Kiss your dollars good bye. The banks want to trade them for tokens....

So you don't see the dollar being replaced with a digital currency?

For settling nightly intra-bank deposit requirements or short term FED loans to banks? They could be replaced with digital tokens of dollars. This has little to no functional difference than wiring funds digitally through the existing Fed system, save that no one has to have actual $10,000 pieces of paper in a vault somewhere. Paper money the FED can print anyway....without having any non-Fiat currency to back it.

It will have zero impact on you or me, though. Its an administrative convenience for nightly intra-banking settlements.
 
Well, here is the option they gave our grandparents. If you are caught with gold you failed to produce, you will serve up to ten years in prison. If you have children, you will lose them. And your job along with your freedom, your house, your cars, and your tokens...
I prefer the smaller options with gold. And small bags of junk silver. But the only way to keep your wealth from being stolen is to shoot the armed government IRS agent at your door. If you bought your gold from a reputable firm, then the government already knows exactly what you have.
Utah tried to use gold as legal tender again and the feds shot that down immediately.

Whatever.


.
 
It would be established by the World Bank concerning countries and their holdings. You'll be able to exchange it for tokens at the going rate. You won't be able to use it as currency however, just like now.
I've read a little on this , China pushin for SDR's etc etc....
To my understanding (admittedly limited) it's all about the world consortium of bankers agreeing on a valuation benchmark

So, what replaces petrodollar here?

~S~
 
I've read a little on this , China pushin for SDR's etc etc....
To my understanding (admittedly limited) it's all about the world consortium of bankers agreeing on a valuation benchmark

So, what replaces petrodollar here?

~S~

Nothing. This isn't a proposal to do a thing with petro-dollars.

This is a minor adjustment to the digital settlement of nightly short term loans and deposit requirements between banks and the FED.

These settlements are already done digitally. This just eliminates the need for a vault somewhere with actual paper bills in order to conduct these digital transfers.
 
This is what it is:
The New York Innovation Center (under the Federal Reserve) is participating in a proof-of-concept project to explore the feasibility of a theoretical payments system which would facilitate wholesale digital asset transactions. This is a test run.
If you bank at a commercial bank. Check the chart to see where your bank is located in the grand scheme of things, and ask yourself, whose money will be digitally transferred and to where:
1668642667517.png


That is the network they are testing. Do your tokens ever end up anywhere near you? See that disconnect of arrows when it comes to you, the e-cash user and your money? Yeah. It's that. Your tokens are in the commerical bank then they leave there. A little back to you, more to the central bank, to the Fed Reserve Banking Corporation.
The DRS is run by the International Monetary Fund. We put money in, (just like we do the UN) and they decide who to give it to.
There will be no petrodollar. And very little petrol. One of the reasons for the experiment is to make it easier to transfer funds for oil to various countries who climate change will still allow to produce.
 
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This is what it is:
The New York Innovation Center is participating in a proof-of-concept project to explore the feasibility of a theoretical payments system which would facilitate wholesale digital asset transactions. This is a test run.
If you bank at a commercial bank. Check the chart to see where your bank is located in the grand scheme of things, and ask yourself, whose money is being digitally transferred and to where:
View attachment 726954

That is the network they are testing. Do your tokens end up anywhere near you?
The DRS is run by the International Monetary Fund. We put money in, (just like we do the UN) and they decide who to give it to. There will be no petrodollar. And very little petro. One of the reasons for the experiment is to make it easier to transfer funds for oil to various countries.

All the transfers are already digital. Every night, hundreds of millions if not billions of dollars are shifted digitally between commercial banks or between commercial banks and the FED to settle short term (almost always overnight) loans or meet minimum deposit requirements.

The only difference now is that rather than the Fed having to hold vaults with $10k bills (used exclusively for these type of settlements and not publicly available), the US dollars being transferred would be Fed backed US Dollar tokens.

All still digital. All still US Dollars. All still transferred via the exact same system to do the exact same thing. But without these $10k bills in a vault somewhere.

This is a non-story.

This has nothing to do with 'petro-dollars'. You'll still have all the cash you have the bank account to support. The only bills that would be effected are $10,000 bills.....that you're not allowed to have anyway.

And the tokens....are for US Dollars. Its just a way of moving money for intra-bank overnight loans.
 
All the transfers are already digital. Every night, hundreds of millions if not billions of dollars are shifted digitally between commercial banks or between commercial banks and the FED to settle short term (almost always overnight) loans or meet minimum deposit requirements.

The only difference now is that rather than the Fed having to hold vaults with $10k bills (used exclusively for these type of settlements and not publicly available), the US dollars being transferred would be Fed backed tokens.

All still digital. All still transferred via the exact same system to do the exact same thing. But without these $10k bills in a vault somewhere.

This is a non-story.

This has nothing to do with 'petro-dollars'. You'll still have all the cash you have the bank account to support. The only bills that would be effected are $10,000 bills.....that you're not allowed to have anyway.
No, you are confusing a computer system with digital currency. Oil is still backed by the dollar, not Bitcoin...
It hasn't happened yet. They are working on it:
The United States on Friday took a big step toward launching a central bank digital currency (CBDC). The Treasury Department recommended moving forward on development of a CBDC as part of the White House’s first-ever comprehensive framework on the responsible development of digital assets.

