News With Views By Devvy Kidd
“If congress has the right under the Constitution to issue paper money, it was given them to use themselves, not to be delegated to individuals or corporations.” —President Andrew Jackson
There’s a lot of anxiety right now as the globalist grand poohbahs are rolling out their tools to force a cashless society on us. First on the list activated last week:
Federal Reserve officially launches new FedNow instant-payments service, July 20, 2023 – “As FedNow goes online, Fed officials are studying the implementation of a central bank digital currency, with some saying they think FedNow could mitigate the need for a CBDC.”
“What Is FedNow? FedNow is the first U.S. government-created and -backed portal allowing banks to send and receive funds almost instantly.” And, “Part of the confusion stems from separate discussions on whether the Fed should create what’s called a central bank digital currency (CBDC). The Fed has clarified that it has made no decision on issuing a CBDC, and that it would “only proceed with the issuance of a CBDC with an authorizing law.”
“Issuing a CBDC is “something we would certainly need congressional approval for,” Fed Chair Jerome Powell told the House Financial Services Committee in March.” There is no such approval for CBDC retail as I explained in my July 1, 2023, column Central Bank Digital Currency Fight Heats Up
That link has a full explanation of what FedNow is and isn’t.
Central Banks Successfully Test Over 30 CBDC Use Cases, Including Offline Payments, June 16, 2023 – “A joint experiment by central banks has tested ways to connect monetary authorities and the private sector to facilitate retail digital currency payments, according to a new report released on Friday.
“The experiment saw the London Innovation hub of the Bank for International Settlements – which groups the world’s central banks – and the Bank of England develop 33 application programming interface (API) functionalities to test more than 30 central bank digital currency (CBDC) use cases, including offline payments. API software allows two or more computer programs to communicate and share data with each other…
