Is FedNow a Wise Move for the US and the World? Let’s Take a Look

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FedNow is a federal reserve backed payment program kind of like Venmo, Zelle, Cash App, that allows money to move between banks and people in a more secure and faster way (according to it’s creators). The only difference between private industry apps like Venmo, Zelle, Cash App and FedNow is that FedNow is backed by the US government and is said to begin late July 2023. Many banks will be opting in to this new FedNow payment program and I’m sure your bank will someday be too.

Let’s say for now banks and people have the option to opt into Fednow. Ok, a seemingly benign opportunity to move money around more securely and at a faster speed with backing by the US government, awesome! But now, picture a scenario where our government is headed by a delusional psycho and all of a sudden banks fail, or for example the new payment program morphs from being able to opt in to a Law mandated program banks have to comply with. Now, your money is in the hands of the government, and not the decent kind of government that handles things with a level head.

Let’s say FedNow not only became a mandate for banks and people, but transformed from a payment system to a holder of your and the rest of the world’s money! Yes, programs tend to expand and become bigger over time. So, how exactly did this happen? The war on tech could potentially eliminate the Venmo’s, PayPal’s, Zelle’s of the world, and lay the foundation for FedNow to be the sole option for parking money allowed for banks and citizens. Let’s say with all the problems big tech has the US government decided to take complete control of your money through FedNow (which had a humble start as an opt in program), now what do you do if all of your transactions fail or go through based on “The New Rules” of the governing party? Let’s say rules like, you can’t use money for this or that pop up and you can’t even use your own money for things you need or want? That’s the problem our current leaders aren’t paying attention to.

Sure right now things are ok and government is doing a decent job at keeping society intact. Ok, but what happens when new characters that don’t care about that run the show and make the rules for Fednow? Not only will people in the US deal with the consequences, but people everywhere will be under the Fed’s rules! You will not control your money! And who knows, maybe they’ll choose not to award you your hard earned dollars, euros, or whatever currency you earn! Maybe they’ll delete your entire savings, or transfer it to their accounts like the Hollywood movies.

FedNow, is just not a bright idea, payment systems and banks should be set up by private citizens, not by governments. Government is there to protect rights and make laws, not intrude in this manner. Let entrepreneurs do their job while you do yours!

As a further thought, say big tech is completely eliminated, the Venmo’s, Zelle’s etc are gone and the only player in town is FedNow. The world has no other option because their big banks are run by the fed, now all of our money is out of reach and only to be used based on the laws or rules set by delusional characters. What happens next? Well, dissent or having a contrary solution to what’s happening could be thwarted by Robots and AI, through listening devices and spying measures implemented by the new delusional ruling party. Let’s just say all you conversations were carefully monitored, you can’t speak up against such issues without risking consequences, then what? It’s definitely all possible under a delusional government.

See, these are the future problems a program like FedNow introduces, not very smart, not a long term bright idea. If you live in another country and think you’re safe, I’d think that over since the fed controls most central banks in the world! If things get bad over here in the US it’s only a matter of time when you will see the effects in your situation. Forget it, I’m Fedup with FedNow and want FedNever! It’s a bad idea for governments to get involved in business beyond playing their role as protectors and regulators. Let Technology do its thing while you as a governing entity do yours! People don’t need government controlling how they use their money, or how they choose to park it.

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