Fed paper: Central Bank Digital Currency (CBDC) could offer range of benefits and risks

CNBC's Steve Liesman reports on the Fed's has issued a paper on a central bank digital currency. But the Fed says it will not proceed without authorization from the White House and Congress.

[JoseMendoza-hxkj]

JAPANESE CITIZENS ON WEDNESDAY 03, 2022 AT 13:20 CET, VOTED DOWN THE USE OF A CENTRAL BANK DIGITAL CURRENCY, DUE TO "ZERO FINANCIAL PRIVACY WITH ON BENEFITS FOR ITS CITIZENS".
ECONOMIST/MATHEMATICIAN

[pattilab]

They should use cbdc for government spending only. That would make auditing any government agency much easier.

[crypto]

Great idea... give the Feds yet more power!!!! A smart currency they can program and more fully surveil everything everyone does with!!! I go to sleep every night being thankful for Big Brother!!!! Thank you Big Brother!!!!

[singermanz]

Privacy protected, lol. They’ll tax every cent.

[notinterested]

what happens in a major power outage like what happened in Texas ? People rushed to Lowe's and Home Depot to buy plywood and generators with cash in hand . Going digital poses extreme risk and opens the door to get rid of paper money thus abolishing the cash tax free side hustles .

[wildchild]

Because they were such good steward of the dollar the last two years

[drattler]

Benefits MY ASS Total Govt Control and Monitoring NO CASH Help We are Screwed

[montanagal]

Whenever it involves the FEDS and money, we're getting screwed.

[jonathanbrown]

PERFECT serfdom.

Time again for an American revolution?

[freespirit]

Don't go for digital currency no matter what. They will have to total control of your money. And can turn it off and on at will and will know everything you buy.

[jshafer]

Yeah and don't use it it disappears. And they will control you.

[sh]

No cashless society, no n no.
We all done

[benjaminknotts]

Bitcoin BAD!!

My digital money good!!

[jackrandom]

I'll take a CBDC... But only if it's a U.S. TREASURY note directly under control of Congress and not a FEDERAL RESERVE NOTE under control by banks.

[jaym]

> CBDC could offer range of benefits ...
Hope it is backed by Gold (and not a keyboard and finger).

[Rolfthewild]

Full on digital currency is dangerous and as fragile as an internet connection.

[rustyshackleford]

A range of benefits!!!! There's always an "attractive" side to communism.

[wildchild]

When you say white paper do you mean toilet paper 🧻🧻🧻🧻

[vincentjacobsson]

I think that the governor of the central bank and the bank’s relationship with the king may be about a class society with the lending of the king's money in exchange e.g. bank interest and that this should be investigated by a new state.

[gunsntokens]

End the Fed!! Replace with bitcoin or the Vevus project.