FedNow instant interbank clearing and settlement platform

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Strawboss

Strawboss

Fly on the Wall
GIM2 Refugee
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A good friend works in Sr. Mgmt. at Veraphone (the company that provides many of the machines you swipe/input your card to buy stuff)...he confirmed to me that they are very, very concerned about this because it may potentially put them out of business...along with others such as Paypal, Venmo, etc...

https://www.frbservices.org/financial-services/fednow

The FedNow Service is a new instant payment service that the Federal Reserve Banks are developing to enable financial institutions of every size, and in every community across the U.S., to provide safe and efficient instant payment services in real time, around the clock, every day of the year. Through financial institutions participating in the FedNow Service, businesses and individuals will be able to send and receive instant payments conveniently, and recipients will have full access to funds immediately, giving them greater flexibility to manage their money and make time-sensitive payments. Consistent with the Federal Reserve’s historical role of providing payment services alongside private-sector providers, the FedNow Service will provide choice in the market for clearing and settling instant payments as well as promote resiliency through redundancy. Financial institutions and their service providers will be able to use the service as a springboard to provide innovative instant payment services to customers. We will update this page as we have more information about this new service, which is under development and will continue to evolve.
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My concern with it is that this is going to become the plumbing for the implementation of the one world global currency that will herald the mark of the beast. Combined with a digital crypto capable of being turned on/off depending on ones compliance with the .govs edicts...it will have the ability to force compliance from all involved.

Between ID2020.org, this and the CBDCs that are coming - the time is soon coming where the mark of the beast will no longer be conjecture but the worlds longest running conspiracy theory turned fact...
 
Strawboss said:
My concern with it is that this is going to become the plumbing for the implementation of the one world global currency that will herald the mark of the beast.
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If that's what it is, and I believe you may very well be correct, ain't nothin' you or I are gonna do to stop it.

Avalon said:
Goodbye credit card companies, bitcoin and any other competition that prohibit the government from sucking every dime out of you.
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Only if people are foolish and blind enough to start using it.
Which means, better get ready for its eventuality.
 
6And the second beast required all people small and great, rich and poor, free and slave, to receive a mark on their right hand or on their forehead, 17 so that no one could buy or sell unless he had the mark— the name of the beast or the number of its name.
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And the smoke of their torment will rise for ever and ever. There will be no rest day or night for those who worship the beast and its image, or for anyone who receives the mark of its name.”
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When they have fully implemented their "reset" - each of us will face a very tough choice.

Comply with the new regime for the sake of short term comfort...or - resist and eat bugs while being hunted until you die. Thats where things are headed folks...personally I have already made my choice (and I pray I will be deemed worthy to escape what is coming on the earth).
 
Simply put, there is only one way to beat it. Create your own localized monetary system and Co-op. Just have to have enough to circulate and keep it solely in your close-knit region.

Read: constitutional silver

Only outflow of funds should be land taxes.
 
Lately I've been trying to warn people about CBDC every reasonable chance I get. My hope is that enough people, and maybe even some government and corporate actors, will see it for what it is and reject it. It's definitely a real threat though.
 
Strawboss said:
When they have fully implemented their "reset" - each of us will face a very tough choice.

Comply with the new regime for the sake of short term comfort...or - resist and eat bugs while being hunted until you die. Thats where things are headed folks...personally I have already made my choice (and I pray I will be deemed worthy to escape what is coming on the earth).
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Sadly I suspect you are correct :(
 
Strawboss said:
When they have fully implemented their "reset" - each of us will face a very tough choice.

Comply with the new regime for the sake of short term comfort...or - resist and eat bugs while being hunted until you die. Thats where things are headed folks...personally I have already made my choice (and I pray I will be deemed worthy to escape what is coming on the earth).
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My choice would be simple. Starting a new sect of some sort of New Age Amish. Will make it up as we go.
 
Strawboss said:
When they have fully implemented their "reset" - each of us will face a very tough choice.

Comply with the new regime for the sake of short term comfort...or - resist and eat bugs while being hunted until you die. Thats where things are headed folks...personally I have already made my choice (and I pray I will be deemed worthy to escape what is coming on the earth).
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Straw, what do you mean by "deemed worthy to escape"?
 
A video explaining FedNow. Sounds like the ACH system only faster (instantaneous) .

Get ready for the FedNow(SM) Service (3 min 29 sec):​
​
​

Published on Oct 19, 2021 by FRB Services​


This video says it will be here in 2023...

Get to know the FedNow(SM) Service’s request for payment feature (3 min 28 sec):​
​
​

Published on Aug 18, 2022 by FRB Services​
.
 
Joe King said:
If that's what it is, and I believe you may very well be correct, ain't nothin' you or I are gonna do to stop it.


