Anonymous ID: ce1b4c March 29, 2023, 6:55 a.m. No.18600901   🗄️.is 🔗kun   >>0905 >>0943 >>1012 >>1259 >>1418

https://www.kitco.com/news/2023-03-21/FedNow-rolls-out-in-July-paving-way-for-totalitarian-power-and-central-bank-digital-currencies-Richard-Werner.html

 

FedNow rolls out in July, paving way for ‘totalitarian power' and central bank digital currencies - Richard Werner

 

The Federal Reserve’s FedNow instant payments system is rolling out in July, allowing retail banking clients to send bank transfers quickly, securely, and with minimum transaction fees using central bank funds. Richard Werner, Professor of Banking & Finance, and Author of Princes of the Yen, called the timing of FedNow’s rollout “suspicious.”

 

“The timing is suspicious,” Werner told Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News. “Why do they roll this out now? The banking system has done its job well, in terms of making transfers of funds and payments, so why do we suddenly need to change it?”

 

Werner, who has three decades of experience in banking and finance, including senior roles at Bear Stearns and Jardine Flemings, pointed to the recent failures of banks like Silicon Valley Bank and Signature as a potential reason for FedNow’s implementation. He suggested that central bankers would out-compete commercial banks through products like FedNow, in an effort to dilute competition in the banking sector, bringing about “totalitarian control.”

 

Werner pointed in particular to central bank digital currencies (CBDCs), digital tokens issued and controlled by central banks, and which operate as fiat money. Analysts have highlighted the fact that CBDCs could replace commercial bank deposits.

 

Werner compared the central bank to an umpire policing a soccer game, who then decides to change the rules so that he can score goals himself.

 

“Obviously the umpire will score and win games,” he observed. “That’s what happens when central banks issue CBDCs. Why? Because a central bank digital currency is an account at the central bank.”

 

A recent slew of bank failures saw Silvergate, Silicon Valley Bank, and Signature Bank’s depositors bailed out by the government and Federal Reserve. Werner suggested that this ongoing banking crisis could be used to bring about CBDCs.

 

“We can’t really trust them [central bankers] anymore to take the benevolent policies that are good for society and which create stability,” Werner claimed. “Maybe there’s a different agenda. Maybe it’s all about rolling out their Central Bank Digital Currency.”

 

To find out why Werner thinks central banks want to out-compete commercial banks to create a Soviet Union style central-planning system, watch the video above

 

Central Bank Digital Currencies

 

The Atlantic Council reports that 114 countries are developing CBDCs, and 11, including Nigeria and the Bahamas, have fully realized them.

 

Werner warned that CBDCs could bring about “totalitarian power” structures, due to the ability of central banks and governments to track, trace, and limit financial transactions through CBDCs’ programmability.

 

“Once you put your money in the central bank, and the central bank issues your CBDC, legally they own the money,” he said. “You have a claim, but sadly this claim is subject to a number of conditions… So, maybe they will let you spend if you’re in the right place and you’re buying the right things, and you haven’t used up your carbon credits, or whatever scheme they want to enforce.”

 

Cash, and other alternatives to CBDCs, would gradually be eliminated, Werner claimed, since non-CBDC forms of money would lack the programmability required for a “totalitarian control system” to manifest.

 

“The precondition for this to be so totalitarian… is to eliminate alternatives,” he said. “They don’t want these alternatives, so they can just take your money. This is just the beginning, because the real totalitarian aspect comes into it when the programmability can be used, where it can be totally fine-tuned down to the person, and in real-time influence our behavior by restricting us from doing certain things… you’ll need the permission of the central planners.”

 

To find out whether Werner thinks that the CBDCs can still be stopped in the U.S.A watch the video above

 

Follow Michelle Makori on Twitter: @MichelleMakori

 

Follow Kitco News on Twitter: @KitcoNewsNOW

Anonymous ID: ce1b4c March 29, 2023, 7 a.m. No.18600943   🗄️.is 🔗kun

>>18600901

https://www.forbes.com/sites/norbertmichel/2022/12/15/the-federal-reserve-should-drop-fednow-and-any-plans-to-launch-a-cbdc/?sh=6ef5bd6cfd7f

 

https://www.americanbar.org/groups/business_law/publications/committee_newsletters/consumer/2019/201911/fednow/

Anonymous ID: ce1b4c March 29, 2023, 7:08 a.m. No.18601012   🗄️.is 🔗kun

>>18600901

If you think about this FedNow system it allows a central bank to analyze every transaction in it's system.

 

Add in the new S.686 bill - Restrict Act meant to ban TikTok. The both of these things together give the Govt a pretty powerful window into what you are doing. This is just me spitballing here but I can't shake this heavy feeling in my gut. Are we there? Is this the endgame?

 

https://www.congress.gov/bill/118th-congress/senate-bill/686/text?s=1&r=25

 

https://theconservativetreehouse.com/blog/2023/03/27/tucker-carlson-warns-about-senate-bill-686-the-restrict-act-framed-around-tiktok-but-focused-on-domestic-online-censorship/

Tucker Carlson Warns About Senate Bill 686, The Restrict Act, Framed Around TikTok But Focused on Domestic Online Censorship

 

Fox News Host Tucker Carlson did everyone a favor today by sending the warning about The Restrict Act, also known as Senate Bill 686 [SB686 HERE], also known as the bipartisan bill to empower the executive branch to shut down TikTok.

 

https://www.change.org/p/ban-s-686-restrict-act

The Restrict Act seeks to take away Section 230, this section regulates what can be put or said on the internet. Section 230 is our right to Free Speech and Right to Privacy on the internet. If the Restrict Act gets passed, anything we say and do will be heavily monitored. Violation of this act will result in; a fine of 250,000 or 1,000,000 dollars, or 20 years in prison and they will have the right to seize the technology that we use daily. Save Section 230 and help put a stop to the Restrict Act.

Anonymous ID: ce1b4c March 29, 2023, 7:53 a.m. No.18601302   🗄️.is 🔗kun   >>1418

>>18601296

POLICE CLEARING SEVERAL BUILDING AS A PERCAUTION, BUT BELIEVE INCIDENT IS A HOAX - NO ACTIVE SHOOTER OR VICTIMS FOUND.

https://twitter.com/ACNewsAlerts1/status/1641090320543674368