CBDC in 2023: Federal Reserve planning to implement "FedNow" digital currency between May and July of 2023
America's new digital dollar is almost here
as the Federal Reserve gears up to unleash its "FedNow" program at some point between now and next July.
Brannon Howse spoke with Rebecca Walser about the shift, which is right now being piloted in anticipation of a soon full release
. Here is how the Board of Governors of the Federal Reserve System describes the FedNow Service:
"The FedNow Service will be available to depository institutions in the United States and will enable individuals and businesses to send instant payments through their depository institution accounts. The service is intended to be a flexible, neutral platform that supports a broad variety of instant payments."
"At the most fundamental level, the service will provide interbank clearing and settlement that enables funds to be transferred from the account of a sender to the account of a receiver in near real-time and at any time, any day of the year. Depository institutions and their service providers will be able to build on this fundamental capability to offer value-added services to their customers."
The FedNow Service will be available 24 hours a day, seven days a week, 365 days a year for instant processing. End-of-day balances will be reported on the Federal Reserve's accounting records for each participating depository institution every business day, while intraday credit will be provided using the same terms and conditions as other Federal Reserve services. (Related: Remember last spring when the Federal Reserve's entire payment system crashed
due to an "operational error?")
Forced digital identification to accompany participation in new digital currency economy
All of this is being peddled by the Fed as a convenience to the public, and a solution to the engineered collapse that will predicate it. In the end, the masses will be herded into a total surveillance and police state where people will have to prove their identity digitally in order to participate in this new digital money scam.
"What they're trying to do is force you to always say who you are and be verified with your digital ID," Walser explained to Hose. "We're already seeing that the credit agencies in America – TransUnion, Equifax, and Experian – have already said that they have agreed to start carbon footprint individual tracking on your credit score. This is just exactly the Chinese playbook 101, and if we don't wake up that the pot is starting to boil, it's going to be too late."
The two also discussed how 5G fits into all this as a means of handling all the digital traffic that will accompany the use of the Fed's new digital currency system. In addition to blasting people with sound waves used as mind and behavioral control, 5G towers will be needed in this new paradigm to keep the system and all of its data up and running at all times.
"We're at the point now of no return – we have finally reached it," Walser said. "If we look at the Federal Reserve and we look at fiat currency – currency that is not backed by any hard assets like it was when we were previously on a gold standard – you realize we've really reached the end of the road – we cannot continue."
"We really in 2008 and 2009 started to follow an economic theory called MMT: modern monetary theory. It's a Keynesian economic theory that basically says a country can print as much currency as they need as long as they have the taxing authority to collect enough to pay the interest – you just need to continue servicing the debt and everything will be fine."
Be sure to watch the full interview at FrankSpeech.com
The collapse of the current money system is well underway. To keep up with the latest, visit Collapse.news
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