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‘FedNow, the Precursor to the Digital Dollar CBDC, Has Launched’


COGwriter

FedNow apparently has been launched:

The Federal Reserve has officially announced the launch of a new instant payments service that is designed to modernize the way bank funds are transferred in America.

July 21, 2023

Here’s what you need to know.

  • What is FedNow? FedNow is a new system for making nearly instantaneous payments to bank accounts. The system was first announced in 2019 and is meant to modernize the way payments are made. If a bank adopts the FedNow service, payments between businesses and individuals could be transferred in seconds instead of the days it takes now. In many other parts so the world, this type of near-instant money transfer has existed for years.
  • How will FedNow help me? If you’re an individual, you could now receive your paycheck from your employer seconds after they initiate the funds transfer from their bank to yours, instead of the days it takes now. FedNow will also enable you to send a payment—such as one for an online bill for your electricity—in seconds to the energy supplier. This means that even if you forgot to pay a bill until the last minute, FedNow could now ensure that your payment reaches the company before the due date, saving you money on late fees and preventing your power from being switched off. …
  • Does FedNow cost money? No. The service is free to use for consumers. But as Reuters notes, it’s not yet clear if banks will somehow pass on the costs of adopting the service to consumers.
  • Does FedNow only work during business hours? No—and this is a big benefit of the new service. Currently, if you send money or get sent money, the transfers usually only go through during business hours. But FedNow operates 24 hours a day, 7 days a week. https://www.fastcompany.com/90926676/fednow-launch-instant-payment-banks-list-paycheck-seconds-federal-reserve

Although the US Federal Reserve is saying that FedNow is not related to Central Bank Digital Currency (CBDC) some have a different view.

While FedNow is not actually replacing cash, it likely will reduce its use. Furthermore, things like FedNow mean that governments cannot only monitor what you buy or sell, they can also prevent you from being able to buy or sell.

Yes, there are concerns about FedNow. A reader forwarded me a link to the following:

FedNow, the Precursor to the Digital Dollar CBDC, Has Launched

July 21, 2023

The Fed has stated that FedNow is not intended to kill or replace other money transfer options like Venmo, Cash App, PayPal, or Zelle. Instead, it is designed to work alongside the current systems built by the private sector. Still. FedNow could rapidly become a game changer. Money.com notes this FedNow is launching soon. FedNow was scheduled to begin formal certification of participants of the program in April 2023, with a formal launch planned for July 2023. It will operate on a 24-hour, 365-days-a-year basis,

This new system differs from consumer-facing apps which allow instant peer-to-peer payments, FedNow won’t be an app per se. It’s more designed to allow banks to move money instantly. More than 50 financial institutions are “early adopters” of FedNow, some of the notable banks that will use FedNow include JPMorgan Chase, Wells Fargo, and Peoples Bank.

FedNow will only be available to customers of the banks that choose to implement FedNow. The Fed says all 10,000 or so banks that are regulated by the Fed can join but will not be required to do so. The claim is that, for everyday people, FedNow could make managing money much easier and faster. It would allow you to pay your mortgage bill on Christmas Day without worrying about it being delayed or late because of the holiday.

This also means that transferring money between, say, your checking and savings accounts at different banks could be done instantly. Even gig workers like Uber drivers could get paid immediately after each completed ride. It also means a record of every transaction that occurs will be put on “record.” In short “big-brother” will know everything you do, your preferences, and how you live your life. To many of us, this amounts to an invasion of privacy.  …

On May 11, the Fed announced the integration of Metal Blockchain into the FedNow Service. … FedNow is another step towards more control over the individual. …

FedNow truly seems to be a Trojan Horse to usher in a CBDC system. https://thelibertydaily.com/fednow-the-precursor-to-the-digital-dollar-cbdc-has-launched/

What about the USA and CBDCs? Notice the following:

Biden authorizes Fed to ‘explore’ digital currency

March 4, 2023 at 5:35pm …

Gatestone Institute reveals his agenda to create chaos in America’s economy.

Lawrence Kadish, who is on the board of governors of the organization, wrote that Biden’s “little noticed” plan appeared recently in an executive order.

In fact, “this order includes language that allows the Federal Reserve System to ‘explore’ the possibility of introducing digital currency into the United States,” he wrote. “This means that your cash becomes so much colored paper.”

He explained, “Under this new digital currency, any transfer of funds to family, friends, charities, or clients would be able to be tracked by the nation’s central bank that issued this virtual money. Big Brother will be in your wallet every hour or every day.”
His warning? “You will not be able to buy a stick of gum without a Federal Reserve computer knowing where, when, and to whom you just put down a buck.” https://www.wnd.com/2023/03/biden-authorizes-fed-explore-digital-currency/

While the USA looks at this, and may well do it. FedNow may be a precursor.

China already has a trial CBDC in place:

China’s digital yuan nears $250B transaction volume — Central bank governor

July 20, 2023

Nearly $250 billion worth of transactions have taken place using China’s digital yuan in the one-and-a-half years since the start of its pilot, the country’s central bank governor has claimed.

On July 19, People’s Bank of China governor Yi Gang told a conference in Singapore that its central bank digital currency transacted 1.8 trillion yuan as of the end of June.

Yi added there have been around 950 million transactions from roughly 120 million wallets since the digital yuan’s initial January 2022 rollout, leading to an average transaction amount of about $260. https://cointelegraph.com/news/china-cbdc-transaction-volume-nears-two-trillion-yuan

What about Europe?

