FED CentralBankDirectControl CBDC
In the last few days, the FED announced via a note, informing the public of what is necessary for the CBDC and what to expect. To boil it down, they state a couple of interesting issues. 1) legal mandate, 2) absolving themselves from responsibilities, 3) creating the demand, 4) breaking habits.
To not waste any time of the reader, their main focus is on creating the right conditions (demand), and Powell believes there is a lot more ‘work’ to do to create those conditions! If we go by last year's events, we can see they mean there needs to be more work on making people poorer and desperate to create the ‘right’ conditions. This is a very big focus for them and they are deadly serious about bringing in their direct control mechanism but they recognize people are not totally stupid, and no one trusts the central banks, so they have an uphill struggle to get anyone to accept their horse shit.
They also state for anyone paying attention that there is no legal mandate to force buyers and sellers to use any specific currency, including their new CBDC currency as legal tender. They are obviously salty at BTC and crypto’s arrival with the ability of private entities to issue tokens, ICOs just as stock share certificates are issued (without paying their bribes) and the FED issued USD, by creating fractional value tokens and currencies privately. They are really worried that decentralized stable coins such as DAI, USDC, etc. are competing with their control and monopoly on issuing free money because people actually prefer crypto after trying it on mass.
Young people especially those who are not so habitually affixed to using USD cash and traditional banking cards realizing out of the gate that crypto has advanced features, better interest rates, easier access points, better tech, and a whole remit of better features that they find attractive. Not least the developers are not warmongering criminals who have for hundreds of years exploited the ignorant public with their war crimes.
But the kicker announcement will be in the decentralized blockchain feature would not work for the transaction volume of the USD that requires higher throughput so a standard centralized database subject to the full central control feature is necessary. You know, because blockchains cannot do fast nor high volume transactions and centralized chains can offer full direct control!
Absolving themselves from responsibilities, they claim the ‘standard’ treatment of endpoint to endpoint participants will not be subject to operations responsibility. That means in plain English if someone steals your house, you are on your own, but at the same time, if someone doesn't pay them their tax, they will have the ability to ‘legally’ impose sanctions and enforce those sanctions (cut you off totally or impose direct theft and extortion).
So are you ready for the new Central Bank Direct Control? Imagine all the new features they will offer you; it is centralized, they can now trace all your spending, make sure you pay all the extortions, and they can sanction you by limiting your access to any services that require full payment in their currency? Want to use a public hospital, or pay a dentist, or use a school, make sure you are fully up to date on all the requirements of the CBDirectControl grid, which issues mandates by law like your business is not essential and you are not essential.
Just remember this is for the good of everyone, where we go one, we go all, right?
