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Latest updates on the U.S. effort towards a digital dollar

Mar. 03, 2023 5:21 AM ETMA, AXP, BAC, JPM, GS, GPN, COF, FI, ADP, PAYX, FIS, MELI, V, GDOT, SQ, COINBy: Yoel Minkoff, SA News Editor268 Comments

Digital Dollar. Cube Concept

BlackJack3D/iStock via Getty Images

The crypto world has taken a beating since the FTX disaster, which reverberated through the entire system in recent months, and this week witnessed a solvency crisis at crypto-focused bank Silvergate Capital. However, Bitcoin (

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Comments (268)

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dhughes327 profile picture
Whether digital or not, the US Dollar is issued by the US Government and is completely fiat and like bitcoin has no intrinsic value and is only worth what the popular masses thinks it is worth. Start moving as much as you can to gold, silver, corn, wheat, oil, farmland, lead, and brass before the masses wake up.
“FedNow does not give the central bank outright access to consumer bank accounts or the ability to control transactions. In theory, it could make it easier to do that”

This is laughable. They can and will absolutely do that.
IMO--there are ways around things.

What happens if they start turning off retail purchases. Now the merchant loses out.Economic impact? Imagine potential lawsuits.

Credit ratings, daily economic activity.Who is really holding the power ?

How successful has big brother been currently monitoring gun sales, background checks etc. I worked in state govt 25 yrs, you can get buried in info and can't find a way out. Contrary opinion, my 2 cents.
okeedoke profile picture
Teeka Tiwari says the right crypto are about to explode and the wrong ones are
going down and a lot money is going to be lost and made.
okeedoke profile picture
@SlowHandLuke I know TY
SlowHandLuke profile picture
@okeedoke I wasn't familiar with this clown, so thanks for the heads up. I bet he and BitBoy are buddies, lol.
I worked for the federal government for 36 years. When I began we received an actual pay CHECK every two weeks. Then the idea of direct deposit was brought forward and adopted. At first benefits of security, convenience, economy, etc. were pushed to entice employees to accept the plan.
Then followed a mandatory acceptance by any new hires. The strong arming became gradually heavier until one day a pervasive notice came to all, “if you expect to continue to be paid you will accept and sign up for direct deposit”
I write this as a reminder- it begins as a “good idea” with numerous benefits and values listed by the proponents. Pressure then begins subtly at first but gradually increases in intensity until one is forced to comply. Conceivably a similar path could follow here: you comply with government directives- or else —- your electronic funds end with a push of a button
okeedoke profile picture
@is that all You wrote far better than me. Hit it on the head..
@is that all
As I commented earlier just another step to the great reset and then the mark of the beast.
@lynn52nav Would also note that digital would enable the government to continue its disastrous deficit budgetary policy that will eventually bankrupt the country.
mpcascio profile picture
It’s nothing but a power grab. Resist it and throw out of office anyone who endorses it.
@mpcascio the persons behind the effort can’t be grown out of office. They manipulate those who are in office.
mpcascio profile picture
@is that all You're probably right but we must persist in our efforts not to become China. There are so many young people who just don't have a clue.
@is that all Trump knows who they are, and in a second term he would be able to do something about it. That is why they are working tirelessly to stop him.
smokyy profile picture
Bank deals will keep coming just slower!
OPY has to be in play keep, EVEN WHEN MARKET turns, it goes up or holds, it has never traded this way this year closing at the highs many days the past few weeks, other than the one big sell-off day when they announced they will be moving out of the Russell 3000 index do to class B voting share rights!
OPY is buying these shares all day ,long at these levels for good reason it is free money to them so far under book and book is going $1 ever month at the current time.
BUY all you an today $43-$44 you will be well rewarded!
Up 5% from the low today.
It seems like all the sellers are gone, and all investment banks are breaking down, but OPY is moving faster up and up today than all the others; a deal would be $80+. Maybe $95 now with new highs in sight.
Really OPY is still the best buy in the market by far. It could hit $56-$66 on fundamentals soon, in this crazy market for any reason, but the main one it is cheap.
There seem to be no sellers today , and significant volume, many days this week and last.
Stagflation is coming hard and many bubbles in place today along with many Fraud’s I would guess!
So keep hedges if you are very long!

