As discussed yesterday, the purpose of FedNow is ingenious, at least from the exterior based on what the government is going to tell you.
If you haven’t noticed through the Covid era, big businesses became for the most part cashless.
In doing this, they’ve incentivized the public to download their app.
Through a series of promotions that they pump through the app, they’ve essentially eliminated cash transactions.
When you pay with Apple Pay or one of the 50 million other payment apps, you’re basically doing what the government wants – a cashless society.
Many ask why would the “G” want a cashless society.
And the answer is simple, TAX REVENUE!
At the moment there’s approximately $5.8 trillion dollars in PAPER CASH circulating throughout the United States.
The “G” knows the guy in your small town pizza place that’s been running his business out of his left and right pockets for the past 30 years, is likely only putting in the back the absolute least amount possible.
He probably has a few lumpy mattresses filled with cash from the past 30 years. He lives under the radar. He buys and sells everything in cash.
Almost never paying taxes.
This is unacceptable to the “G”, they need their slice of the pizza guys’ revenue and the way they’re going to do it is by creating a society where cash as we know it becomes unusable and completely worthless.
It’s not just the pizza guy, I’m using that as an example.
But it also stops employers from paying their employees under the table, which will boost payroll taxes, Workman’s compensation, etc…
It’s going to increase the cost of the pizza guy’s overhead substantially, so much so that you and I will be paying $5 for a slice of pie soon.
But it won’t just be your pizza guy. It’ll be your landscaper. It’ll be your local construction guy. You can expect their cost of existence to increase – you and I will be paying for it.
When money is moved through FedNow, it would go directly from the consumer, to the Fed, then cleared to the vendor or business.
The “G” gets to monitor every single red cent you’re earning and spending.
It greatly increases their ability to track and audit you without you even knowing. The privacy you have when transacting will no longer exist.
This is it, this will be the push towards centralized banking across the entire globe. There won’t be currencies at some point, rather a newly defined way of receiving and paying compensation.
Complete government control over your finances. At any point in time FedNow could decline your ability to accept payment or your ability to send payment.
The government will know if you’re shopping at a gun shop or at a kinky sex shop and anything in between.
While the benefit is instant settling, the downside is We The People have lost control and privacy over our finances…
I don’t know how to fix this, I just know how to help you perform in the market and if you’d like to learn more, click here to watch my free training video.