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The Federal Reserve Set to Launch ‘FedNow’ Payment System in July

Need to Know News  | March 20, 2023
Last week, an unidentified speaker at a Trilateral Commission meeting stated, “this year, 2023, is Year One of this new global order” and that inflation will last for decades. Days later, the Federal Reserve announced a July launch for their new FedNow service. FedNow is an instant payment processing system that seeks to be the base of all digital transactions. Centralized payment systems that monitor and record payments have been shown to be a gateway to a Central Bank Digital Currency (CBDC) digital dollar. Federal Reserve Chairman Jerome Powell claimed the central bank was not close to releasing a US CBDC and said it could take years. CBDC would be legal tender. Powell is aware of criticisms that CBDC is neither wanted or needed.

.Although the creation of any CBDC for public use would require the authorization of Congress, Powell said a “wholesale” digital currency exclusively for use between banks and the Fed would not require approval. Powell indicated that a CBDC could be rapidly rolled out to the public if it’s decided upon by Congress.

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1 Comment on The Federal Reserve Set to Launch ‘FedNow’ Payment System in July

  1. This is a Social Credit system linked to money. All transactions will be instantly approved OR DENIED to institutions. The crypto people will go into their dark night singing. I hope nobody on this site is deceived!

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