Coming ESG, Fedcoin and Caution

Guys theres something on my heart i want to share, I urge ALL OF YOU to take your money out of any big banks, and move to SMALL LOCAL credit unions, we have something coming down the pike called ESG, and this WAR with Russia is facilitating their plans(please look it up and do your research and its scary, Ive brought it up before here)

Someone I know just spent some time here in Idaho with our legislator, our governor etc, to talk about passing laws AGAINST ESG in our state.
From what theyve said, it looks like DC has gotten to our people here and we will be lucky if we get ANYTHING passed against it, if that happens HERE it will happen ALL OVER.....ESG will permeate nearly EVERYTHING, but Smaller local banks will have more say in what they do, the big ones, Chase, Wells Fargo, Key, etc will be beholden to those passing this ESG stuff....

Short version ESG scores will Control not only if you can get a loan, but WHAT you can buy and where you can buy an when you can buy depending on your social credit score, or how green you are, or even stuff youve posted on FB...

Youre going to start hearing more about FED COIN, they will literally be able to program that to CONTROL how you spend, dont believe me LOOK it up, there are tons of videos of people talking about how to do this, and they arent just joe schmo these are the people MAKING THE COIN.

I know it sounds like a huge conspiracy but its NOT and its on its way here FAST, PLEASE PLEASE move your money to LOCAL smaller credit unions and keep some cash on hand, if this DOESNT happen then hey, at least your better off at a smaller bank and no harm no foul.....but if I and many others are RIGHT, this could save you, dont believe they can do it? Remember the Truckers and their supporters bank accounts FROZEN in Canada? Please head this warning.

Everything were seeing now with Russia and Ukraine and our involvement, and the issues with oil and our gov stopping our production here, and the rising price of goods and services ALL PLAYS IN to this. THIS is why things with Ukraine and Russia seem so convoluted, and so does our involvement, theyre USING this situation just like they used Covid

ESG youre being monitored

Fedcoin is Coming and THEY control how you spend

a reply to: ManBehindTheMask

Frankly, if you're not a tax cheat, don't like credit card companies and paying their vig on transactions than Fedcoin will be a help when it comes to P2P payments.

originally posted by: AugustusMasonicus
a reply to: ManBehindTheMask

Frankly, if you're not a tax cheat, don't like credit card companies and paying their vig on transactions than Fedcoin will be a help when it comes to P2P payments.

Fedcoin will be controlled by what your ESG score is, all the way down to the private citizen, theyve modeled it after what China is doing, and thats EXACTLY what happens there. In China they can cut off your ability to travel, Bank or even buy certain goods if your social score isnt "favorable" , these are facts

There is NOTHING good about Fed-Coin and ESG literally means Environmental, Social, and Governance movement, we dont need WOKE ideology deciding what private citizens can and cannot purchase

Weve seen it with Firearms manufacturers and the banks, weve seen it in Canada, and were watching it Real time as the world CUTS OFF Russian citizens , if they can and will do it to them, theyll do it to us, were seeing this real time

This is why there is such a move to eliminate physical cash, because they cannot control how you spend it

originally posted by: ManBehindTheMask
Fedcoin will be controlled by what your ESG score is...

Uh, that's not how it works.

This is the whitepaper it's based on, show me the social credit aspect.

This is why there is such a move to eliminate physical cash, because they cannot control how you spend it.

DC P2P transactions will happen off network, they cannot be controlled, it's similar to ISO 18013. They also cut out the middle people and if it's a ISO 20022 compliant free to use platform there's no fees.

originally posted by: AugustusMasonicus

originally posted by: ManBehindTheMask
Fedcoin will be controlled by what your ESG score is...

Uh, that's not how it works.

This is the whitepaper it's based on, show me the social credit aspect.

This is why there is such a move to eliminate physical cash, because they cannot control how you spend it.

DC P2P transactions happen off network, they cannot be controlled. They also cut out the middle people and if it's a ISO 20022 compliant free to use platform there's no fees.

