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– Why Central Bank Digital Currencies are a Bad Idea LINK
– Reasons Why CBDC’s Are A Bad Idea LINK
– Why A Fed Digital Dollar Is A Bad Idea LINK
Say No To Cashless Future LINK
Link To Article – The ludicrous idea of trying to abolish cash
Link To Article Banning Cash Would Be Devastating for the Economy
“..the Fed states that a CBDC would allow “governments” to “use a CBDC to collect taxes or make benefit payments directly to citizens,” suggesting that governments would have full access to the funds of private citizens.” Link
Federal Reserve considers launching digital currency for US, raising privacy concerns
“The Federal Reserve announced Thursday a ‘public comment’ debate forum as the ‘first step’ in seriously considering the introduction of a ‘Central Bank Digital Currency’ (CBDC).
January 21, 2022 | LifeSite News |
(LifeSiteNews) — In lockstep with the “Great Reset,” the Federal Reserve has announced it will be opening up a debate over whether the United States should adopt a central bank digital currency.
The Federal Reserve announced Thursday a “public comment” debate forum as the “first step” in seriously considering the introduction of a “Central Bank Digital Currency” (CBDC). The “discussion” will involve looking at the “pros and cons” of implementing a digital currency to “improve the safe and effective domestic payments system.”
“We look forward to engaging with the public, elected representatives, and a broad range of stakeholders as we examine the positives and negatives of a central bank digital currency in the United States,” Federal Reserve Chair Jerome H. Powell said in the release.
“Consumers and businesses have long held and transferred money in digital forms, via bank accounts, online transactions, or payment apps. The forms of money used in those transactions are liabilities of private entities, such as commercial banks. Conversely, a CBDC would be a liability of a central bank, like the Federal Reserve,” the Fed explained.
According to the Fed, there exists an importance to investigate adopting a digital currency, because if other countries start their own central bank digital currency and much of the world hops on board with its use, “global use of the [US] dollar could decrease” and harm the American economy.
However, some of the potential implications are worrisome, as the Fed states that a CBDC would allow “governments” to “use a CBDC to collect taxes or make benefit payments directly to citizens,” suggesting that governments would have full access to the funds of private citizens.”