Powell Lays Out The Key Reasons Why The Fed Is Moving Toward Digital Dollars
- Powell Lays Out The Key Reasons Why The Fed Is Moving Toward Digital Dollars
by Tyler Durden, https://www.zerohedge.com/
In what remains the most undercovered financial topic of the year, if not century, we remind readers that starting about a year ago, central banks around the world launched an unprecedented if stealthy attempt to overhaul the entire monetary architecture of fiat money by implementing digital dollars, a transformation to a cashless society which in recent months has also received the tacit support of Congress, which is actively drafting bills to send “digital dollars” to the unbanked. For those just catching up, read the following recent articles:- Did The Fed Just Reveal Its Plans For A Digital Dollar Replacement?
- House Stimulus Bill Creates “Digital Dollar” To Send Virus-Aid To The ‘Unbanked’
- The Fed Is Planning To Send Money Directly To Americans In The Next Crisis
- Fed’s “Direct Money Transfers” Are Coming: Brainard Says Fed Collaborating With MIT On “Hypothetical” Digital Currency
- In Unprecedented Monetary Overhaul, The Fed Is Preparing To Deposit “Digital Dollars” Directly To “Each American”
- ECB Trademarks “Digital Euro” As It Begins Experiments On Digital Currency Launch
- The Circle Is Complete: BOJ Joins Fed And ECB In Preparing Rollout Of Digital Currency
Since we have done so on numerous occasions in the past, we won’t discuss the staggering implications of such a transformation when (not if) it is implemented over the next few years, instead pointing readers to recent thoughts from DoubleLine fixed income portolio manager Bill Campbell, who warned that “Pandora’s Box Of Fed’s Digital Currency Will Ignite An “Inflationary Conflagration” – which is spot on in its assessment that this is at its core a central bank Hail Mary attempt to spark drastic inflation across the globe in hopes of “reflating away” the world’s untenable debt load – and whose conclusion is striking:
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