Major Banks Make Announcement – Americans Should Be Concerned

The pandemic was used as a justification for significant modifications in election procedures. Now that they are trying to convince us that it is normal that it can take days in certain locations to count elections, we can see the negative effects of many of those changes.

Several banking oligopolies and the Federal Reserve Bank of New York are working together on a 12-week pilot project for digital dollars.

On a shared multi-entity distributed ledger, they will investigate the viability of an interoperable network of wholesale digital money from central banks and commercial bank digital money.

HSBC Holdings, PNC Financial Services, TD Bank, Truist Financial, Mastercard, Wells Fargo, Citigroup, TD Bank, and U.S. Bancorp is one of the large banks that has teamed up with the New York Innovation Center of the New York Fed for the pilot initiative.

Projects like this, which concentrate on the digitization of central bank money and individual bank deposits, could be expanded to take a broader view of the opportunity. Programmable US dollars may be required to support new business models and provide a foundation for critically needed innovations in financial settlements and infrastructure. In a statement released on Tuesday, Tony McLaughlin, managing director for emerging payments and business development at Citigroup’s treasury and trade solutions division, said.

The government currently has access to a lot of your financial transactions. However, if this applied to individual accounts, all of your transactions would be public record. The government would hypothetically be able to cut you off and exert control over you in addition to being aware of everything you do.

Some people also believed that this trend toward CBDC would be aided by the collapse of FTX.

One of the riskiest historical developments would be the introduction of a digital US currency. Government has complete power over your life when it only needs to turn a switch to stop all of your transactions. We require a barrier separating the state from money.

There are uncountable risks that such a system poses to our freedom. The incoming Republican majority needs to take the initiative on this and prevent it from being imposed by force.

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