The plan to kill crypto with FedNow.
We all know by now that the stimulus checks issued during COVID was a significant checkpoint for those who run the system. With the economy, this gave the people handouts which allowed an unprecedented increase in consumption and spending. People bought more food, enjoyed their surroundings and indulged in more pleasures than they were used to. What this did was give everyone an equal chance to increase the flow of money into all sectors at the same time. This included investments into the stock market and cryptocurrency market. An extra £1000 went into a YOLO alt coin that you thought would 100x. The people who worked in the industries like tailoring, business and VCs ect, benefitted because their businesses had a uptick in revenue directly increasing their standards of living too, creating a ripple effect of what was seemed as wealth generation.
What the majority failed to realise was that as consumption increased, the majority would eventually get caught in the crossfire, being hit with a wall of rampant inflation. The wealth divide would widen to unprecedented levels and banks would up and fail. The manipulation of the crypto market specifically made bulls feel on top of the world without realising the market was as all speculative bubbles have experienced, been artificially pumped with liquidity that would eventually be leaving the market. Projects were rugged and markets hit new depths with investments in the red, all whilst essential items prices skyrocketed globally. The US government and FED hand in hand put the world into a distraught situation and despite the cryptocurrency market booming to new heights, the appropriate governing bodies opted on NOT issuing regulation during a time when many needed it most. Why was this? Was it planned? I think so… Let me explain.
The US government working with the SEC has gained a poor reputation in the crypto space issuing lawsuits to projects with the unfavourably resent of many investors. Operation Chokepoint 2.0 is a campaign that the government has implemented to end the use of cryptocurrency and it is believed that this is being used as a trojan horse for the eventual implementation of CBDCs.
If we look throughout history, the US government has a stellar reputation of enforcing strict financial laws almost immediately before most countries. The confusion with the cryptocurrency market, is why the SEC and FDIC has been oblivious to the approach of enforcing regulations with the very speculative market even at its heights. The big run up in crypto prices followed by the current bear market we are experiencing was unravelled by a variety of fraud exposes like FTX and LUNA but the appropriate bodies have been against implementing any appropriate regulation in response to prevent this from happening again. This should be questioned. Why are stablecoins like USDC and USDT not being audited and regulated by financial bodies when they themselves represent the equivalent of a USD? People believe this is reason 1 for an eventual crash and burn scenario.
The somewhat relaxed approach to regulate has been a large reason why many institutions have been against investing in crypto. Large companies that don’t want to have issues with the government will not touch risky assets like crypto, and until a regulatory red carpet is rolled out, this will not move forward. The hands-off approach to crypto has pushed innovation into the hands of offshore individuals or people who don’t care about those rules. This is planned.
On March 15th, the Federal Reserve confirmed that in July, they would be launching FedNow, which is an instant payment service, or what I like to call, a pre-cursor and phase 1 for the CBDC. This service was announced just days after the collapse and takeover of Signature Bank, which was a very crypto-heavy bank. Its becoming increasingly evident that the US specifically, are trying their best to not only stifle the cryptocurrency market, but also kill it so that the liquidity is removed and reverted back to the “safe USD”. Lets not even go into the fact that multiple crypto billionaires have vanished and been killed in suspicious deaths (liquidity removal).
The government has no interest in what Bitcoin and other decentralised financial methods could offer as they are simply cheap, fast payments and anti-censorship money. So the idea is that they lump everything together, make people lose money, discourage businesses from engaging in anything to do with crypto, then roll out their own solution, giving people some advantages they want but not all of the advantages. FedNow settles payment in seconds, consumer to consumer, B2B or C2B. It fixes the convenience issue, fast money issue and cheap issue. In April, banks will be certified to launch the service, and government payments like stimulus checks, similar to during COVID-19, may look to be credited to citizens FedNow accounts. This would arrive immediately rather than taking days.
The government and WEF has been hinting about another crisis and making it easier to receive capital is a simple catalyst that enables FedNow to be structurally implemented into the broken system. The Fed says that making funds immediately available helps citizens living pay check to pay check, as well as aiding small businesses with cash flow constraints by avoiding late payment fees. They also say it allows the freeing up of working capital to finance growth. It also cuts demands for payday loans so consumers don’t have to wait for a check to clear. These are all listed in the briefs, FedNow isn’t being talked about because it doesn’t say CBDC on the box, but understand its merely the domestic equivalent which will 100% be utilised as an on ramp to onboard the global CBDCs.
If this pilot program works from July, the next stage will be payments between government agencies. FedNow will be used for all payments, and once that happens, it will be used by the government for whatever they deem necessary, whether that’s taxes, tax refunds, or social security checks. It’ll go through FedNow. This is why it is believed that this is phase 1 for CBDC, laying the groundworks for the building structure of the next payment system. And the only viable way they can do this, is by putting a stop to the crypto market, hindering cash flow into the market and stifling innovation to the point investors are lost and distraught.
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