Douglas Hughes
And the good news for the Dems is that if they don't like your social media posts, or you protest their policies....they can turn off your digital dollars. I mean, Trudeu locked the bank accounts of the trucker and anybody that brought them food or gas or other supplies. It will be so much easier when they can just deactivate your money.

You want to buy a gun? Want to donate to a Republican? Sorry, your digital dollar will not work for those things...it is against the policies of the Fed.

Once they have complete control of your money, they have complete control of YOU.

Just say NO to the digital dollar
Politics is entrepreneurship for those that prefer power to money. CBDC's are just the latest tool for these "entrepreneurs" to grab power.
Wait a sec, I came here for a conversation about GPN. I like it an 11 PE and 11% payout ratio. With 4 years dividend raises, what are you expecting this yr? The 4 yr increases have been impressive.
Why is government involved in money? Like the separation of church and state, money also needs to be separated from it.
SuperPac profile picture
You live in the age of tech-enabled uber-centralization of power. Its justifying narratives are being preached to you from all the official pulpits. The point to ponder is how much will you give up and what institutions will be made redundant. I mean, what will be the point of a V or an MA type institution after this is live fully in a few years....
@Peetero. The simple question is: Do you trust the government with your money? I am not for a system that lets the government survey every dollar one spends. The $600 dollar reporting requirement to the IRS under the American Recovery Act is already an invasion of our privacy!!
@obiers "Our records show you voted for Trump. That is against our community standards. Your digital dollars have been turned off"
I'm (only) 68. I pity all those who are going to outlast me, or who are yet to arrive.
reallyimagdgy profile picture
@Pabst I hope this never comes! But (only) at 80, this is total overreach by the govt. and it really blows!!!
CBDC sounds like a load of hockey-doody. I’m looking for a new country. Bye
craftbrewinfo profile picture
Government control here we come
We are some years away from this being a reality. We are looking at a NEW payment system. Something that Bitcoin is not. The big question will be how will these be used? Notice the authors are wondering about "retail" vs. some other commerical forms of payments. Who, how and what kind of rails will be formed for managing the payment system? It is hard to imagine the "retail" side of this, because of the size. But a commerical system being run over adapted SWIFT rails might be a way to start.
cavediver profile picture
@cyaldezian2 You fail to realize the objective of government in today's world
@cyaldezian2 Should we be relying on a group of people/organizations that have delivered the financial mess we have today. Shouldn't we learned from 1929 and 2008 how do deal with banking and money? Modern economic theory was a myth cooked up by the Progressives. Time to jettison policies pushed by them.
Do you want bombs mailed to you? cause that's how you get em
Agbug profile picture
The vast majority of us are already like cows in a field with the pre-requisite ear tag waiting for the rancher to come fill the feed bin. The best most of us can do is stick our heads between the barbed-wire fence once in a while. Thing is, most prefer it that way over being free-range.
1. Will take many, many years of ‘con-critter’ legislative ‘work’.
2. Even if implemented today…would simply REPLACE Bitcon.
3. Bitcon and its ilk are still doomed….
okeedoke profile picture
@Blowback2 Keep hearing Bitcoin going to die but it just keeps plugging
along. People put money into crypto to keep governments big nose out of
their finances. One of the reasons.
03 Mar. 2023
@Blowback2 CBDCs are the exact opposite of bitcoin. CBDC is just a totalitarian surveillance tool to to have a record on everything you do and freeze your money asap if you don't obey the government.
@okeedoke When a security falls $2000 overnight ( over 11%) Is that the Plugging Along part??
The expansion of government is inversely proportional to individual liberty which was the entire point of this country.
SuperPac profile picture
@dstb That ''country'' hit its expiry date decades ago.
I would remind everyone that we have national elections every two and four years and issues such as this should be brought front and center for consideration.
@linkdonald i doubt most americans would even comprehend what a digital dollar is or how it would affect them

might i remind you of the famous ross perot debate with al gore where perot stated that passing nafta would essentially gut the american middle class and cause widespread poverty. And who did the public vote that year? Bill clinton
@Finding Your Retirement Perot was a man who was widely mocked at that time. Truth is, that man was a prophet. He saw the writing on the wall far more clearer than any of those fools running for president. How I wish that man would have won the presidency.
okeedoke profile picture
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