Hello
John and Doves,
This
does not bode well for us...
Not
that many people are aware..yet....of the FedNow Federal
Reserve "alternative" to digital currency.
This
new banking system will be launched in July.
"FedNow,
as it will be known, will create "a leading-edge payments
system that is resilient, adaptive, and accessible,...The
system will allow bill payments, money transfers such as
paycheck and disbursements from the government, as well as a
host of other consumer activities to move more rapidly and
at lower cost, according to the program's goals."
"Participants
will complete a training and certification process in early
April...."With the launch drawing hear, we urge financial
institutions and their industry partners to move full steam
ahead with preparations to join the FedNow Service...."
Wow!
As I wrote, this is their alternative to the digital
currency.
This
is what we've been dreading....their control of our money -
where we spend it, how much we spend, etc.
The Federal Reserve could then
easily control what we spend for food - and the price of
the food.
"And
I heard something like a voice in the midst of the four
living creatures saying, "A quart of wheat for a
denarius (a day's wages) and three quarts of barley for
a denarius;" Rev 6:6
Back
in May 2022, Credit Unions and banking trade groups sent a
letter to the chain and ranking member (that would be Maxine
Waters - we know her history with Sam Bankman-Fried and
FTX!!) of the House Financial Services Committee, "warning
of "devastating consequences" if the Federal Reserve moves
forward with a Central Bank Digital Currency. I
sincerely doubt this letter changed anyone's view on the
coming FedNow banking system.
In
their letter they point out that the "dollar functions
primarily in digital form today". They argue that this
new system would decrease the availability of credit and
increase the cost of credit. They see no advantage in
switching to a new monetary system, in fact, they wrote,
"The purported benefits of a CBDC are uncertain and unlikely
to be realized, while the costs are real and acute.
For these reasons, we do not see a compelling case for a
CBDC in the United States today." They went on, "..a
CBDC does not appear to support the role of the U.S. dollar
internationally." They note that this "requires moving
funds from banks to the Federal Reserve." "Losing this
critical funding source would undermine the economics of the
banking business model, severely restricting credit
availability increasing the cost of credit, and causing a
slowdown of the economy." They also believe there has
to be Congressional legislation to do this - that the
Federal Reserve can't just set up their own money system.
Joint
Trades Hill Letter on CBDC.pdf
The
Federal Reserve is moving along with this without any
Congressional legislation!
The
Credit Unions and banking trade groups refute all the claims
by the FedNow supporters.
Vanderbilt
Law Review published a 69-page paper that proposed a
"radical restructuring of the Fed that would include the
following:
The-Peoples-Ledger-1.pdf
1)
Move all commercial bank deposits from commercial banks to
so-called FedAccounts at the Federal Reserve.
2)
All the Fed, in "extreme and rare circumstances, when the
Fed is unable to control inflation by raising interest
rates" to confiscate deposits from these
FedAccounts in order to tighten monetary policy.
4)
Eliminate the Federal Deposit Insurance Corporation
(FDIC) that insures bank deposits in the U.S. and
that prevents panic runs on banks.
The
current OCC First Deputy Comptroller is Michael J Hsu - he
was appointed by Janet Yellen - Secretary of the Treasury
and BIG Great Reset/WEF member. Hsu was a staff
attorney in the Federal Reserve Board's Legal Division, so
he fits right in with the Fed's agenda.
We can see where this is
going - total control of our money. What we spend
it on. How much we spend. And the government
will control whether we have access to our money or
not. We know the censoring this government is
capable of.
Looks like our government is
letting the Federal Reserve do whatever they want. I'm
sure it's all in line with the One World government the
Biden administration is in align with.
Will this FedNow actually
happen? Or will WW3 preempt all of this? Will
the loaf of bread for a daily wage be due to some take over
of the world's monetary system or will it be due to the
coming famine prophesied in The Revelation? Or some
combination of control/famine?
THEY will really push this over the
next few weeks to get banks and credit unions signed
up. And maybe we'll see TV ads for the public.
Certainly not something I'm signing
up for.
Pray for the peace of Jerusalem!
Maranatha!
Chance