1 min readUS Fed Chair Floats Idea Of Centrally Controlled Digital Currency

In this June 20, 2022 article for Reclaim the Net, Didi Rankovic reports on the US Federal Reserve’s plan to introduce central bank digital currency (CBDC).

Speaking at the Inaugural Conference on the International Roles of the U.S. Dollar last June 17, 2022, Federal Reserve Chairman Jerome Powell said that the US is examining if the CBDC would “represent improvement not only of the upcoming instant 24-7 FedNow payment system but also…potentially help maintain the dollar’s international standing”.

Editor’s Note: The plan to roll out digital currencies has been in the works since 2020. And while governments are saying that CBDCs were only a way to meet the needs of the times, there are dangers associated with this plan.

We encourage you to read the following articles to better understand CBDCs and their implication on the economy and the global financial system: IN NEW WORLD ORDER, CENTRAL BANKS WOULD GAIN UNPRECEDENTED POWER OVER YOUR SPENDING, Federal documents warn of sweeping implications if ‘digital loonie’ adopted, Dangers Of a Digital Dollar.

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