And So It Begins...

[RhodyPatriot]

The first tentative step toward an all-seeing, centrally controlled digital dollar.

Fed launches new payments system that lets you send money in seconds

FedNow lets consumers and businesses pay for everything from groceries to suppliers instantly.

finance.yahoo.com

It's a slippery slope.

 

[White 6]

The first tentative step toward an all-seeing, centrally controlled digital dollar.

Fed launches new payments system that lets you send money in seconds

FedNow lets consumers and businesses pay for everything from groceries to suppliers instantly.

finance.yahoo.com

It's a slipper slope.

Kind of makes me miss Silver Certificates as more than just collectors items.

 

[Concerned American]

The first tentative step toward an all-seeing, centrally controlled digital dollar.

Fed launches new payments system that lets you send money in seconds

FedNow lets consumers and businesses pay for everything from groceries to suppliers instantly.

finance.yahoo.com

It's a slippery slope.

Walmart and Costco have been using this type of system for years. I thought the Fed was using it between banks as well. I guess not.

 

[Meister]

Kind of makes me miss Silver Certificates as more than just collectors items.

I miss the Morgan Dollars

 

[Harpy Eagle]

The first tentative step toward an all-seeing, centrally controlled digital dollar.

Fed launches new payments system that lets you send money in seconds

FedNow lets consumers and businesses pay for everything from groceries to suppliers instantly.

finance.yahoo.com

It's a slippery slope.

 

[Harpy Eagle]

The first tentative step toward an all-seeing, centrally controlled digital dollar.

Fed launches new payments system that lets you send money in seconds

FedNow lets consumers and businesses pay for everything from groceries to suppliers instantly.

finance.yahoo.com

It's a slippery slope.

How dare they make things easier and cheaper for the consumer.

 

[RhodyPatriot]

How dare they make things easier and cheaper for the consumer.

Sorry, no wrestling with the pig today.

 

[Meister]

How dare they make things easier and cheaper for the consumer.

Perhaps...but at a privacy cost IMO.
The wheels are turning.

 

[Blaster]

How dare they make things easier and cheaper for the consumer.

Why would this be a problem?

 

[Harpy Eagle]

Perhaps...but at a privacy cost IMO.
The wheels are turning.

Do they not already know what money we spend anytime we use a debit/credit/app?

People have no trouble giving all that information to a private company like Venmo or Cash App.

Plus, it is all voluntary.

 

[Meister]

Do they not already know what money we spend anytime we use a debit/credit/app?

People have no trouble giving all that information to a private company like Venmo or Cash App.

Plus, it is all voluntary.

Not arguing that, but eventually there will be no money to cubbyhole away.
Nothing happens over night, it's a slow process that keeps creeping until
it gets the desired results. There are a lot of issues that are slow creeping
from our government like that. But a story for another day

 

[RhodyPatriot]

Plus, it is all voluntary.

For now.

 

[RhodyPatriot]

Not arguing that, but eventually there will be no money to cubbyhole away.
Nothing happens over night, it's a slow process that keeps creeping until
it gets the desired results. There are a lot of issues that are slow creeping
from our government like that. But a story for another day

Good thing none of this would perfectly comport with vaccine passports and social credit creep.

None of which is already occurring in China and even Europe.

No Siree, nothing to see here.

 

[Harpy Eagle]

Not arguing that, but eventually there will be no money to cubbyhole away.
Nothing happens over night, it's a slow process that keeps creeping until
it gets the desired results. There are a lot of issues that are slow creeping
from our government like that. But a story for another day

Cash will still be necessary for a few reasons.

Many countries take nothing but cash, where we are planning to retire is almost totally a cash society.

 

[Meister]

Cash will still be necessary for a few reasons.

Many countries take nothing but cash, where we are planning to retire is almost totally a cash society.

I hope you're right, but who knows what's in the future with this?

 

[boedicca]

The first tentative step toward an all-seeing, centrally controlled digital dollar.

Fed launches new payments system that lets you send money in seconds

FedNow lets consumers and businesses pay for everything from groceries to suppliers instantly.

finance.yahoo.com

It's a slippery slope.

It's just a glorified ACH system - it is not digital currency. The BRICS have announced a competing system; the Fed is trying to preserve the dollar by making transfers less expensive.

I'm against CBDC, but the FedNow is not CBDC.

 

[Blaster]

Buy Gold and Silver.

 

[RhodyPatriot]

FedNow is not CBDC.

Nor did I claim it was.

"First tentative step" could still be true however.

If CBDC is ever fully realized, having this transaction system in place - under control of the Federal Govt no less - will be quite convenient, no?

The impression I am getting is they hope to supplant any/all private systems entirely.

 

[boedicca]

Nor did I claim it was.

"First tentative step" could still be true however.

If CBDC is ever fully realized, having this transaction system in place - under control of the Federal Govt no less - will be quite convenient, no?

The impression I am getting is they hope to supplant any/all private systems entirely.

By your logic, there should be no electronic payment or transfer systems at all.

 

[RhodyPatriot]

By your logic, there should be no electronic payment or transfer systems at all.

False.

There is a competitive private market that already exists.

My position is we shouldn't let the Government monopolize/weaponize it.

And if the last three years doesn't serve as an ample warning of that, I don't know what will.