Watch what happens to all those crytpo currencies once they do this.

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https://www.nasdaq.com/articles/fede...ncy-2021-05-24

(RTTNews) - Goldman Sachs (GS) Chief Economist Jan Hatzius believes that it is possible for Federal Reserve to come up with a digital currency. Hatzius's comment was preceded by Federal Reserve CEO Jerome Powell who explained the requirement of a parallel currency in a presentation on May 20.

Powell said, "The effective functioning of our economy requires that people have faith and confidence not only in the dollar, but also in the payment networks, banks, and other payment service providers that allow money to flow on a daily basis...Our focus is on ensuring a safe and efficient payment system that provides broad benefits to American households and businesses while also embracing innovation."

However, Hatzius doesn't think that this will happen anytime soon but assumes that if Federal Reserve completes the research on the subject, the introduction of the currency will not hamper the dollar. " "The Fed I think partly because of the pre-eminent international role of the dollar is going to be slower than other central banks in introducing a digital currency. And there are quite a number of central banks globally that are hedged at this point and the Fed is still in the research stage. But ultimately, I think there is an appetite for introducing a digital currency...I think we will move cautiously because there is no appetite on the part of the Fed or other central banks to really potentially undermine the current payment system and financial system." added Hatzius in an interview with Yahoo Finance.

It becomes regulated, right?

The fed is a (unconstitutional) subcommittee of congress.

I’m not too familiar with crypto, but I understand it’s lack of regulation is one of its most appealing characteristics. I think anyway.

Isn’t crypto a worldwide entity? Would that be like the fed trying to regulate the Euro?

I saw an advertisement the other day for visa crypto cards.

Of course these major institutions are going to try to get a cut. They are just going to end up destroying it though.

Sounds like Goldman Sachs is holding some bags.

signal to long the DXY. while all the normies are screeching on about inflation crushing the dollar, the Fed is actively stacking calls

They are prepping for the global debt jubilee and in the long run will likely want a single global virtual currency that is fully trackable for the safety of the children

The US is not acting like a country that cares about the future of the US Dollar.

This^

It’s inevitable that there will be a single global currency.

Most likely outcome IMO. Though there could be some smaller currencies they likely will be stomped out quickly if they aren't backed by entities with real teeth; like a few hold out countries or potentially some global corporations.

If China doesn't want to join a currency cooked up by the Western countries they have the power to hold out. They already have a digital yuan based on smart contracts and latest speculation is they could use Ethereum.

But who knows, maybe we will all be using the digital yuan.

A growing part of me feels we would be better off if China dominates despite their current distasteful ugly ant colony attitude towards humanity. There's a slim but better chance of them eventually clamoring for individual rights and having a decent culture than there is for the West. The Chinese still have the healthy will to live and don't feel ashamed for wanting to be strong and successful.

The West is a festering corpse by comparison. Ill take the human rights atrocities and my own demise as long as I can ensure that this self-hating yet self righteous *******ry culture in US is crushed and everyone who is responsible for the degeneracy suffers immensely before being erased from the earth. Just thinking about the current sad state of American whites makes me want to vomit and then drown myself in it.

China has done some truly atrocious stuff. It is looking like their one child policy which was successful for them in the short-term may be pretty disastrous in the long-term. But they know it and have switched up and begun promoting two children per couple.

Can collectivism conserve humanity? Will the lack of individualism equate to lack of critical innovation?

Thread w/clip about how humanism is being torn down by tribalism from both the extreme left and extreme right:

https://forum.obnoxiousbrutes.com/showt...post1639902223

They also talk about the illusion of separation [idea that you can wall yourself off from other humans and survive]. Either we overcome the Tragedy Of The Commons or all of our sheep starve.

It will inevitably become one common currency amongst everyone. We are already switching to digital payments on everything whether it be a credit card, phone, etc. Only a matter of time before they just combine everything into one. Having individual currencies made sense, but now as we no longer "see" cash as often, who tf cares? Would likely make it easier to trade and send money back and forth.

Crypto, albeit a cool concept, doesn't have much weight as a long term solution to me. All its going to take is one major terrorist attack funded by crypto to make everyone outlaw it and make it illegal to own. Either that, or the economy crashes so bad, that everyone cashes out for cold hard cash and it drives it down to zero. No one is going to accept Bitcoin when there's a massive shortage like that. It's curious to say the least, but I'll guess we'll see what ends up happening.

once regulated, peer to peer transactions will increase as will values - econ 101. See other chit countries that tried that like india, turkey, etc. And yes, GS (and other banks) are holding bags and they are reportedly running tests off the AAVE protocol

For those questioning the utility, you're not gonna make it. ded fkn srs. This is the first time where you are your own lender, bank and now with smart contracts can sell assets like your house with no middleman also NFT paperwork like car registrations. A few clicks versus using middlemen. The future is bright.

we are about to see Gresham's law in action. This is economics 101 so they can’t possibly be that ignorant. They know what they are doing, they are quite literally trying to wreck the dollar

What was monetary policy?

Remember 2008? The EU suffered major stress with multiple economies all trying to function with a single currency/monetary policy. I believe that was the spark for Brexit.

If we have one monetary policy for all countries = single currency then I expect that while living standards may improve in presently poor countries that are relatively wealthy in population and resources we will see them drop in presently "first world" countries.

You will own nothing, and you will like it.

only one currency = single monetary policy = world government

As of yesterday - its now a 3 child policy. Srs.

it sdaid digital currencies, because people will use them exactly as they do now... not crypto currencies, which are worthless tokens traded on unreg exchanges, based on irrational hype and ponzi pumping and dumping to earn USD, not to store as Gold 2.0.. LMAO (which goes against its white paper as well)

lol fedcoin

unlimited supply

just click a button on a computer to print even more fedcoin

wait wut?

Repped. They have major catching up to do.