CDBCs Are Coming Very Soon, And So Is The End Of Freedom

originally posted by: AugustusMasonicus

originally posted by: ManBehindTheMask
And yes fedcoin is ready or very very soon will be...

It isn't even in development.

Lmao they're literally releasing it in July. How can you say this stuff either flat out lying or completely ignorant of it

The fed flat out said it there's money people all over the web talking about it

Lolwhat????

a reply to: ManBehindTheMask

See above

Feel free to apologize.

July release

Feel free to apologize yourself but we all know how that goes

a reply to: ManBehindTheMask

Like I said, FedNow, not FedCoin.

originally posted by: AugustusMasonicus
a reply to: ManBehindTheMask

Like I said, FedNow, not FedCoin.

Lmao it's the same fkn thing and you know it....christ you're dishonest

originally posted by: ManBehindTheMask
Lmao it's the same fkn thing and you know it....christ you're dishonest

FedNow is a ISO:20022 instant payment platform, similar to what The Clearing House does now for banking settlement, it has nothing to do with a CBDC.

From your own source, FFS:

Some Fed officials say the program even could supplant the need for a central bank digital currency.

It's 'the same thing' but for some reason it will supplant the need for a CBDC? Do you know what 'supplant' means? Shall I explain that? Why would it supplant the need for something if they were in fact the same thing as you so erroneously claimed?

You can apologize for confusing them or continue to look like a extremely ignorant person. Your call.

a reply to: ManBehindTheMask

from what i understand fednow is like vemo, paypal, applepay, googlepay, venmo, zelle, a peer to peer money transfer / payment service.

it's not a federal currency, which now you have to actually have some federal issued currency in the bank to use a peer to peer service.

but there is some argument as to whether you actually have federal currency in the bank or just credits that say you do.

In response to the misinformation and confusion, the Federal Reserve on Friday tweeted part of its FAQ section relating to the service, reiterating that FedNow is not a form of currency, nor is it moving towards eliminating cash. Instead, it is a payments service that will be available to banks and credit unions, enabling them to speed up the processing of checks and electronic payments. This will mean people can access their paychecks and transfer money to other accounts instantly, any time of the day or week. Currently, these processes can take up to three days to clear and are often delayed on holidays and weekends.
Federal Reserve’s payment service FedNow would not replace cash

originally posted by: ManBehindTheMask

originally posted by: AugustusMasonicus

originally posted by: ManBehindTheMask
And yes fedcoin is ready or very very soon will be...

It isn't even in development.

Lmao they're literally releasing it in July. How can you say this stuff either flat out lying or completely ignorant of it

The fed flat out said it there's money people all over the web talking about it

Lolwhat????

Well the Atlantic Council has some information on different countries who have CBDC's in development.

As of December 2022, all G7 economies have now moved into the development stage of a CBDC. The New York Federal Reserve’s wholesale CBDC experiment, Project Cedar, has shifted the US from research into development

www.atlanticcouncil.org...

It also says 114 countries are considering CBDC and 60 countries are in an advanced stage of exploration, which they say means "development, pilot or launch"

And 11 countries have already fully launched, with Jamaica being the most recent according to them and China has a pilot program with 260 million people which is supposed to expand to the entire country in 2023. Maybe the Atlantic Council is lying. It's possible. BUT according to them, the US does already have CBDC in the development phase.

Double post.

originally posted by: BernnieJGato
from what i understand fednow is like vemo, paypal, applepay, googlepay, venmo, zelle, a peer to peer money transfer / payment service.

it's not a federal currency,

Exactly.

originally posted by: AugustusMasonicus

originally posted by: DBCowboy
As a small frail fat sad little man, this crap does scare me.

Since you're one of the people who knows who I really am I can say, sleep easy. I will tell you when it's actually inbound and to put on your size XXXXXXXL panic pants.

Cool, thanks Gus.

originally posted by: Antimony
BUT according to them, the US does already have CBDC in the development phase.

They have a pre-cursor experimental platform to test operability, an actual digital US dollar is not in development.

originally posted by: AugustusMasonicus

originally posted by: Antimony
BUT according to them, the US does already have CBDC in the development phase.

They have a pre-cursor experimental platform to test operability, an actual digital US dollar is not in development.

I tried to find out more info about project cedar which is the Fed's CBDC experiment and I am not really into finance so I'm not sure but it seems like it is connected to the fednow thing or maybe the fednow is the precursor to it. Just because it enables the instant settlement or settlement in 15 seconds as they say. I think. Not a finance person, but it sounds like you are so maybe you know. Or maybe this is obvious stuff I should know but don't.

www.newyorkfed.org...

In Phase I of Project Cedar, a prototype for a wholesale central bank digital currency was developed to demonstrate the potential of blockchain to improve the speed, cost, and access to a critical element of the wholesale cross-border payments market—a foreign exchange (FX) spot transaction.

originally posted by: Antimony
...but it seems like it is connected to the fednow thing or maybe the fednow is the precursor to it.

It is not connected to FedNow which is a payment platform launching in July.

a reply to: ManBehindTheMask

You figure it out yet?