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Judy Kay

12 Months Ago

Fed Now Digital Dollar

The Federal Reserve is rolling out its new digital dollar, Fed Now, April 1, and will be in full production by July. I gather it is planned to replace the fiat currency so I wonder what impact that will have on our account with PayPal and if there will be alternatives,

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Val Arie

12 Months Ago

I have seen nothing about this - links please.

 

Bill Tomsa

12 Months Ago

Is this a form of cryptocurrency?

Like VIVA this is first I’ve heard of this.

 
 

Alison Frank

12 Months Ago

It appears to be a payment system, not a digital dollar. Here's the information directly from the Federal Reserve:

https://www.federalreserve.gov/newsevents/pressreleases/other20230315a.htm

 

Donna Mibus

12 Months Ago

It IS a digital dollar, but will be backed by the US Federal Reserve https://www.investopedia.com/us-cbdc-6740586

I don’t see why this would have any bearing on our PayPal accounts.

 

Alison Frank

12 Months Ago

FedNow, which launches in July, is a service, not a digital currency. It is a payment system.

Here is information about possible digital currency (Central Bank Digital Currency, CBDC) directly from the Federal Reserve:

https://www.federalreserve.gov/central-bank-digital-currency.htm

 

Judy Kay

12 Months Ago

We’ll see! Let’s hope; it was presented as a system that will forever change the way you spend your money; I’m hoping this is not a “ soft rollout” that eventually have “ if not already replace our existing dollar that is compromised!

 

Alison Frank

12 Months Ago

Well, the Rumble link appears to have misinformation about what FedNow actually is. The description on the link states, "In three days the federal reserve begins rolling out the new US digital dollar rollout program." That is not the case. It will begin rolling out the FedNow program, which is a service, not a digital dollar or "CBDC."

 

Lisa Kaiser

12 Months Ago

I just did my taxes on Turbo and one of the questions was did I own or profit from NFT or Crypto something. Anyhoo, that question was the first ever.

 

Judy Kay

12 Months Ago

I would question the fed now link before questioning the rumble one Catherine Austin Fitts had been warning about digital currency for a long time, urging people to use cash ! Just so you know the federal reserve is not government; it’s a private organization

 

Judy Kay

12 Months Ago

I’m closing this before it gets closed

 

This discussion is closed.