CHAT FedNow
- Thread starter etdeb
- Start date
West
Senior
Vary good interview and caution because she advocates for real coin (gold).
View: https://m.youtube.com/watch?time_continue=2598&v=PZyc13m_ymU&embeds_euri=https%3A%2F%2Fwww.kitco.com%2F&source_ve_path=MjM4NTE&feature=emb_title
About a hour.
About a hour.
desertvet2
Veteran Member
An associate was telling me of his encounter at his bank the other day.
Said that he asked if the bank was shifting over to fednow soon.
Was given a strange look that he took as...how do you know?
Then he asked if cash was still available/ going to continue to be available, as he pays bills and shops with cash.
The bankers reply....
Yes,
For now.
Take that as you will.
Said that he asked if the bank was shifting over to fednow soon.
Was given a strange look that he took as...how do you know?
Then he asked if cash was still available/ going to continue to be available, as he pays bills and shops with cash.
The bankers reply....
Yes,
For now.
Take that as you will.
West
Senior
When the banks do stop cashing out cash to their customers and all retailers only take electronic digits...
It's going to be epic.
Yesterday our local Tractor Supply was ONLY taking cash because their internet or alike was down.
Asked the cashier if we get a cash discount, Nope!
Just the few minutes I was there seen several people drive up and then leave, when they read the sign on the door, "Cash Only!"
It's going to be epic.
Yesterday our local Tractor Supply was ONLY taking cash because their internet or alike was down.
Asked the cashier if we get a cash discount, Nope!
Just the few minutes I was there seen several people drive up and then leave, when they read the sign on the door, "Cash Only!"
WildDaisy
God has a plan, Trust it!
Suddenly, the Mark of the Beast and not being able to buy or sell without a mark seems more and more plausible in the near future.
Christian? No soup for you!
Conservative? No soup for you!
Get ready! If you haven't yet, start working out your networks for getting what you need now. The supplies you have wont last you forever and I'm sure at some point there will be something you will need that you do not have in your preps. Start looking at your circles. Find your alternative comms and ways to get your news and information. Guard your mouth and guard your connections. Start to alienate those who would turn you in. Start working on relationships on those who would be an ally.
Christian? No soup for you!
Conservative? No soup for you!
Get ready! If you haven't yet, start working out your networks for getting what you need now. The supplies you have wont last you forever and I'm sure at some point there will be something you will need that you do not have in your preps. Start looking at your circles. Find your alternative comms and ways to get your news and information. Guard your mouth and guard your connections. Start to alienate those who would turn you in. Start working on relationships on those who would be an ally.
LostMyMind
Contributing Member
I'm struggling to understand how many transactions will be handled along the Southern border, well...Texas at least. I know many many restaurants, stores, etc. that don't take cards. Cash ONLY.
I've been trying to get a close friend of mine that's well engrained in the business community on N Padre Island, just over the bridge from Corpus Cristi to accept the fact that sooner or later cash will be a no-go. He pays a good portion of his crews in cash.
It's going to seriously disrupt those areas, but I suppose that's repercussions of TPTB's ultimate goal. Complete control.
I've been trying to get a close friend of mine that's well engrained in the business community on N Padre Island, just over the bridge from Corpus Cristi to accept the fact that sooner or later cash will be a no-go. He pays a good portion of his crews in cash.
It's going to seriously disrupt those areas, but I suppose that's repercussions of TPTB's ultimate goal. Complete control.
Knoxville's Joker
Has No Life - Lives on TB
Actually as much as they want to get rid of physical currency, the harder they push, the more of a black market they create. He who controls most controls least, he who controls least controls most. There will have to be a means to have currency independent of CBDC. There is no way around that. Especially once they have a nasty solar flare or targeted EMP that takes out core servers.
Great Northwet
Veteran Member
.
desertvet2
Veteran Member
.... Especially once they have a nasty solar flare or targeted EMP that takes out core servers.
Money shot.