The framework follows US President Joe Biden’s March executive order in which he not only outlined the government’s approach to digital assets, but also asked several government agencies to jot up policy recommendations for the approach, tackling everything from the digital dollar to regulations on cryptocurrency.
 
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No, you are confusing a computer system with digital currency. Oil is still backed by the dollar, not Bitcoin...

Its the same system. The intra-bank funds transfer system used EVERY night to settle short term loans and deposit requirements is entirely digital. The only difference in this proposal is that rather than the FED holding US dollars in $10,000 paper bills in a vault, the FED will hold US dollars in a digital token instead.

Its all still dollars. The only difference is how it is stored. US Dollars in FED secured tokens instead of US dollars in FED secured $10,000 paper bills in vault.

And again, this is ONLY for nightly intrabank transfers and will no impact on you, your access to dollars, or our use of dollars as our currency.

This is a non-story. There's no 'there' there.
 
The story is they are preparing to get rid of cash, and move us onto a digital wallet, with tokens, not dollars, not representative of dollars, nothing to do with dollars, and your wallet will be tied directly to the Federal Reserve. Which is not Federal, and not a Reserve, but a Corporation run by an elite group of people and businesses. With the power to deduct. If they do this you'll never see your money, they'll just tell you what's left. And they are testing it out at a bank near you.
 
Which is not Federal, and not a Reserve, but a Corporation run by an elite group of people and businesses
which has been the problem for over a century

but there's a bigger consideration, the global fiat

every fiat in human history eventually fails, and while the reasons could well be a grand debate, each and every one of them started out with a valuation based on something in the physical universe

How that now happens in the digital world is beyond me.....

~S~
 
The story is they are preparing to get rid of cash, and move us onto a digital wallet, with tokens, not dollars, not representative of dollars, nothing to do with dollars, and your wallet will be tied directly to the Federal Reserve. Which is not Federal, and not a Reserve, but a Corporation run by an elite group of people and businesses. With the power to deduct. If they do this you'll never see your money, they'll just tell you what's left. And they are testing it out at a bank near you.

No, they're not. They're getting rid of holding physical $10,000 bills in a vault. The system of transfering the money for these nightly intra-bank loans is already entirely digital. It has been for a very long time.

The dollar is what is stored in the tokens.....rather than the same dollars being stored in paper $10,000 bills. Its the same dollars serving the same purpose (settling intra-bank short term loans or deposit requirements) with a slightly different container.

Its all dollars. And it has zero impact on the cash in your wallet, the dollar as our currency, the petro-dollar, or any other claims that have been made in this thread.

Its a minor adjustment for the storage of dollars used for intra-bank settlements.Anything you want to project beyond that is your speculation, backed by nothing
 
which has been the problem for over a century

but there's a bigger consideration, the global fiat

every fiat in human history eventually fails, and while the reasons could well be a grand debate, each and every one of them started out with a valuation based on something in the physical universe

How that now happens in the digital world is beyond me.....

~S~

If this is just going to be another 'the fed/fiat currency is bad' conversation, then why bother with this thread about tokens?
 
Nothing but thin air backs up Crypto!!
FTX bankruptcy has just proven this.

This isn't crypto. This is US Dollars.

Which is backed by the full faith and credit of the United States.

Bitcoin can't tax people's income. Or levy excises and tariffs on goods coming into or going out of the country. The United States can.
 
No, they're not. They're getting rid of holding physical $10,000 bills in a vault. The system of transfering the money for these nightly intra-bank loans is already entirely digital. It has been for a very long time.

The dollar is what is stored in the tokens.....rather than the same dollars being stored in paper $10,000 bills. Its the same dollars serving the same purpose (settling intra-bank short term loans or deposit requirements) with a slightly different container.

Its all dollars. And it has zero impact on the cash in your wallet, the dollar as our currency, the petro-dollar, or any other claims that have been made in this thread.

Its a minor adjustment for the storage of dollars used for intra-bank settlements.Anything you want to project beyond that is your speculation, backed by nothing
Is Bitcoin a dollar or is it a bitcoin?
These are dollars being stored in the tokens. Dollars are backed, as they have been for generations, by the full faith and credit of the United States.
The dollar isn't worth the ink used to print it. Dollars used to represent gold. Now they are backed by nothing more than promises from the Federal Reserve, not the United States.
Soon, crypto will be the only thing in your "virtual wallet". Also backed by nothing but faith in the Federal Reserve...

ANCHORAGE DIGITAL BANK​

Inventing solutions for the future of capital.

Our vision is to be the foundation upon which value moves safely in the new global economy.

^ It's really not about safety. It is about controlling and regulating your tokens. There will be no dollars in the future new global economy. We are phasing the inflated and debt ridden dollar out and bringing crypto to a neighborhood near you.
A little foresight would help your understanding of where we are headed...
 

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