Why the Fed Is Considering a Digital Dollar | WSJ

39

The Federal Reserve is trying to figure out how to keep cash relevant in a cashless world. It’s considering digitizing the U.S. dollar, giving people money they can access on their phone and bypassing electronic payments that can be slow and costly for businesses. Illustration: Jacob Reynolds/WSJ

More from the Wall Street Journal:
Visit WSJ.com: http://www.wsj.com
Visit the WSJ Video Center: https://wsj.com/video

On Facebook: https://www.facebook.com/pg/wsj/videos/
On Twitter: https://twitter.com/WSJ
On Snapchat: https://on.wsj.com/2ratjSM

#WSJ #Economy #DigitalCurrency

source

RELATED ARTICLESMORE FROM AUTHOR

39 COMMENTS

  1. I REJECTED GOLD OF JP MORGAN ORDER OF WARREN BUFFETT👑 AVAILABLE IN TEMPLE -1$ (50₹ KG)REAL PRICE GOLD NOT 50 LAKH ₹ PER KG (2) COPPER WIRE USEFUL IN HOUSE 🏠 FOR ELECTRICITY conduction but gold no use for electricity conduction ETC GOLD MUST TRADE @500₹ KG NOT 50 LAKH ₹ KG JP MORGAN & CHASE MANIPULATION

  8. Most Chinese use "WeChat" now to pay for anything. My Treasury direct deposit comes to my bank many days before payment is due. The bank then "floats" my money in their account till my payment is due. This earns my bank a small amount of interest. Multiply that interest by millions and you are looking at serious cash😲

  9. Since the Constitution has been torn away from citizen control by allowing
    a private entity – the "Federal Reserve System" to print and control our money
    now the proposal is to let yet another entity control ALL usage of private funds(i.e.YOUR MONEY!)
    Only a STUPID PERSON would allow a stranger to manage what wealth you still have.

  10. If the current criminal regime that has taken over our governing factions is planning on defaulting on coin of the realm they are planning on a war, which they have been waging against us, the American citizenry, since Ronald Reagan's 2 terms. Did you think that by simply saying in public Mr Gorbachev take down that wall influenced the entire communist leadership to concede and take down that wall spoken by Ronald Reagan,,,yeh,,,right.
    Let's all go eat some government provided bugs to eat, they say bugs taste like cheeto's,,,

  11. The truth behind this? The government will track the spending, control the flow, and, in the end, the truth will reveal itself. Control, why are you buying this or that. If you can purchase this or that, then you are making too much money and we [Government], need to tax you more.

  12. Digital dollar is fake dollar .meaning of a computer hacker Gains access to some digital dollar machine your money is at risk .if you lose electricity your money is at risk .if you data bank is damaged by a virus or bomb your money is at risk .if a mad employee is angry and decides he wants to get even with his boss and erased All your records.your money is gone .think IRS DMV SSI these govt agency’s are terrible at record keeping and we are to trust them to not lose our Monies or have issues . Or someone steals your identity and messes it up so bad the turn off your money than what .you don’t eat .digital dollars are only good for people who have real assets .they can buy food when ever they want .all this means is no line for them and the best of everything for them cause they have real assets .anyone who wants digital dollars are either stupid or part of the problem .thats my opinion

  14. No matter the benefits of a CBDC, it takes the control of your money away from you and gives it to the government. It is programmable. The government can take your money away or make it terminate at a certain time. They would be able to control what you spend your money on. It is centralized and therefore controlled. They will not make it decentralized with blockchain technology because they would lose control. The WSJ is not righteous and not telling people the whole truth.

  15. The Fed is a radical liberal institution all the way. I know this because I worked for them for 30 years. They are not elected by the people, and the members are made up of business people and owned by the big banks. Their interest is in controlling of the public. They will have even more control when CBDC is put into the system and people are forced to use it. They are ESG all the way. We do not have a free market, it is manipulated by the Fed. I remember when I worked there, if you were not liberal you were marginalized. I even had a man in a suit come up to me once at the bank and asked me, point-blank, did I believe I was responsible for the sins of my grandfathers? Furthermore, I replied in the negative and I never got another raise or promotion the entire time I was there. ESG is a liberal industrial conspiracy promoted in all of our institutions, including the universities.

    If the Fed was serious about doing the right thing for the country, they would make CBDC decentralized in blockchain and not centralized as they plan. They simply will not give up that power that they have. This man is right, the Fed needs to be stopped. Our economy is too important to be run by a few people with an agenda. In fact, it is too important to be run by governments with their loose spending and taxing. Our currency needs to be backed by something of value like precious metals or commodities or a combination of the two.

    END THE FED make it an independent part of the government much like the Justice Department but not appointed by the administration.

  17. If I ever had the chance to ask Elizabeth Warren anything, it would be why should we care about bogus private money? Why is that an argument for a digital dollar? It makes no sense. "Bogus private money" like Bitcoin were not a threat to the US dollar. She even states that unless this is done with extreme specificity, this won't be good. Why roll the dice on something so tertiary that could have devastating implications?

  18. This will aid the mark of the beast, not to mention if you live where storms knock the power out and internet goes you can't buy nothing. Riot, riot, riot people!!!

  19. “Global economy”
    You all heard that right?

    I hate Elizabeth warren

    You’re a slave

    Blockchain was created by AI
    The elite have been taking instructions from AI since the 1960’s the shah of Iran revealed it during an interview in 1976

  20. When the rapture takes place, we don't have to deal with the Devils currency. Only those who have been left on earth will have to deal with this evil wickedness. People dont believe that the rapture is about to take place, keep watching God is about to show the world

  24. Wow when the government says they want to change the system to benefit and help small Business look out it’s a lie they have been destroying small businesses for yrs in this country

  27. Imagine having an expiration on your money “ THINK about that for a minute” let it sink in ….. read the articles , the purpose of having an expiration is to create more spending in the economy, so what’s happens when your money expires lol like magic it’s gone , thanks for playing “ freedom to do what we tell you”

  28. Control, control, control. If we allow this, our spending decisions will be under the control of government. To be told how to, when to, and if you don't obey your funds get closed. I don't see this as anything, but a major control scheme. Don't be fooled. It will probably be pitched as oh wow so the government will supply me my money to spend every month. Free, free, free money. They will shut you down, take away for being none compliant. You speak out, buy too much of something and not enough, of something else , so the government now watching and monitoring you, so they can shut off your funds. Wth

  36. This is so fking absurd and disgusting all about power and control , look what canada did to the truckers … you dont think the Democrats would do something along those lines to people , they will abuse their power and freeze peoples accounts.

Comments are closed.