Federal Reserve Bank Programable Digital Currency

a reply to: ancientlight

Please don't be fooled by the reptilian psy-op. Central Barkers are evil enough as humans.

About CBDCs (central bank digital currencies):

They allow for extreme privacy invasion, as the US has recently warned about China's CBDC just before the Olympics.

The Bahamas supposedly has a functioning CBDC, that I haven't heard much about, but I can say that the last time I was in the Bahamas, a few years ago, the tour guides were bragging about the Bahamas being a new safe haven for offshore deposits.

So it appears that CBDCs can be used to both, undermine the little guys and to protect the big guys.

originally posted by: TonyS
Fascinating. Sounds like you're the expert on this subject. Its good to have an expert on this subject.

I wouldn't say I'm an expert, but our company is critical into the development and roll out of the solution. One of my team members and myself are working with the Fed and my counterparts on the service side are the ones that handle the solutions. Additionally our CEO is on one of the Fed boards.

I am surprised it will take as long as a decade to roll this out.

It can't be slapdash, this will have to integrate entirely into the current banking, retail, payments and settlement sectors to name a few. It needs to operate seamlessly and with very high latency.

It also appears you are quite supportive of this change.

I just see the inevitability of it, the changeover cannot be stopped and if it's done well, which I think it will, it will help keep the dollar as the world's reserve currency.

But, as you rightly point out, it will mostly affect younger generations and they already embrace the idea that there is no such thing as privacy and they are programmed to be programmed by the controllers to be manipulated in terms of their transactions.......so it should be all good for them.

I really think it's much simpler than that, it's about revenue generation, there's hundreds of billions a year in unpaid taxes, that will be seriously cut back with a digital currency.

Oh nice. First they did away with gold-backed currency. Then they printed paper money with impunity, causing massive inflation. Now there won't even be paper money. I guess that was too cumbersome. Robbing the public blind of their money had to be made easier and quicker, with mouse clicks. Next there won't even be mouse clicks. The system will just automatically plunder. All those mouse clicks were costing the elite precious time on their mega yachts. How dare we make em stay one day a week to commit their treason. The nerve of people.

originally posted by: TrueAmerican
Now there won't even be paper money.

Only about 10% of the current dollars in circulation are minted/printed.

originally posted by: AugustusMasonicus

originally posted by: ancientlight
Off course they won't publicly state this, but they will add it in the long run.

Then how would you know? You have some sort of pipeline into the development process? Try reading the MIT paper before making further inane comments.

Agenda21/30 mission goals list. Social credit score is part of their plan

a reply to: AugustusMasonicus

I'm not sure what that means, AM?
Everything else is credit/online payments/direct deposit/checks?

originally posted by: ancientlight
Agenda21/30 mission goals list. Social credit score is part of their plan

None of that is in the development process. Maybe take some time and read the MIT paper, it helps to understand what this actually is and what it isn't.

originally posted by: DontTreadOnMe
I'm not sure what that means, AM?
Everything else is credit/online payments/direct deposit/checks?

Everything else is already just 1's and 0's on bank ledgers and the Federal Reserve balance sheet. There's roughly $40trillion in circulation, only about $1.5trillion of that is physical specie.

ETA: That's not counting derivatives, etc.

a reply to: AugustusMasonicus

Nonetheless, people like paper money.
Hell, lots of people don't even trust CHECKING accounts, going back decades.

Think how this will be accepted?
LMAO

I agree but I imagine I only know the basic reasons. Money and the movement of money worldwide drives everything

The next obvious question is why is important to keep the dollar as the world's currency?

Especially in our "it's small new world order after all".

or please refer me to the online Augustus Masonicus University of Finance library, I'd really like to read a lot more about this its an area Im woefully ignorant of, among others

You can tell this is right up your alley cause it's the first time Ive seen this much of your avatar

I just see the inevitability of it, the changeover cannot be stopped and if it's done well, which I think it will, it will help keep the dollar as the world's reserve currency.

edit on 23-3-2022 by putnam6 because: (no reason given)

originally posted by: DontTreadOnMe
Nonetheless, people like paper money.
Hell, lots of people don't even trust CHECKING accounts, going back decades.

