News

[Jay]

NEW YORK (Reuters) - Global banking giants are starting a 12-week digital dollar pilot with the Federal Reserve Bank of New York, the participants announced on Tuesday.

Citigroup Inc, HSBC Holdings Plc, Mastercard Inc and Wells Fargo & Co are among the financial companies participating in the experiment alongside the New York Fed's innovation center, they said in a statement. The project, which is called the regulated liability network, will be conducted in a test environment and use simulated data, the New York Fed said.

The pilot will test how banks using digital dollar tokens in a common database can help speed up payments.

Earlier this month, Michelle Neal, head of the New York Fed's market's group, said it sees promise in using a central bank digital dollar to speed up settlement time in currency markets.

This will be the death of freedom. All bank accounts will be directly attached to the government and we will no longer be able to use cash.

 

[EnochSolidus1993]

 

[Hell Johnson]

Sound like another fiat currency where they print digital money for everyone except FBA.

 

[D-Mann]

Sound like another fiat currency where they print digital money for everyone except FBA.

This could be a way they pay reparations out forcing it on us first and others would fall in line seeing us use it. A lot of folks would resist this at first.

 

[RCNAL]

It won't be good. Whatever conspiracy theory you subscribe to:
Trilateral
Book of Revelations, one currency, mark of the beast, yadda, yadda
etc.

This fits nicely into all of it. Just to be clear. The Federal Reserve is not a government agency. Its a private organization. A few politicians including both Ron Paul and his son Rand Paul while in Congress have not been able to get access to the Fed's inner workings as sitting members of Congress. Let that sink in, elected members of the government can't get into on the group that has control over the country's money.

 

[The Honorable]

It won't be good. Whatever conspiracy theory you subscribe to:
Trilateral
Book of Revelations, one currency, mark of the beast, yadda, yadda
etc.

This fits nicely into all of it. Just to be clear. The Federal Reserve is not a government agency. Its a private organization. A few politicians including both Ron Paul and his son Rand Paul while in Congress have not been able to get access to the Fed's inner workings as sitting members of Congress. Let that sink in, elected members of the government can't get into on the group that has control over the country's money.

Alan Greenspan's notorious interview made it clear when the interviewer asked something to the effect of "Do you consider Bill Clinton's agenda when you take action" and Greenspan responded "What the President's thoughts may be are irrelevant to the Federal Reserve". None of that was a direct quote but it was paraphrased. My eyes bucked when I first heard it and from then on I knew that the President was not the ultimate authority in the nation.

 

[Finesse]

This all sounds like foreign language to me, but I think all I need to know is digital and currency and I think it's easy to figure it out from that. So is this their first step to their own cryptocurrency and control of digital transactions? That's what I'm getting from this, so if anyone can explain to a big ol idiot like myself, it would be appreciated.

If it is for the government to control finances, no thanks!

 

[ZxBro]

They want to do away with fiat cash move closer to that one world government. Stay tuned don't be surprised if we get "locked down" again!

 

[phairhenry]

Yeah it’s a changing world. Gold & Silver is the solution. People should be buying Gold and Silver with their savings to hedge against inflation and the CBDCs. You only convert gold/silver when and if you need to use CBDCs for payment locally or cross border internationally. Gold & silver has no counter party risk. It’s also in your possession. It’s outside of all monetary systems but has the broadest base of buyer and acceptance. Gold & silver or precious metals is real money. FIAT was created because it was a better medium of exchange but when you print it to oblivion it becomes worthless. Hence inflation. CBDCs if the evolution of FIAT. only upside to CBDCs is one can monitor and track money supply increases and decreases. You would be able to see if the Federal Reserve is creating the money or if commercial paper money or CBDCs is being increased due to bank financial products.