The Fed Is NOT Likely To Bring Out A CBDC
There is a lot of discussion about FedCoin. It looks like, according to a conference the Fed had, that the idea of a CBDC was not well received.
In this video we discuss how Chairman Powell's most (only) redemming feature was that he didn't believe in a CBDC. It was likely that he was going to drag his feet on it.
Now we are getting word of where many at the Fed stand on this matter.
No CBDC from the Fed anytime soon.
Here is the article discussed in the video:
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Yep! They will because it gives them more power over citizens. All transactions can be traced and policed.
Depends upon who you think wants this. The Fed has no desire since it is not in their interest. They gain nothing from it. A CBDC will only kill the commercial banks who, incidentally, own the Fed.
Politicians, on the other hand, they are drooling for this. We can see the Dems in Congress pushing for this control. Of course, give it enough time and the Republicans will want the same.
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Which is so weird. Dems used to be about freedom and labor. Now it's about being woke. In my lifespan I have seen such a switch I'm amazed.
The banks don't want a CBDC and I also think it's not likely. However, Congress might just force one through but it will takes years for that to happen.
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To do that they will have to change the law since what the Fed creates is not legal tender. That will likely make for a huge fight.
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In my knowledge campaign to the local banks and politicians around me, I’m going to educate them on how a CBDC is an abomination and they need to put their power and energy into fighting it. The local banks I deal with absolutely do not want it because that means they will eventually close because they will become obsolete.
I’m glad to see this, even if it’s just smoke and mirrors.
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The local banks are obsolete anyway. Cryptocurrency and DeFi basically assure this.
Most people use a bank to store, send and receive money. This is what a digital wallet does without the need for the banks.
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Yeah I know that it will replace them but I’ll be damned if I don’t try to spread information as much as possible against the CBDC tyranny.
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