I dont care if you believe thats how it works or not, WERE SEEING IT, they JUST did a test run in Canada

Im not going to sit here and go back and forth with you dude, Ive watched you for years ignore facts and side with more socialist aspects of things....

DC P2P transactions happen off network, they cannot be controlled.

The hell they cant........again weve seen them do it, weve watched peoples Digital Coin get frozen

I really dont care if you like this or believe it or not, youve consistently been wrong about stuff coming down the pike that has come true

This message is for those out there to spark the want to find out more information and do their own research

Not for those who have a history of supporting this sort of totalitarian stuff

Good day

originally posted by: ManBehindTheMask
I dont care if you believe thats how it works or not, WERE SEEING IT, they JUST did a test run in Canada

Canada doesn't have a digital currency so you're seeing nothing of the sort related to a proposed USDC.

Im not going to sit here and go back and forth with you dude...

Your choice, but this is what I do for a living. I actually have insight into how the applications function and they don't function on hyperbole and hysteria.

Ive watched you for years ignore facts and side with more socialist aspects of things....

A digital currency is apolitical. And like I said, if you like paying transaction fees on P2P platforms like Venmo than maybe it isn't for you.

The hell they cant........again weve seen them do it, weve watched peoples Digital Coin get frozen...

They froze people's USDC? Interesting.

I really dont care if you like this or believe it or not, youve consistently been wrong about stuff coming down the pike that has come true

Examples?

Maybe have a Snickers Bar too, bro, you sound angry with all your socialism/totalitarian ad homs.

originally posted by: AugustusMasonicus

originally posted by: ManBehindTheMask
Fedcoin will be controlled by what your ESG score is...

Uh, that's not how it works.

This is the whitepaper it's based on, show me the social credit aspect.

This is why there is such a move to eliminate physical cash, because they cannot control how you spend it.

DC P2P transactions will happen off network, they cannot be controlled, it's similar to ISO 18013. They also cut out the middle people and if it's a ISO 20022 compliant free to use platform there's no fees.

What is the relation of the white paper you linked to the RFC (Money and Payments: The U.S. Dollar in the Age of Digital Transformation) that is posted on the Federal Reserve's website?

a reply to: SleeperHasAwakened

That's a different one. The MIT paper is more of the framework on how a USDC would function in application, the paper you mentioned is more a position paper to stimulate discussion.

ETA: The position paper is relatively easy to read and covers the fundamentals of why a change to a DC is good for continued US currency dominance. The MIT paper can get a bit inside baseball if you don't understand payments/settlement very well but is still interesting.

a reply to: ManBehindTheMask

Sound advice!

Like you said, it will not hurt, but it might help you.
On a side note, a lot of smaller credit unions have issues.
I know because I use two of them and they are always having problems.

Cash is King, But cash is dangerous if people know you have it!

originally posted by: AugustusMasonicus
a reply to: SleeperHasAwakened

That's a different one. The MIT paper is more of the framework on how a USDC would function in application, the paper you mentioned is more a position paper to stimulate discussion.

ETA: The position paper is relatively easy to read and covers the fundamentals of why a change to a DC is good for continued US currency dominance. The MIT paper can get a bit inside baseball if you don't understand payments/settlement very well but is still interesting.

Got it.

So is this JP Konig an economist/techie? I have been looking for information on him, and I see his blog posts, but I'm finding scant info on his background/credentials.

The only somewhat official looking bio is here.

As we found with BTC and "Satoshi Nakamoto", the cryptocurrency space has a history of cryptic, obscure idea people.

originally posted by: SleeperHasAwakened
So is this JP Konig an economist/techie?

More of a financial guy, if I recall he's Canadian.

When the 3 main currencies go digital, l wouldn't think toouch about it.

Japan is going digital, but it will be a long time. We are actually now printing new paper money to combat conterfeit money.

