Loading ...Video: FEDNOW Payment System Laying Groundwork for Central Bank Digital Currency
Michelle Makori of Kitco News interviews former Wall Street banker, Richard Werner, an expert on central banking and central bank digital currencies.
Although there is much more content, here are some of the main points that resonated with me.
– Central banks have a long history of wrecking banks and national economies, and then ushering in rescue plans that turn out to be even more disastrous.
– Governments have a long history of protecting central banks, no matter how badly they wreck the national economy and peoples lives.
– In the U.S., more than 10,000 banks have disappeared over the last 35 years.
– The ECB has killed more than 5,000 banks in Europe in the relatively short period of time since it was established.
– The FEDNOW Payment System, to be launched in July, is seen as laying the groundwork for a CBDC (central bank digital currency).
– Although Fed members may want to do what is in the best interests of the nation, they have to follow orders from controlling interests.
– Do not listen to what the Fed says. However, pay close attention to what the Fed does.
Despite what various “pundits” claim, we don’t know if Jay Powell is a good guy or evil guy. What we do know, is that he isn’t stupid, therefore we can conclude he has created this crisis on purpose. It is either because he is laying the groundwork for a CBDC, OR because he needed to crash the current system before everything was in place to implement a CBDC, so something else would be implemented instead, going back to gold/silver sound money. I am hoping it is the later but concerned it is the former.