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15
Federal Reserve Governor Says CBDC Risks Likely Greater Than Benefits (www.pymnts.com)
posted 2 years ago by Questionable 2 years ago by Questionable +15 / -0
Federal Reserve Governor Says CBDC Risks Likely Greater Than Benefits
Federal Reserve Governor Michelle W. Bowman said it’s unlikely that the benefits of a central bank digital currency would be greater than the potential risks.
www.pymnts.com
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– IGOexiled 3 points 2 years ago +3 / -0

The benefit of CBDC is that a sufficiently-sized EMP would wipe out everyone's debts along with everyone's wealth. It's like a Year of Jubilee forcefully imposed by the Sun God Himself.

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▲ 1 ▼
– wereonit 1 point 2 years ago +1 / -0

Wouldn't an EMP like that wipe out the current system? Bank deposits, debts, stocks, property deeds(?) are all digital.

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– IGOexiled 1 point 2 years ago +1 / -0

The damaging part is devaluing the paper cash. When there's no power, what do you use? Not coins and bills, we discontinued them and called them worthless.

OK

So we dug up a pallet of cash from a landfill to use during our EMP emergency. Cool, but what is a $1 worth? 1 dollar equals 1 cbdc at the time of impact? 1 cbdc as of the most recent system backup? As of last years audit?

Or is a dollar just worth what a dollar was worth before it went defunct? Okay but is that pre- or post-covid hyperinflation? Like are eggs $3, $9, or $800 a dozen? What if you go to the next town over, is a dollar still worth the same? Last word from the government is that they're valueless.

I think ruining the cash implies an enemy preparing us for EMP. Look at Venezuela though, EMP isn't even necessary with sufficiently inept puppets in office.

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– wereonit 1 point 2 years ago +1 / -0

If an EMP took out those computers, our water system, refrigeration, transportation, basically everything would be f-ed. Lack of coin and paper cash would be a small issue.

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– IGOexiled 1 point 2 years ago +1 / -0

The downside being, the fattest pig in the biggest suit will assert that everybody knows I basically owned it all, so during this period of blackout, I will continue to own it all.

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– monkeycat2010 2 points 2 years ago +2 / -0

This is plain and simple crossing the line where one accepts the Mark of the Beast.

I am not some religious nut, but we were all taught that this was a line that should not be crossed.

Well, we thought people were smarter than this, but clearly they are either aligned with malevolent forces or dumb as a box of rocks, either way...NO THANKS!

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▲ 3 ▼
– Jordan1234 3 points 2 years ago +3 / -0

This system is what will be used to enforce the mark but digital banking isn’t the mark itself. The mark will revolve around enforced worship that contradicts the law of God. You’ll know it’s here when they start enforcing a global day of rest on Sunday.

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– Vlad_The_Impaler 1 point 2 years ago +2 / -1

President Trump to nominate Michelle Bowman for a full term on Fed board April 03, 2019 01:00 AM https://www.pionline.com/article/20190403/ONLINE/190409916/president-trump-to-nominate-michelle-bowman-for-a-full-term-on-fed-board

She was nominated by Trump

Can't find any info on her husband.

She has a background in community banking oversight.

Looks like she was put on federal politics via Bob Dole and later George W Bush.

Her family owns Farmers & Drovers Bank. So her family has banking background and owns a bank. Her family's bank is worth some $200 million in assets.

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