Remember it also comes down to tourism also.
And note that Hong Kong is mostly now a cashless society.

a reply to: ManBehindTheMask

This link lands on a page at the Federal Reserve site that offers the public a chance to send comments to Fed regarding their concept of a Central Bank Digital Currency. See the "Submit Feedback" button at the bottom of the page.

So it should be possible to send criticisms and concerns to the people who are proposing the Fedcoin, but whether or not they are actually going to read and respond to public comments is dubious.

originally posted by: SleeperHasAwakened
So it should be possible to send criticisms and concerns to the people who are proposing the Fedcoin, but whether or not they are actually going to read and respond to public comments is dubious.

Read, maybe, respond, probably never. I know they are saying publicly that they're still soliciting feedback but all the puzzle pieces are in place, it's just a matter of getting legislation approved to get the green light to start.

originally posted by: AugustusMasonicus

originally posted by: SleeperHasAwakened
So it should be possible to send criticisms and concerns to the people who are proposing the Fedcoin, but whether or not they are actually going to read and respond to public comments is dubious.

Read, maybe, respond, probably never. I know they are saying publicly that they're still soliciting feedback but all the puzzle pieces are in place, it's just a matter of getting legislation approved to get the green light to start.

Yes, this is all sounding very fait accompli.

The question in my mind is how are they going to wind down the paper currency. They are already taking physical coins out of circulation, and blaming coin shortages on "the pandemic". Probably they will find some other excuse to do the same with bills (e.g. engineer a paper shortage).

The other question is, what will happen with the other cryptocurrencies that are competing with a potential CBDC. If they really want widespread adoption, will they go the China route, and for example, ban mining of the their competition, or find some other way to choke off the other crypto coins.

originally posted by: JAGStorm
a reply to: ManBehindTheMask

Sound advice!

Like you said, it will not hurt, but it might help you.
On a side note, a lot of smaller credit unions have issues.
I know because I use two of them and they are always having problems.

Cash is King, But cash is dangerous if people know you have it!

Absolutely lol ive hadd that problem as well, I finally found a good one, here outside Boise, its locally owned and theres only 2 branches, and by local i mean the family that owns it lives about a mile from me, sometimes its hard to find a good place but its sooooo worth it

And yes cash on hand and other valuables is DEF better to have than not, glad you see the common sense in all this, and wish you the very best with whatever is coming

originally posted by: SleeperHasAwakened
The question in my mind is how are they going to wind down the paper currency. They are already taking physical coins out of circulation, and blaming coin shortages on "the pandemic". Probably they will find some other excuse to do the same with bills (e.g. engineer a paper shortage).

Despite the hair on fire sky screaming this isn't happening overnight and they know they can't make it happen overnight. I don't think you'll see a Beta USDC implementation prior to 2030, paper money will be around for several more decades at least.

The other question is, what will happen with the other cryptocurrencies that are competing with a potential CBDC.

Examples? Because I haven't seen one crypto that is a viable currency able to compete on both the front and back end of payments/settlements or able to eventually compete with a USDC that's capable of processing trillions of transactions.

originally posted by: SleeperHasAwakened
a reply to: ManBehindTheMask

This link lands on a page at the Federal Reserve site that offers the public a chance to send comments to Fed regarding their concept of a Central Bank Digital Currency. See the "Submit Feedback" button at the bottom of the page.

So it should be possible to send criticisms and concerns to the people who are proposing the Fedcoin, but whether or not they are actually going to read and respond to public comments is dubious.

Thank you very much for this , i had not seen this, and ill be sure to do so, although it being the FED im not sure what difference it would make, they all run i the same circles it seems lol

a reply to: ManBehindTheMask

I wish small, local credit unions were the answer.

Sadly, in my experience, they are not. Instead of supporting local, they play with our money in the same ways the big boys do.

While i agree completely with your warnings, the resolution is yet to be seen. Imo anyway.

Great thread here entertaining and informative and it isn't about Ukraine.