Well, Europe looks to be further along than the USA in implementing a CBDC and various controls.

Regarding some of Europe’s digital plans, in January 2022, the Continuing Church of God (CCOG) put out the following video on our Bible News Prophecy YouTube channel:

9:03

EU to be ‘Sheriff’ of BitCoin & Digital Currencies

Will Bitcoin remain unregulated? The European Union does not think it should be and it released a paper titled “Proposal for EU Regulation on Markets in Crypto-Assets.” Christine Lagarde, president of the European Central Bank, earlier endorsed EU regulation of crypto and digital currencies. A Belgian declared that the EU was the “new Sheriff in town” to deal with the “wild west” of Bitcoin, blockchain, and other cryptocurrencies. The European Union now also has the European Public Prosecutor’s Office in operation, mainly to deal with financial matters? Will the Europeans end up controlling buying and selling associated with 666 in Revelation 13:16-18? Is Europe taking preliminary steps to do so now? Dr. Thiel address these issues.

Here is a link to our video: EU to be ‘Sheriff’ of BitCoin & Digital Currencies.

Yes, more digital currency use is coming.

The Bible says that a coming, totalitarian, European Beast power will control buying and selling.

Here is part of #13 of my list of 23 items to prophetically watch in 2023:

13. CBDC and 666

Notice the following prophecy:

16 He causes all, both small and great, rich and poor, free and slave, to receive a mark on their right hand or on their foreheads, 17 and that no one may buy or sell except one who has the mark or the name of the beast, or the number of his name.

18 Here is wisdom. Let him who has understanding calculate the number of the beast, for it is the number of a man: His number is 666. (Revelation 13:16-18)

This type of financial surveillance could not have happened during the time of the Apostle John as there was no real way to monitor many financial transactions then (despite the fact that ‘preterists’ believe this was fulfilled almost 2000 years ago, see also The Dangerous Rise of Preterists). The same was true for all the centuries that followed until the late 20th and now the 21st century. But now not only does the technology exist to monitor most financial transactions, the political will is there as well.

It will be a European power that will fulfill the above prophecy of 666 (watch Can You Prove that the Beast to Come is European?).

It will likely take computers aided with artificial intelligence to aid in the fulfillment of the scriptures in Revelation 13:15-18, as well as cyber-spying/monitoring. I do believe that cyber monitoring will be used by the European Beast, King of the North, 666 power. …

Knowledge and monitoring of financial transactions is greatly increasing.

Europe has claimed that it will be the dominant force in cryptocurrency.

While 2023 will not see a cashless world, expect to see more movements towards monitorable payments.

Expect to see more steps related to Central Bank Digital Currencies in 2023.

Are you paying attention to what is going on in the world?

Pushes towards digital currencies, totalitarian surveillance, digital passports, and travel restrictions are all consistent with the type of totalitarian controls that the prophesied Beast of Revelation will implement.

Yes, Europe will adopt some type of digital currency. The Europeans may even learn something from FedNow to assist them.

The 666 prophecies will be fulfilled.

Probably within the next decade.

Some items of possibly related interest may include:

23 items to prophetically watch in 2023 Much is happening. Dr. Thiel points to 23 items to watch (cf. Mark 13:37) in this article. Here is a link to a related sermon:  23 things to prophetically watch in 2023. Here is a related sermon in the Spanish language: 23 Temas para observar proféticamente en 2023.
Mark of the Beast What is the mark of the Beast? Who is the Beast? What have various ones claimed the mark is? What is the ‘Mark of the Beast’?
The Mark of Antichrist What is the mark of Antichrist? What have various ones claimed? Here is a link to a related sermon What is the ‘Mark of Antichrist’?
Europa, the Beast, and Revelation Where did Europe get its name? What might Europe have to do with the Book of Revelation? What about “the Beast”? Is an emerging European power “the daughter of Babylon”? What is ahead for Europe? Here is a link to a video titled: Can You Prove that the Beast to Come is European?
Must the Ten Kings of Revelation 17:12 Rule over Ten Currently Existing Nations? Some claim that these passages refer to a gathering of 10 currently existing nations together, while one group teaches that this is referring to 11 nations getting together. Is that what Revelation 17:12-13 refers to? The ramifications of misunderstanding this are enormous. A related sermon is titled Ten Kings of Revelation and the Great Tribulation.
Might German Baron Karl-Theodor zu Guttenberg become the King of the North? Is the former German Defense Minister (who is also the former German Minister for Economics and Technology) one to watch? What do Greco-Roman Catholic, Byzantine, and biblical prophecies suggest? A video of related interest would be: Karl-Theodor zu Guttenberg and Europe’s Future. Two shorter videos are also available: Blockchain, Karl Guttenberg, and 666 and The Middle East, Prophecy, and Karl Theodor zu Guttenberg.
Biden-Harris: Prophecies and Destruction Can the USA survive two full presidential terms? In what ways are Joe Biden and Kamala Harris apocalyptic? This book has hundreds of prophecies and scriptures to provide details. A Kindle version is also available and you do not need an actual Kindle device to read it. Why? Amazon will allow you to download it to almost any device: Please click HERE to download one of Amazon s Free Reader Apps. After you go to your free Kindle reader app (or if you already have one or a Kindle), you can go to: Biden-Harris: Prophecies and Destruction (Kindle) to get the book in seconds.

This entry was posted on Friday, July 21st, 2023 at 7:00 am and is filed under Prophecy.



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