Well shit, I actually had not heard about this Fednow bullshit until yesterday.
I will admit that this probably is the CBDC and the take in my note sent yesterday is probably wrong….
I guess the ability to control far outweighs any other benefits of debt monetization.
I’m looking for more regional bank failures, consolidation to big banks, a recession where the government will force plebs to sign up for this Fednow to get their stimmy check and then the government forcing the surviving banks to switch to this system during the crisis.
Considering this comes out in July, September seems like a good time to crash the system, right before the holidays so people are compelled to sign up to buy their presents.
Stay humble, Send notes, Stack sats.
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https://www.cnbc.com/amp/2023/03/15/long-awaited-fed-digital-payment-system-to-launch-in-july.html
I’m more familiar with the Australian CBDC but these things are not ready for prime time yet, they’re focused on interbank firstly and retail will be a whole other can of worms.
Unfortunately for us in Aus, the gov relied on the private sector to do the work which means it will actually happen. If they’d try’d to do it themselves I wouldn’t have taken it seriously.
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