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Digital Currency is Coming to a Country Near All of Us
A Hitchhiker’s View of the Digital Currency Threat The inevitability of a centralized, digital monetary system was all but made certain when Bitcoin and other cryptocurrencies came into being. What seemed like innovation to rescue us from the poorly managed policies and control mechanisms our current monetary systems/governments are infamous for, has put us all…
Read MoreReserve Bank of India to run digital currency trial
The Reserve Bank of India is looking at running a trial of a central bank digital currency. It is consulting with state-controlled banks and fintechs such as FIS on the project, according to a report by Coin Telegraph. “FIS has had various engagements with the RBI […] and, of course, our connected ecosystem could be extended to…
Read MoreFEDERAL RESERVE Powell warns of ‘some pain’ ahead as the Fed fights to bring down inflation
KEY POINTS Fed Chairman Jerome Powell on Friday pledged that the central bank will “use our tools forcefully” to attack inflation that is still running near its highest level in more than 40 years. In his annual Jackson Hole, Wyoming, policy speech, Powell added that higher interest rates likely will persist “for some time. The…
Read MoreFed Governor Touts FedNow as Alternative to CBDC
The Fed’s upcoming payment service fulfills many of the same purposes as a CDBC. Key Takeaways Governor Michelle Bowman said today that the Federal Reserve’s FedNow service could be ready by mid-2023. She suggested that the payments service addresses the need for a central bank digital currency (CDBC). She also said that the Federal Reserve…
Read MoreNews Bites There is ‘no limit’ to tyranny under CBDCs; Western democracy is a ‘façade’ – Zuby
According to the Atlantic Council’s CBDC Tracker, 105 countries are exploring adoption of a ‘Central Bank Digital Currency’ (CBDC), a digital money that a central bank would control. The United States, for example, is considering a ‘FedCoin’ CBDC. Author, rapper, and public speaker Zuby is against the idea. “This is a very dangerous technology,” he…
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