But...what are all the towers for?
What if the server hubs are in dumbs, connected to the aquifer for cooling and security?
What if it is space based?
What if the aliens the gvts work with are almost done with the set up...for fried chicken on a planetary scale, but the humans in charge are too stupid to catch on?
Sci fi ?
Weird thoughts from a weirdo?
Or...
Is the truth...out there.
Money shot.
But...what are all the towers for?
What if the server hubs are in dumbs, connected to the aquifer for cooling and security?
What if it is space based?
What if the aliens the gvts work with are almost done with the set up...for fried chicken on a planetary scale, but the humans in charge are too stupid to catch on?
Sci fi ?
Weird thoughts from a weirdo?
Or...
Is the truth...out there.
nomifyle
TB Fanatic
yep, those servers will certainly crash, hackers will see to it.
FedNow is NOT a CBDC in any shape, form or fashion.
FedNow is simply another way to MOVE the existing digital currency, fiat FRNs in a bank account electronically from point A to point B faster and cheaper than current tools.
FedNow does NOT setup a new currency, which by definition, is one of the major characteristics of a CBDC. It does NOT create a new store of value or a new unit of account. It simply moves the current USD from point A to point B faster and cheaper than current competing methods.
So it will replace the Fed wires or ACH payments ?
Most likely, yes, over probably a long period of time. Each financial institution must individually sign-up for FedNow and “onboard” to it then validate that it is working.
What will be interesting to watch is how quickly (or not) it grows in terms of adoption and utilization.
Countrymouse
Country exile in the city
Then Kris--I guess this BANKER above doesn't know what he's talking about?
I personally would rather believe man-on-the-street people like these bankers who are involved, than ANYTHING coming out of the WEF OR out of Biden's 'government.'
And who said "Digital" currency has to be or is a "new" currency?
Isn't it just good old American dollars--like we've ALWAYS had--but now available only in digital form?
(and most transactions now ARE digital, anyway. The only diff is that once this is fully implemented--CASH will be GONE.)
This thread is about FedNow.
People who don’t know what they are talking about (or are YouTubing about) are conflating FedNow and Central Bank Digital Currency. They are two distinctly different things.
Most banks and bankers are currently NOT involved. There is a very limited subset of banks involved in the FedNow initial rollout.
There is no requirement to use the FedNow system. It is just one more way to move fiat FRNs from point A to point B.
Yes, our fiat FRNs are mostly digital today. There are currently standard ways that those digits are moved, cleared and settled. FedNow speeds up those processes and offers them 24x7x365. Today, those money movement processes do not happen on weekends and holidays. That is one aspect that makes FedNow unique. If you need or want your transfer to complete in seconds any time or day then FedNow will be the only game in town that can make that happen.
CBDC will be a whole different form of fiat depending on how and if it is implemented.
People who don’t know what they are talking about (or are YouTubing about) are conflating FedNow and Central Bank Digital Currency. They are two distinctly different things.
Most banks and bankers are currently NOT involved. There is a very limited subset of banks involved in the FedNow initial rollout.
There is no requirement to use the FedNow system. It is just one more way to move fiat FRNs from point A to point B.
Yes, our fiat FRNs are mostly digital today. There are currently standard ways that those digits are moved, cleared and settled. FedNow speeds up those processes and offers them 24x7x365. Today, those money movement processes do not happen on weekends and holidays. That is one aspect that makes FedNow unique. If you need or want your transfer to complete in seconds any time or day then FedNow will be the only game in town that can make that happen.
CBDC will be a whole different form of fiat depending on how and if it is implemented.
night driver
ESFP adrift in INTJ sea
CM, given what Kris is doing for a living, and for WHOM, it IS possible (or rather LIKELY) that the Banker has NO EARTHLY CLUE what HE is discussing, whereas Kris DOES.
And since ND mentioned it, I have to disclose that I am not speaking on behalf of my employer but only from my personal experience in the industry and publicly available information.