Comments by "k98killer" (@k98killer) on "The USA Is About To 'SOFT LAUNCH' Their Digital Currency (CBDC INBOUND)" video.

  1. The truth will be that the issue of CBDCs will be an East vs West divide. In the West, we have huge bank lobbies who aren't about to give up their business model. FedNow is not usable by anyone except financial institutions with master accounts at the Fed.
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  2. The FedNow fearporn is overblown. Brazil has had a system like this for many years already. It has nothing to do with a CBDC. Rather, it is a fast, 24/7, net settlement system for transacting between financial institutions. For FedNow to work, financial institutions have to exist. If anything, the additional speed will increase the risk of bank run and cause reserve ratios to increase in banks, pushing the riskier credit creation into the shadow banking system which will also use FedNow but with more gatekeeping. The people in charge would likely prefer if people used more cash because that would decrease the risk of bank runs.
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