Only if people are foolish and blind enough to start using it.
Which means, better get ready for its eventuality.
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Through all of history there has been Black Markets that moved behind rulers and empires.
An ol prison sayin' "What one man builds another man can defeat".
I don't think all the folks will be sheeple. We were not for Jab Juice and its additives ( OBTW: less than 20% of the JABBED have taken any additives).
 
i'm still trying to figure out something:

if i took out a loan in USD and find myself, one day, unable to obtain any more USD, how will I be able to pay this debt off?

and if i don't agree that our contract was to be payable in any other form of fiat, whether physical or not, where will that leave the debt???

how can this be enforced in a court of law?
 
Buck said:
if i took out a loan in USD and find myself, one day, unable to obtain any more USD, how will I be able to pay this debt off?
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The gov will change the definition of "US dollar" to include the new digital dollars.
.....and then at some point change it again to exclude paper US dollars.
 
tenthamendmentcenter.com

Legal Tender Laws and the Constitution | Tenth Amendment Center

Introduced in South Carolina legislature is House Bill 4501 (H4501), which if passed would make Gold and Silver Coin Legal Tender in the state. Cited as authority in the legislation is Article I, Section 10 of the Constitution and the principle of reserved powers under the 10th Amendment.
tenthamendmentcenter.com tenthamendmentcenter.com

If you want to enter a contract with another party and specify a specific medium of exchange, you can do so, but you better get it in writing if you want to be able to enforce the agreement in a court.
 
Joe King said:
The gov will change the definition of "US dollar" to include the new digital dollars.
.....and then at some point change it again to exclude paper US dollars.
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understood

but the contract part is the part they're going to destroy

the part where a contract is actually a private two-party agreement, where both sides agree to the terms, not just that one side puts out an idea and away it goes, but rather where both parties agree to all legal ramifications


imho, this has been written into all mortgage contracts and credit card contracts since 2008 approx

any changes you receive about your card / account has these changes inside them and by me using their product, i'm agreeing with their changes

and even though, this 'implied consent' is what they're counting on to keep that debt package alive, idk if it's actually legal or not

that probably depends on the judge you have to stand in front of...


idk...
 
Buck said:
i'm still trying to figure out something:

if i took out a loan in USD and find myself, one day, unable to obtain any more USD, how will I be able to pay this debt off?

and if i don't agree that our contract was to be payable in any other form of fiat, whether physical or not, where will that leave the debt???

how can this be enforced in a court of law?
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With all that has happened in just the past couple of years - do you still believe there is a "rule of law" that the courts would uphold?

Case in point - considering there were over 100 lawsuits filed related to the 2020 election and the various violations of law that occurred - many of which were exhaustively documents - while still others were blatantly illegal on their face - how many evidentiary hearing were held - in total - on ALL of the lawsuits combined?

ZERO.

The rule of law is dead. They will issue whatever rulings, or edicts or whatnot as needed in order to provide sufficient legal veneer to transpose existing debts into the new currency...

Still doubtful?

Remember MERS? How even though the law throughout the land was for land titles to be processed at the local clerks offices at the county level - the banks decided that in order to facilitate the derivatives market in mortgages - they needed an electronic recording system. As a result - even though those transactions were all illegal on their face - and should have been declared null and void - to this day we still see mortgage payments being made to entities with no proof of title at county clerks around the US.

The law in this country is dead.
 
Strawboss said:
When they have fully implemented their "reset" - each of us will face a very tough choice.

Comply with the new regime for the sake of short term comfort...or - resist and eat bugs while being hunted until you die. Thats where things are headed folks...personally I have already made my choice (and I pray I will be deemed worthy to escape what is coming on the earth).
Click to expand...
They have a little problem.

Once they achieve the level of "control" they crave...they'll essentially sap the motivation and energy out of their control-ees. Slaves don't work hard. Prisoners only work in the hope of eventual freedom. When you reduce man to a beast of burden, he shows no more inventiveness than other such beasts.

This is a complex system and keeping it up will require a legion of highly-skilled, highly-trained, highly-MOTIVATED technicians.

You feed them bugs and forbid them any benefits of modern life, and they'll work just enough to avoid being beaten.

And a small army of Elites won't keep the system going. Even giving half the population, Elite status, and ability to buy meat and live in decent housing...leaves the others outside, angry and wrathful. Or perhaps destroyed, beaten...going through the motions.

I don't think it will work. I don't doubt they'll try; but what it's going to lead to, is a complete collapse.

And I just hope that that collapse comes quickly, gets us past it.
 
Strawboss said:
With all that has happened in just the past couple of years - do you still believe there is a "rule of law" that the courts would uphold?

Case in point - considering there were over 100 lawsuits filed related to the 2020 election and the various violations of law that occurred - many of which were exhaustively documents - while still others were blatantly illegal on their face - how many evidentiary hearing were held - in total - on ALL of the lawsuits combined?

