Digital dollars will be “trackable.”

https://www.oftwominds.com/blogoct20/fed-tyranny10-20.html

The Federal Reserve has been busy during the manufactured chaos. Inching ever closer to the implementation phase is the Federal Reserve’s most recent invention, FedNow, a proposed program/system of instant payments and digital dollars.

“This paper from the Cleveland Fed describes the system: FedNow paper from clevelandfed.org (PDF) (via Cheryl A.)” – Charles Hugh Smith

The rationale for the system is two-fold: The Fed sees the current ACH (automatic clearing house) payment system used by banks as too slow and limited. Payments need to be instantaneous and there must be a way to reach unbanked households, the roughly 9 million U.S. households without a bank account. In the current system, stimulus payments couldn’t reach these households quickly.

The solution is a new payment system in which every household and business in the nation would have an account at FedNow, so the Fed can transfer funds directly and instantaneously into every household account (and presumably every business that the Fed has chosen to fund).

The second part of FedNow is the creation of a digital dollar which is just like the existing dollar with one tiny little difference: unlike cash (for example, a $20 bill), the digital dollars won’t be anonymous. Each newly created digital dollar will be trackable.” – Id.

How’s that for casting a wide net? Avoid the current (too slow) ACH payment system, and simultaneously force everyone into a trackable, digital dollar system that eliminates anonymity.

Everyone and everything (denominated in trackable dollars) loses anonymity — for you and me and everything in the natural world in one fell swoop. Evil genius! Many thanks to Charles for bringing us all the “good news.”

7 thoughts on “Digital dollars will be “trackable.”

  1. Yes, it’s from the goodness of their hearts that those darling little FED folks want to help, by reaching out to those poor disadvantaged people who are Unbanked. We’ll have to start calling the FED a philanthropy.

    Like the philanthropist Billy Gates, who for a modest return is willing to ‘donate’ his time and effort to spread health benefits worldwide via disease prevention, aka “vaccines”….take note of Bill’s ‘modest’ return on investment for this scheme (one answer to the question “why did Bill resign as chairman of microsoft?”), https://www.cnbc.com/video/2019/01/23/bill-gates-and-the-return-on-investment-in-vaccinations-davos.html.

    Start at the beginning of the video, we get the “economic benefits” within the first two minutes.

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    1. Bank shot in the corner pocket. Quick, everybody line up behind the eight ball.
      O. Matt I don’t understand your cynicism. Federal Reserve has been a philanthropic operation for over a hundred years. Of course, some small subset of anthropos have been favored over others, but still. How fortunate that technology will enable expansion of their outreach.

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      1. Thanks. I couldn’t have said it better myself. Oh wait, maybe I did.

        But yes, the FED’s philanthropic status is clear, if only based on recognition of some of those great philanthropists of the past who made it happen, like JD Rockefeller 3rd, Nelson Aldrich, JP Morgan, and some other kind and generous luminaries.

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  2. I hope the Bitcoin zealots feel good about their contribution to this next phase of absolute tyranny. “Crypto-currency is the answer to fight the central banks!” HAHA. What a joke. Crypto like Bitcoin has been a test run and a way to gain wide acceptance of the rollout of the future “official digital currency.” It won’t end with digital Fed dollars as they will merely be a bridge to the next level of an IMF/One-World currency.

    Liked by 1 person

  3. There’s a sign at the Post Office asking us to please pay using exact change or a credit card, as there is a national shortage of coinage. I’ve not noticed this shortage anywhere. I paid with cash at the PO yesterday, and the opened cash drawer was brimming with coins. Of course, they can create a coin shortage in the same manner as they did a toilet paper shortage, by simply stopping the supply chain.

    I’ve been tossing pennies for years. Guess I am doing my part.

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