Think how this will be accepted?
LMAO

By people who like paper money? Probably not at all. But those people have a shelf life, this isn't an overnight play. It will take 20 years+ to fully roll out.

I'll give you another example we're working on, Mobile Drivers License. Do you think you'd put your DL on your iPhone? No? Guess what? Arizona rolled it out and got 1/3 of the population signed up as it was mostly younger users. They will drive this, they don't like physical tokens, whether it's a DL or a $20bill. Tap to pay, tap to ID, tap, tap, tap. They will drive the change and then it will be ubiquitous.

originally posted by: putnam6
The next obvious question is why is important to keep the dollar as the world's currency?

If you're American I think that answer should be self evident. Unless of course you don't like your lifestyle.

originally posted by: DontTreadOnMe
a reply to: AugustusMasonicus

Nonetheless, people like paper money.
Hell, lots of people don't even trust CHECKING accounts, going back decades.

Think how this will be accepted?
LMAO

I was thinking the same thing, don't know how it is everywhere else, but in certain communities here and throughout the southeastern US, it's almost exclusively cash, you have long lines at places on Friday to cash checks and long lines at utility companies cause they are paying bills in cash. Not just a few either it's hundreds.

In certain cities towns and communities, not only urban but rural areas as well, deal predominantly with cash.

Add those millions who have always liked paper money, it definitely would need to be implemented slowly

originally posted by: AugustusMasonicus

originally posted by: putnam6
The next obvious question is why is important to keep the dollar as the world's currency?

If you're American I think that answer should be self-evident. Unless of course, you don't like your lifestyle.

I pretty much inferred I get the basic reason.



As for my preferred lifestyle Id rather be on the Tahitian beach drinking something tropical and doing the limbo with ladies in grass skirts. That isn't gonna happen regardless of the dollar is the yuan or the euro.

What's the meat and bones now?
On top of it's not very NWO or WEF is my point, doesn't it invalidate those theories somewhat?

How has it changed since even the '80s?

In other words, I just got some questions trying to learn here, certainly, there has got to be a source online you semi agree with you could list along with your always appreciated New Jersian wit and wisdom?

a reply to: AugustusMasonicus

It can't be slapdash, this will have to integrate entirely into the current banking, retail, payments and settlement sectors to name a few. It needs to operate seamlessly and with very high latency.

Ok, well, you just blew my mind. Now I get it. The sheer size and scope is mind boggling. It's bigger than going from magnetic strip to chip on the credit cards.

I honestly can't recall a "change" of this magnitude across that many platforms. My small town bank will NEVER be able to cope with this, LMAO.

a reply to: putnam6

No worries, I'll answer what I can.

originally posted by: TonyS
Ok, well, you just blew my mind. Now I get it. The sheer size and scope is mind boggling. It's bigger than going from magnetic strip to chip on the credit cards.

I honestly can't recall a "change" of this magnitude across that many platforms. My small town bank will NEVER be able to cope with this, LMAO.

That's a good example which we also work with, it's called EMVCo and it still, after 10 years, only has 60-70% adoption rate in the US even though it can vastly reduce fraud.

Like anything the government does, they sell it as ultra beneficial and promise any negatives have been guarded against. Give people a couple of years to adjust to the new system, then start tweaking it. Pretty soon it's nothing like the original proposal and there's no going back.

Hacking, malware, cyber attacks, grid failure are things that come to mind, in addition to already knowing how money/power-hungry politicians can take any new technology and turn it into greater control over the population.

a reply to: DontTreadOnMe

Hell, lots of people don't even trust CHECKING accounts, going back decades.

True, a majority of the people in the remote, rural village I live near have no bank accounts; they cash their government checks at the local bank, take the cash and walk across the street to buy money orders to pay their bills.

By the time this rolls out, they'll be dead and their druggie kids will be in jail......permanently.