ZERO.

The rule of law is dead. They will issue whatever rulings, or edicts or whatnot as needed in order to provide sufficient legal veneer to transpose existing debts into the new currency...

Still doubtful?

Remember MERS? How even though the law throughout the land was for land titles to be processed at the local clerks offices at the county level - the banks decided that in order to facilitate the derivatives market in mortgages - they needed an electronic recording system. As a result - even though those transactions were all illegal on their face - and should have been declared null and void - to this day we still see mortgage payments being made to entities with no proof of title at county clerks around the US.

The law in this country is dead.
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A friends brother took them to court. Did it all pre se too and beat them. Now has 2 houses with no mortgage. Only problem is he can't get a clean title anymore but he and his family can keep them forever. Probably won't be able to sell them though.
 
Cigarlover said:
Only problem is he can't get a clean title anymore but he and his family can keep them forever. Probably won't be able to sell them though.
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I bet he could rent them if he wanted. Maybe even get fancy and create a rental company for that purpose, and maybe sell that rental company. On getting a "clean title", maybe a sharp lawyer could work something out with the legal angles of abandonment, adverse possession, and quit claim to establish something the county recorder would accept.
 
The Federal Reserve's digital payments system, which it promises will help speed up the way money moves around the world, will debut in July.

FedNow, as it will be known, will create "a leading-edge payments system that is resilient, adaptive, and accessible," said Richmond Fed President Tom Barkin, who is the program's executive sponsor.
...
Some Fed officials say the program even could supplant the need for a central bank digital currency.
...
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www.cnbc.com

Long-awaited Fed digital payment system to launch in July

FedNow creates "a leading-edge payments system that is resilient, adaptive, and accessible," said Richmond Fed President Tom Barkin.
www.cnbc.com www.cnbc.com
 
The **OTHER PART** of this development, is...this is a challenge to commercial banks' business.

Not just their business model - their BUSINESS. If the Fed has a program that runs settlements, probably by using tokens in the background, because that's their real aim...there's no need for commercial banks to move money and settle accounts.

This is a threat to the banksters' power.

I never thought I'd cheer on the banksters; but - as Tom Luongo has been saying for a time - Jamie Dimon, especially, is NOT gonna be quietly cashiered out. The white hat fits poorly on Dimon and his ilk; but they may be our final line of defense against this digital prison they're planning.
 
Press Release from the Federal Reserve about the launch of their Central Bank Digital Currency which will be called "FedNow."
Certification of participants is slated for April, with a full launch in July.
Notably, the press release never mentions the words "digital" or "crypto."
federalreserve.gov/newsevents/

Federal Reserve announces July launch for the FedNow Service
The Service will Debut with Financial Institutions and the U.S. Treasury on Board CHICAGO – The Federal Reserve announced that the FedNow Service will

www.federalreserve.gov

 
What are the issues with the US Government going into direct competition with the private sector in regard to these virtual payment systems?

Obviously Paypal and Venmo are in trouble but anything else I'm missing?
 
idk but would you rather have the government in possession of more of your personal data or would you rather have a private company in control of that information?


like sliding down a sharp double edged knife while coated in lemon juice, either side you choose, you lose
 
jrog100 said:
What are the issues with the US Government going into direct competition with the private sector in regard to these virtual payment systems?

Obviously Paypal and Venmo are in trouble but anything else I'm missing?
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Postal efficiency.
 
Sal (SalivateMetal) has an interesting look at this. Frontrunner to CBDCs?

ALERT! The END Of Money As We Know It Is Coming In DAYS! IT IS SCARY!​

Mar 19, 2023


14:29
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For a good while I've thought a one world currency was possible. Never thought it would happen in my lifetime. Been rethinking that lately.
 
searcher said:
For a good while I've thought a one world currency was possible. Never thought it would happen in my lifetime. Been rethinking that lately.
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It's been "possible" for awhile. Implementation of such a massive change requires an emergency. Just like how 9/11 was an excuse to usher in mass surveilance, or how the great depression was used as an excuse to steal the Peoples real money.

None of it can be done in so-called "normal" times.

If they came out with their cbdc in good times, they'd have to incentive its use and people would have the choice of using it or not, and that might allow it to fail. In an emergency however, they could just say that's how it's gotta be. Accept it and use it, or starve. Kinda like what happened in '33. Ie: they coulda kept their gold and hid it for later, but people needed the spending power at the time in order to merely survive. So they gave up their real money in favor of fiat.
 
Joe King said:
It's been "possible" for awhile. Implementation of such a massive change requires an emergency
Click to expand...

Been thinking about this a long time now. Wonder what form that would take. Monetary crisis? Health crisis? Political unrest? A combination of all three? Mayhaps something not of this world? Really interesting when you sit down and think about it.

As for a political crisis...............we may be heading for one shortly.
 
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