The quiet part out loud. Money has a new purpose over at the Federal Reserve bank. Social control.

[smokingman]

Not a joke,and no they did not want this paper made public.

"The main economic attributes of a technically effective currency rests on three functions: as a unit of account, a store of value and as a medium of exchange."

But there is a fourth function of money: as a means of social control.

Zerohedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

 

[BigRed]

Not a joke,and no they did not want this paper made public.

"The main economic attributes of a technically effective currency rests on three functions: as a unit of account, a store of value and as a medium of exchange."

But there is a fourth function of money: as a means of social control.

Zerohedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

Centralizers are about nothing other than control.

To Hell with them.

 

[planedriver]

Without composing a novel length reply, I’ll throw this on the table.

The FDIC currently has reserves amounting to 0.03% of “insured” funds on deposit in banks nationally. That means if a large (not even mega bank) goes insolvent FDIC can’t cover the loss.

Since banks can go insolvent any day. As long as it’s Friday (think about that). If there is a large bank failure a reasonable expectation is, on the following Monday the new “crypto eagle” will be announced. Going along with the crypto eagle announcement will be a grace period of 60 days to surrender your cash in trade for the crypto eagle.

All will be well and the American subjects will rest comfortably knowing their rulers have once again saved them from certain wreck and ruin.

 

[BigRed]

Without composing a novel length reply, I’ll throw this on the table.

The FDIC currently has reserves amounting to 0.03% of “insured” funds on deposit in banks nationally. That means if a large (not even mega bank) goes insolvent FDIC can’t cover the loss.

Since banks can go insolvent any day. As long as it’s Friday (think about that). If there is a large bank failure a reasonable expectation is, on the following Monday the new “crypto eagle” will be announced. Going along with the crypto eagle announcement will be a grace period of 60 days to surrender your cash in trade for the crypto eagle.

All will be well and the American subjects will rest comfortably knowing their rulers have once again saved them from certain wreck and ruin.

Is it time yet?

 

[76Too]

 

[planedriver]

Is it time yet?

Lol. Don’t I wish I had that crystal ball. It’s down to a matter of when at this point. Plain horse sense says a reset is necessary to correct decades of free wheeling.

 

[smokingman]

In short she wants to do away with private banks,and put your checking account at the Federal Reserve. She is the lefts leading expert. She was of course raised in the actual Soviet Union,born in 1966 here https://en.wikipedia.org/wiki/Kazakh_Soviet_Socialist_Republic

No real shock she fit in perfectly at Cornell Law school in 1992(after graduating from Moscow State University in 1986 and becoming a proud member of the Communist party,even recieved the parties gold medal for academic achievment).

Thankfully Republicans and a very few democrats killed her Biden nomination as comproller of the currency.

Is It Time For Public Checking Accounts at the Fed?

Does the SVB disaster suggest it's time for a public option?

www.bloomberg.com

Saule Omarova - Wikipedia

en.wikipedia.org

Senator John Kennedy said to her, "I don't know whether to call you 'professor' or 'comrade.'

 

[BigRed]

They keep asking "Who needs an assault weapon"?

They seem hell bent on getting an answer.

 

[Mij]

Without composing a novel length reply, I’ll throw this on the table.

The FDIC currently has reserves amounting to 0.03% of “insured” funds on deposit in banks nationally. That means if a large (not even mega bank) goes insolvent FDIC can’t cover the loss.

Since banks can go insolvent any day. As long as it’s Friday (think about that). If there is a large bank failure a reasonable expectation is, on the following Monday the new “crypto eagle” will be announced. Going along with the crypto eagle announcement will be a grace period of 60 days to surrender your cash in trade for the crypto eagle.

All will be well and the American subjects will rest comfortably knowing their rulers have once again saved them from certain wreck and ruin.

We have had “bank holidays” in the past. It can happen, Mon. thru Fri.

Crypto Eagle, the next step, already planning for electric money.

Result, ALL of your financial transactions will be under/monitored by the .gov giving them (the gov) complete control of your finances. Close and freeze act’s. debt, credit etc. JMO. CYOA.

 

[Mij]

Decentralized cryptos bad, FedNow and digital dollar good - Economic Report of the President

The Biden Administration released the latest “Economic Report of the President” on Monday, and for the first time, the report contained a dedicated section on digital assets.

www.kitco.com

UAE central bank moves forward with CBDC implementation

The Central Bank of the UAE has announced that it will progress to the next phase of its CBDC strategy, which includes testing for domestic and cross-border payments.

www.kitco.com

FYI

 

[cg21]

Scary stuff. What would one do (besides comply) if they gave a grace period for cash? They really have the average joe over a barrel.

Would it be reasonable to think certain states wouldn’t comply or am I way off base?

 

[Mij]

Scary stuff. What would one do (besides comply) if they gave a grace period for cash? They really have the average joe over a barrel.

Would it be reasonable to think certain states wouldn’t comply or am I way off base?

Mass refusal to work for electric money. Mass refusal to sell commodities for electric money. Mass refusal to deal in any electric money transactions. As I said upthread. CYOA. Get ready the day is coming. Remember the 3 b’s. (J.W. Rawles) reference


edit, of course there is always the ballot box, but the PTB have the Gen. Pop. So divided we can’t even agree what time of day it is.

 

[Leadeye]

The "reissuence" of currency is an old trick that's been used through history to enrich those in charge.

It's essentially another way to devalue/inflate the currency.

 

[Gingerbeardman]

We already work for electric money. It's all just 1s and 0s on a server somewhere, just not centrally controlled. Ever try to withdraw any amount of cash? Call ahead, they don't have enough sometimes. Also, the new rule where they ask you what you're withdrawing the cash for is so wild.

 

[Magyars]

Gold hit 2000 today. First time in around 15 years....

 

[smokingman]

Gold hit 2000 today. First time in around 15 years....

Gold returns to $2,000 as dollar descends into post-Fed abyss By Investing.com

Gold returns to $2,000 as dollar descends into post-Fed abyss

www.investing.com

That is the headline on investor.com a very liberal site politically(and also an exchange for a digital currency...so some of the left is leaning to no on a digital currency).

 

[planedriver]

Scary stuff. What would one do (besides comply) if they gave a grace period for cash? They really have the average joe over a barrel.

Would it be reasonable to think certain states wouldn’t comply or am I way off base?

Interesting question. I wonder how interstate commerce would be handled? Then what’s the exchange rate? Short story is we are going to be bent over.

 

[HoughMade]

So....we've never heard of John Maynard Keynes? This is hardly new.

 

[Leadeye]

I suppose the government wants electronic currency to speed up what it wants to do with it. They could come up with "new dollars" now and have everybody exchange their old currency for newly printed stuff, but that would be time consuming. In revolutionary France the value of the assignat would fall by 5% just between the time of printing and issuance.

I wonder whose pictures would be on the new money?

 

[BigRed]

We have had “bank holidays” in the past. It can happen, Mon. thru Fri.

Crypto Eagle, the next step, already planning for electric money.

Result, ALL of your financial transactions will be under/monitored by the .gov giving them (the gov) complete control of your finances. Close and freeze act’s. debt, credit etc. JMO. CYOA.

Who needs precious metals?