[devane617]

Can someone please explain this to me? Why is the Fed getting involved with direct consumer banking transactions?

[cableguymn]

or so like zelle, cash app, paypal and the such with more government tracking.

pass.

[Jonty30]

Because it’s a fascist government.

[Colinsky]

It’s the first step on the path to eliminate cash.

[Signalman]

The govt. will keep track of every penny you spend. Where you spend the money and to whom the money is directed. So be careful if you donate to a conservative cause or politician, or if you purchase a firearm or ammunition. Someone from the new cadre of IRS agents will be paying you a visit.

[aMorePerfectUnion]

Can’t have money not being tracked, can we

[JesusIsLord]

FedNow isn’t offered directly to individuals and businesses, but it will serve as the basis of infrastructure for instant payments by linking banks.

So, for consumer to business transactions, why is this any different from me having my bank wire $$ from my account to company X's bank account?

[ProtectOurFreedom]

Fed: “Let’s see, your credit card purchases indicate gun and ammo sales, your social media profiles indicate you support Trump, your tax return audits indicate suspicious income, your FBI file says you are a white nationalist. So we cannot process your transaction. In fact, we’ll keep the money you sent for safe-keeping, but we cannot deliver it to your recipient.”

[wny]

...so they can control you....after cash is eliminated you will be a slave. Never in possession of your own money. Every transaction you make will be monitored. You will only be permitted to buy what they allow you to, when they allow you to and where they allow you to. Only approved products from approved vendors.

Send a tweet mocking Biden? No food for you. Contribute to a Republican politician? No airline ticket for you. Already use you monthly allotment of emissons? no gasoline for you. and of course no ammunition for you. ever.

Save too much for retirement? Not fair to the freeloader class. they will let you know how much you need and confiscate the rest....

[EEGator]

So they can take it from you when you’re deemed “a problem”.

[Leaning Right]

Who knows what the Fed is up to here? The program can certainly monitor (spy on) transactions. But more than that. Once the program is set up, it could act as a kill switch between the consumer and the business.

If they don’t like the transaction, well, then there’s no transaction.

[bunkerhill7]

Back to Barter

[agere_contra]

I’m going to explore Tally Money, which apparently involves digital-transfer-of-gold-ownership: the gold held in bailment in a vault in Switzerland. An idea whose time has come.

[House Atreides]

“ The Federal Reserve Thursday officially launched its long-awaited instant payment service FedNow, which allows consumers and businesses to send and receive money in seconds.…”
*********************************************************************

Good to know but can’t we already do that?

[MtnClimber]

FED-NO

[Responsibility2nd]

Who wrote this conflicting Word Salad?

Kamala?

First they say this service will be available to consumers and businesses. Then they say it won’t.

[donozark]

“Transient Transactions.” Fed speak.

[butlerweave]

A gift to the Cartels

[G Larry]

"The Federal Reserve built the FedNow Service to help make everyday payments over the coming years faster and more convenient,"

What the Captain really means is that "FedNow is the template for Gov't mandated Crypto Currency, wherein, they can control what you're allowed to buy.

You'll never be able to drive more than half a tank of gas away from home again.

[larrytown]

Whodathunk the mark of the beast would be a big ol’ string of random numbers?

When do the injectable chips get delivered?

[aMorePerfectUnion]

You have to:

Track it all to
Tax it all to
Control it all to
Restrict it all.