Hello John and Doves,
We are moving closer and closer to
a digital dollar money system. Where they will be able
to control what we buy and sell. They will see every
purchase. And Biden's new IRS agents will be watching.
The Federal Reserve's FedNow
service will provide instant access, 24/7 to your money -
that's a big selling point to the public. Instant
payments 'within seconds', instant money transfers - in real
time...all on line. This is the Federal Reserve's
alternative to the digital dollar. And it's coming
soon - to be released in 'phases' in 2023.
"The Federal Reserve said
Wednesday it will launch its long-awaited instant payment
service FedNow in July. The instant payment
network will settle payments in seconds, with the capability
to support consumer-to-consumer, consumer-to merchant,
merchant-to-merchant, and bank-to-bank transactions."
This is to "better support nearly every aspect of our
economy."
"According to the Fed, a mix of
banks of all sizes, including the largest processors and the
U.S. Treasury, are on board. The central bank is
continuing to speak with financial institutions and service
providers to test the program ahead of its implementation."
"With the launch drawing near, we
urge financial institutions and their industry partners to
move full steam ahead with preparations to join the FedNow
Service...Starting in the first week of April, the Fed will
begin certifying banks to launch the service. Early
adopters will have to conduct customer testing, informed by
feedback from the FedNow Pilot Program, to prepare for
sending live transactions through the system."
This sets up FedAccounts vs
ordinary bank accounts. The Central Bank IS the
Federal Reserve.
Yep
- there it is - "digital currency" and "central
bank". We knew this was coming. The Federal
Reserve, as we've been told, is neither 'federal', nor a
'reserve'.
It's run by a handful of very
rich, powerful people. And butting into our already set
up payment system should not be allowed. I, for one,
don't need 'instant' payments or deposits or transactions;
especially when I know the Fed has never had my or my
country's best interests in mind. I see this as just
more unwanted control over my banking transactions.
And how easy would this be to flip over to the Central
Bank's digital currency, CBDC??
The Federal Reserve should not be
involved in our actual 'banking' - we have banks for
that. We don't need this entity stepping in and
taking control of our banking.
Initially very rich/powerful men
met in secret at Jekyll Island in 1910 and came up with a
plan to reform America's banking system. The Federal
Reserve got Congress to pass and President Woodrow Wilson to
sign the Federal Reserve Act of 1913. This gave the
Federal Reserve power over the money supply and thus the
economy. The U.S. government has no control over the
Federal Reserve. The Fed governors are not
elected by the people.
How
the Federal Reserve Was Formed
So how does this FedNow compare to
the 'digital dollar' we've been hearing about?
"The Federal Reserve opted to develop FedNow as an
ALTERNATIVE TO A DIGITAL DOLLAR or dollar-backed
stablecoin."
"In June, the Federal Reserve and
certified participants will conduct production validation
activities to confirm readiness for the July launch.....More
features and enhancements will be added in future releases
to continue supporting safety, resiliency and innovation in
the industry as the FedNow network expands in the coming
years."
Federal
Reserve Board - Federal Reserve announces July launch for
the FedNow Service
This site has a list of 110
organizations that have announced participation in the
FedNow Pilot Program, January 25, 2021 - I am seeing Capitol
One Financial, Citi, BNY Mellon, Goldman Sachs, JP Morgan
Chase, Silicon Valley Bank (that just failed), U.S. Bank,
Wells Fargo...and a whole bunch of small regional banks, and
credit unions.
Announcing
the FedNow Pilot Program participants
Probably most banks/credit unions
will feel like they have to sign up for this. Or be
left behind. Here's a website for credit unions - the
questions asked/with answers are a real eye-opener - here
are a few things I saw: Transaction limits can be set
up by the institutions, there will be a way to put a
consumer on a "negative list" (or blacklist) (I can see that
being abused), transactions are irrevocable since they are
instantaneous (that may not be good), there will be costs
for the financial institutions to be part of this; also
banks/credit unions may charge consumer members for using
their FedNow account - plus so much more. Worth taking
a look at this -
Q
& A - What Credit Unions Should Know About FedNow
031423
First week of April is right
around the corner. June will be a check up on
'confirming readiness to launch'. The launch of FedNow
is scheduled for July. This will bring about
FedAccounts and they'll see all of your transactions.
Not much of a stretch to think that they'll soon be not just
watching, but monitoring our purchases. A friend of
mine thinks that those tens of thousands of new IRS agents
will be watching what we purchase...and following up with
us.
FedNow is the Federal
Reserve's 'alternative' to the digital dollar.
This is what many of us having
been watching closely. I was hoping for a bit of a
reprieve for a couple of years....but July is just a few
months away!
Pray for the peace of Jerusalem!
Maranatha!
Chance