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DIGITAL CURRENCY: COMMUNIST CHINA COMES TO AMERICA?

Money

How long after the imposition of a “digital dollar” as America’s currency will we see automatic tax levies and restrictions on purchasing certain goods and services based on a social scoring system similar to that in Communist China?

2022-11-16 15_15_48-GreenshotNew York Innovation Center to Explore Feasibility of Theoretical Payments System Designed to Facilitate and Settle Digital Asset Transactions

The Federal Reserve Bank of New York today announced that its New York Innovation Center (NYIC) will participate in a proof-of-concept project to explore the feasibility of an interoperable network of central bank wholesale digital money and commercial bank digital money operating on a shared multi-entity distributed ledger.

This U.S. proof-of-concept project is experimenting with the concept of a regulated liability network. It will test the technical feasibility, legal viability, and business applicability of distributed ledger technology to settle the liabilities of regulated financial institutions through the transfer of central bank liabilities.

“The NYIC looks forward to collaborating with members of the banking community to advance research on asset tokenization and the future of financial market infrastructures in the U.S. as money and banking evolve,” said Per von Zelowitz, Director of the New York Innovation Center.

As part of this 12-week project, the NYIC will collaborate with a group of private sector organizations to provide a public contribution to the body of knowledge on the application of new technology to the regulated financial system.

This project will be conducted in a test environment and only use simulated data. It is not intended to advance any specific policy outcome, nor is it intended to signal that the Federal Reserve will make any imminent decisions about the appropriateness of issuing a retail or wholesale CBDC, nor how one would necessarily be designed. The findings of the pilot project will be released after it concludes.

For additional information on this project, visit the NYIC webpage. For information from the group of financial market institutions participating in this collaboration, see here. <Source>

It’s all about control...

Atm-dc-1

At least to me, it is not inconceivable that the elites are materially weakening the United States from within to cement their position of dominance for the coming generations.

Promoted by a generation of individuals bereft of humanity, decency, and morality -- a generation that accepts that which appears on their electronic devices over what they might experience if they got off their snowflake asses.

They have destroyed our economy by ignoring the efficiency and cost-effectiveness of fossil fuels for the specious unattainable promises of unreliable, unsustainable, and costly so-called green alternatives like solar and wind power. Shunning the environmental benefits of nuclear energy based on what is basically cold war propaganda.

Now they are coming for the lifeblood of our economy, the payments system.

We are so screwed.

-- Steve

FED-DOLLAR


“Nullius in verba.”-- take nobody's word for it!

“Beware of false knowledge; it is more dangerous than ignorance.”-- George Bernard Shaw

“Progressive, liberal, Socialist, Marxist, Democratic Socialist -- they are all COMMUNISTS.”

“The key to fighting the craziness of the progressives is to hold them responsible for their actions, not their intentions.” – OCS

"The object in life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane." -- Marcus Aurelius

“A people that elect corrupt politicians, imposters, thieves, and traitors are not victims... but accomplices” -- George Orwell

“Fere libenter homines id quod volunt credunt." (The people gladly believe what they wish to.) ~Julius Caesar

“Describing the problem is quite different from knowing the solution. Except in politics." ~ OCS