcs
🚨Totalitarian Control🚨
Western countries continue to develop their #DigitalID & #CBDC
It’s coming - make NO mistake.
The only way to STOP IT, Is if enough of us say NO.
Let’s all learn the lessons from #COVID19 & resist together.
They think we’re SLAVES & want to own us https://files.catbox.moe/dggthe.mp4
FedNow – CBDC introduction
FED releases FedNow service – the instant digital payments infrastructure. It’s the step to CBDC and surveillance era which will come soon...
Read a whole article of Przemysław Thomann on the Lean Community 'FreeLib' Library
https://leancommunity.org/fednow-cbdc-introduction/
A word about CBDC
🔴 FED releases FedNow service – the instant digital payments infrastructure 🔥 It’s the step to CBDC and surveillance era which will come soon 💬👇
🔴 In July 2023 Federal Reserve System (FED) announced release of their FedNow Service. It’s the infrastructure for instant payments between participants like banks, financial institutions or even fintechs.
🔴 FedNow running 24/7 will provide full digital infrastructure for instant payments focusing to be an attractive alternative for other payments systems. The payment is promised to be done within seconds, what makes this system providing great UX for end-user. It sounds like new era of fintech. But what’s the cost?
🔴 FedNow service is not CBDC… yet. It doesn’t provide any currency on top of it – it’s now just the infrastructure technology for payments. However, this infrastructure can in future become a part of CBDC. Doing just first step to the central banking technology based payments infrastructure, FED is simply starting integrating the idea of central banks ONLY controlled money.
🔴 Central banks currently control the money supply, soon will eliminate cash and replace it with their own monopoly payments infrastructure and ultimately currency. The banking industry will simply reduce to few central banks controlling the whole economy. Unlimited power, with the ability to spy and control every human economical interaction. This is the goal. Do you support this?
🔴 There is an alternative, which becomes more and more important. Bitcoin and other cryptocurrencies (hello Cardano). Yes – it’s digital too, but it’s complete opposite of CBDC. Decentralized, not available to control, not available to effectively block and stop. With fixed supply of 21M, not possible to be manipulated and broken as current FIAT – which in fact is now the source of power and decision-making where at the end it’s people who must pay for every decision done.
(April-14-2021) Digital Currency: Yuan comes with an expiry date: Spend or it will vanish
FedNow – CBDC introduction
FED releases FedNow service – the instant digital payments infrastructure. It’s the step to CBDC and surveillance era which will come soon...
Read a whole article of Przemysław Thomann on the Lean Community 'FreeLib' Library
https://leancommunity.org/fednow-cbdc-introduction/
A word about CBDC
🔴 FED releases FedNow service – the instant digital payments infrastructure 🔥 It’s the step to CBDC and surveillance era which will come soon 💬👇
🔴 In July 2023 Federal Reserve System (FED) announced release of their FedNow Service. It’s the infrastructure for instant payments between participants like banks, financial institutions or even fintechs.
🔴 FedNow running 24/7 will provide full digital infrastructure for instant payments focusing to be an attractive alternative for other payments systems. The payment is promised to be done within seconds, what makes this system providing great UX for end-user. It sounds like new era of fintech. But what’s the cost?
🔴 FedNow service is not CBDC… yet. It doesn’t provide any currency on top of it – it’s now just the infrastructure technology for payments. However, this infrastructure can in future become a part of CBDC. Doing just first step to the central banking technology based payments infrastructure, FED is simply starting integrating the idea of central banks ONLY controlled money.
🔴 Central banks currently control the money supply, soon will eliminate cash and replace it with their own monopoly payments infrastructure and ultimately currency. The banking industry will simply reduce to few central banks controlling the whole economy. Unlimited power, with the ability to spy and control every human economical interaction. This is the goal. Do you support this?
🔴 There is an alternative, which becomes more and more important. Bitcoin and other cryptocurrencies (hello Cardano). Yes – it’s digital too, but it’s complete opposite of CBDC. Decentralized, not available to control, not available to effectively block and stop. With fixed supply of 21M, not possible to be manipulated and broken as current FIAT – which in fact is now the source of power and decision-making where at the end it’s people who must pay for every decision done.
(April-14-2021) Digital Currency: Yuan comes with an expiry date: Spend or it will vanish