Digital Currency – What Could Go Wrong?
[LFC Comments: Thanks to a new Willoughby lobbyist for making us aware of this article.
Why would the Federal Reserve want digital currency?
Answer: “So that the feds can track every penny you spend and where it is spent.”…..Willoughby lobbyist.
Which leads us into other questions: Why are some retailers currently accepting only exact change for payment of purchases? “Is there really a coin shortage”?
If you believe that there is a coin shortage, then you probably also believe that Oswald was the lone gunman, the two planes took down the Twin Towers, and Joe Biden, if elected, will be the President of the United States.
Our Federal government is slowly but surely trying to turn us into a society very similar to what is currently experienced in Communist China. Total control of the lives of people is the goal of the elite globalists. The U.S. Constitution, freedoms and liberty will be fleeting memories for the next generations unless average citizens get actively involved in their local government.
Remember, evil works in incremental steps.]
Fed partnering with MIT to develop “hypothetical digital currency”
Federal Reserve Board Governor Lael Brainard said that the Fed is investigating whether a central bank digital currency (CBDC) would be safe and efficient for widespread use.
“Given the dollar’s important role, it is essential that the Federal Reserve remain on the frontier of research and policy development regarding CBDCs,” Brainard said at the Federal Reserve Bank of San Francisco’s Innovation Office Hours. “As part of this research, central banks are exploring the potential of innovative technologies to offer a digital equivalent of cash. Like other central banks, we are continuing to assess the opportunities and challenges of, as well as the use cases for, a CBDC, as a complement to cash and other payments options.