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“We are a nation of sheep, and someone else owns the grass.” ~ George Carlin
The FedNow Service, launching in the United States by July, is a new payment processing system that promises to enable individuals and businesses with instant 24/7/365 payment processing that is safe, quick, and convenient.
According to the release by the United States Federal Reserve,
At the most fundamental level, the service will provide interbank clearing and settlement that enables funds to be transferred from the account of a sender to the account of a receiver in near real-time and at any time, any day of the year.
Therefore, the FedNow Service will process all transactions before crediting the receiver’s account in almost real time.
While this may seem like a positive development, it is important to consider the implications of this new system.
- The FedNow Service will have full access to your account, giving the government increased control over your finances and removing privacy and anonymity.
- The FedNow Service is programmable, allowing for the control of who, where, and when transactions can occur, as well as the accessibility of your funds. This can result in a loss of privacy, as the government gains increased insight into your financial transactions.
- The FedNow Service is the first step toward the launching of a CBDC, as a CBDC would require this infrastructure to work.
- Possible integration with other government services and digital ID, and a requirement for access to these services.
The release also states,
The FedNow Service will be released in phases, with additional features and service enhancements introduced over time.
Is it safe to assume that the additional features and service enhancements would be similar to those implemented by other governments?
Is the FedNow Service a precursor to an American Social Credit System?
Robert F. Kennedy Jr. tweeted the following in response to the FedNow Service.
The mainstream media responded by stating that he was fear-mongering and promoting conspiracy theories. But, is he? Do you agree with his sentiment?
In the past two years, haven’t many of the purported ‘conspiracies‘ become realities?
Here is how the FedNow Service will work. Pay close attention to the explanation, listen with an assertive ear, and draw your own conclusions.
It is essential to remember that not every cryptocurrency or exchange is decentralized, and not every blockchain company is producing products and services to protect your finances, privacy, or security.
Therefore, it is important to educate oneself about how to protect one’s family and finances in this technological dystopia. As more government-payment systems and CBDCs emerge, it will become increasingly important to have a contingency plan and be knowledgeable about the crypto-ecosystem.
Do not wait until it is too late. By learning about the potential risks and how to mitigate them, you can help safeguard yourself against the negative impacts of this technological dystopia.
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