FedNow: A Trojan Horse for CBDCs Paving the Way for Loss of Privacy and Crypto Crackdown

The ???????? Fed just announced it will introduce its “FedNow” (https://www.forbes.com/sites/tomgroenfeldt/2023/04/04/real-time-fednow-expected-to-boost-instant-payments) instant payment service in July, which is de facto a Central Bank Digital Currency (CBDC) in disguise (https://www.valuewalk.com/the-implications-of-fednow-and-the-eventual-transition-to-cbdcs/). CBDCs grease the slippery slope to financial slavery and political tyranny.

While cash transactions are anonymous, a CBDC will allow the government to surveil all our private financial affairs. The central bank will have the power to enforce dollar limits on our transactions restricting where you can send money, where you can spend it, and when money expires. They will try to ban any alternatives of CBDCs once they are rolled out making an escape almost impossible, Nigeria is a field experiment of this (https://www.ledgerinsights.com/nigeria-enaira-cbdc-transactions-surge/).

A CBDC tied to digital ID and social credit score will allow the government to freeze your assets or limit your spending to approved vendors if you fail to comply with arbitrary diktats, i.e. regarding compliance with certain political agendas.

The Fed will initially limit its CBDC to interbank transactions but we should not be blind to the obvious danger that this is the first step in banning and seizing Bitcoin/crypto as the Treasury did with Gold 90 years ago today in 1933.

Watch as governments, which never let a good crisis go to waste, use Covid-19 and the banking crisis to usher in a new wave of CBDCs as a safe haven from germ-laden paper currencies or as protection against bank runs.

We need to buckle up and fight for our rights or will end up as slaves to the government!