Posted on 05/24/2021 7:22:22 AM PDT by PPSman
I reported over the weekend an unusual video surrounding digital currencies that Federal Reserve chairman Jay Powell made last week: Federal Reserve Board Chairman Powell in Unprecedented Video Issues Commentary on Digital Currencies.
Now we have Federal Reserve Board Governor Lael Brainard following up this morning with a speech on digital currencies via webcast at the Consensus by CoinDesk 2021 Conference, Washington, D.C. that even includes reference to an MIT-Federal Reserve test of a central bank digital currency.
This morning she told the group:
(Excerpt) Read more at economicpolicyjournal.com ...
There is NO intrinsic value.
I, for one, am all-in. Because I would love to be involved with something that is created by the Fed, tracked by Fed, and easily-cancelled by the Fed.
Very rarely do our overlords ban things that are threatening them. Far more often they take over them and use them as a new source of control.
We’ve seen that pattern with the Internet and I fear crypto will go the same way.
But in that argument, there is no intrinsic value of the dollar bills in your pocket. It is only our faith in the value that gives them value.
Amen! Imagine the Fed having Joseph’s power to make sure nobody did anything in Egypt unless he agreed to it?
“I, for one, am all-in. Because I would love to be involved with something that is created by the Fed, tracked by Fed, and easily-cancelled by the Fed.”
Oh yes! Just like they do in the CCP.
I can see the email from the government now. “Oh, we see you spoke out against Joe Biden on May 24, 2021, at 10:01 AM and we can see that you did not get your vaccine shot, either. We need to inform you that your monthly check from the fed dollar system is hereby cancelled until further notice. You need to get these items corrected — and fast.”
Why not have Dominion do it?
From all the fake news around - where “fake” means agenda-driven, the content of this article should be viewed with motive and intent, and not literally.
I know there are new cryptos in the future, and I’m hearing ISO 20022 will be somehow required. Not sure what that really boils down to, but new cryptos will be regulated precious-metals backed, and the fractional-reserve debt system of the FED is being dismantled in favor of QFS/NESARA/GESARA. When the latter is introduced, the FED will have a one-year ramp-down unwinding role. Bitcoin and perhaps other unregulated cryptos today will be part of the transition, as they too wind down.
So, maybe these FED statements setup future actions without yet describing them exactly.
Given that at least half of the student body...and faculty...at MIT are citizens of Red China this might not be a good idea.
America already has marxist central planning in the most important commodity of all - money.
The value is in the network protocol.
I like Peter Schiff, but he thinks it’s only gold. Why can it not be both?
Remember in 1933 the Federal government made it illegal to hold gold. It was not until Dec of 1974 was it legal again for the average person to hold gold.
There was a guy who inherited a gold bar from his grandfather after his death. Took the gold bar to his bank to deposit it. The bank took it, and said his grandfather should have turned in his gold. Thus, it was now the State’s gold.
Govermental digital currency:
Oh, let’see where John spent his money ....
Even more precisely...
To gov’t. the intrinsic value is when gov’t. owns the system in which things verifiably mine are made things verifiably yours then to the gov’t. can verifiably cancel (and verifiably record) any transaction it desires. This is not about the intrinsic value to obtain a loaf of bread. It is about the intrinsic value to give permission to buy a loaf of bread.
Cash is still king, DO NOT ever give it up.
CENTRALIZED crypto is the polar opposite of everything being pushed today.
decentralized crypto is more akin to gold
centralized crypto is just another fiat currency with full tracking
If the fed’s putting out a form of electronic money - that’s the opposite of bitcoin... and true crypto currencies. The advantage of a cryptocurrency is if the dollar crashes and burns it’s a safe haven. A fed version is nothing more than traceable spending...more control for the fed - props up reserve currency status and fails when the dollar fails.
You’re right.
Blah,blah,blah. The Federal Reserve is bankrupt who cares what they are planning. Its all kabuki theater.
And just by coincidence massive banks are buying bitcoins while ‘they’ are driving down the cost.
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