They're coming after us in every way imaginable

We're in for a world of hurt should the FEDNOW system be enacted.
This is much worse than what took place in Nazi Germany for the level
of control that tptb want over us is total control.

One has to think that the WEF/SV/DC Axis of Evil is taking
us there.

Everything in bold was my emphasis, I didn't bold nearly enough

https://childrenshealthdefense.org/defender/fednow-instant-digital-payme...

04/17/23

Big Tech
 › News
New Instant Digital Payments System Isn’t a CBDC, Feds Say — But Critics Say It’s Still About Control

The Federal Reserve pushed back against claims that its FedNow system is equivalent to a CBDC, but critics say the aim is the same: government control over the financial system.
By 
Brenda Baletti, Ph.D.
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The Federal Reserve wants everyone to know that its new FedNow instant digital payments system, which it plans to roll out in July, is not a central bank digital currency (CBDC).

“The FedNow Service is neither a form of currency nor a step toward eliminating any form of payment, including cash,” the U.S. central banking system said in recently updated statement on its website.

Last week, the Cato Institute, Associated Press and Yahoo all followed with articles echoing the Fed’s position — FedNow is “not a central banking digital currency,” with the articles dedicated to “fact-checking” the assertion.

After reports about FedNow started circulating in November 2022, and after the Fed’s March announcement that the system would launch this summer, bankers, crypto experts and people concerned with personal financial autonomylashed out, arguing that the system is a step toward a CBDC, or at least toward government control over the financial system.

A CBDC is a government-backed digital currency issued by a central bank — a purely digital form of money, promoted as a tool that could make transactions easy between individuals, companies and the state.

But such centrally controlled digital money is also programmable. It could be set to expire at a given time, or restricted to particular kinds of spending — and all transactions would be trackable by the federal government.

The FedNow digital payments system is not a currency, like a CBDC, but it does make instant and trackable digital payments possible.

The Biden administration last March issued an executive order giving the “highest priority” to investigating a CBDC for the U.S.

Earlier this year, Fed Chair Jerome Powell told the House Financial Services Committee a decision on CBDCs hadn’t been made. But, he said, “We’ll have real-time payments in this country very, very soon.”

Some have speculated that FedNow’s ability to make real-time transactions is a way for the Fed to provide key benefits of a CBDC without actually creating one.

Fed Board of Governors member Michelle Bowman said so specifically last August: “FedNow addresses the issues that some have raised about the need for a CBDC.”

Former Congresswoman Tulsi Gabbard last week tweeted:

The tweet included a video of Gabbard detailing her concerns about FedNow and CBDCs, in an interview with Tucker Carlson.

Gabbard said:

“It’s about them being able to keep track of everything we purchase, whether it is a stick of gum or an automobile or anything in-between. And so if they have all of this information and data, which they will in this system, then where does that lead?

“It gives them the power to decide, ‘Okay, well hey, we don’t want to allow you to purchase certain things, or we may deem it necessary to freeze your overall account’ …

“[They say] ‘This is for your own good, this is for your convenience, to make it easier for you to conduct transactions,’ when in fact they are giving themselves all of the power, taking it away from us.”

Gabbard’s comments exemplify common concerns about CBDCs. In an interview with Del Bigtree on “The Highwire,” Catherine Austin Fitts, founder and president of the Solari Report, said:

“There is a huge push to continue to make sure to preserve cash, not just in the U.S. but in Europe because an all-digital system gives, ultimately, the people who control the central banks and the banking system an ability to literally turn on and off your money if you don’t do exactly what they say, and exactly what they say includes taxation without representation, healthcare mandates and literally taking away your kids.”

In response to the latest outcry, the Fed — and the media — rushed to quell fears. The Fed’s update says that it “has not made a decision whether to issue a central bank digital currency” and would do so only if a law were passed.

But Balaji Srinivasan, former chief technology officer of the cryptocurrency exchange platform Coinbase, tweeted:

“Fednow is central bank digital control, even if it’s not technically central bank digital currency. …

“People are immunized against the term ‘central bank digital currency,’ but not all forms of increased ‘central bank digital control,’ and FedNow is certainly the latter.”

How FedNow empowers the Central Bank

FedNow is an electronic instant payment system that would allow banks and their users to send and receive instant electronic payments 24/7. It could supplant apps like Venmo or Cashapp, bank-based payment systems like RTP and Zelle, or cryptocurrencies.

It will “enable every participating financial institution, the smallest to the largest and from all corners of the country, to offer a modern instant payment solution,” according to Ken Mongomery, FedNow program executive. It will be available “any time of day, any day of the year.”

Rather than being programmable money, like a CBDC, FedNow is a “payment rail” — a platform or infrastructure through which instant payments can be made between payers and payees in dollars.

But the FedNow guide specifies that every payment that goes through the system will pass through a Fed-controlled server and must “comply with applicable controls,” set by the Fed, Srinivasan said.

The roadmap for FedNow specifies it will offer payments between people, but also between people and the government, “which means automatic debiting from your account and automatic stimulus,” Srinivasan said. “In other words, even more direct government control over your bank account.”

That’s concerning, he said, because “in July, that Fed will soon have the visibility and power to monkey with your bank account directly to freeze or drain your funds at will with ‘applicable controls’ and ‘consumer to government’ payments, rather than being impeded by the current antiquated banking tech stack.”

There is a technical difference between a CBDC and FedNow, Srinivasan said.

“However,” he wrote, “[FedNow] is what people *fear* when they talk about a CBDC. It’s central bank digital control, even if it’s not central bank digital currency. And it’s a major step towards rolling out a full CBDC.”

“So I agree that the distinction between FedNow and a CBDC is important from a technical standpoint, but not from a civil liberties standpoint,” he wrote.

Fitts, who strongly advocates people use cash and a financial system that combines “healthy” analog and “healthy” digital technologies, told Bigtree the danger of a fully digital system “is that it can be centrally controlled.”

She agreed the problem societies are facing is not a narrow, technical question of CBDCs. “The challenge for all of this is how are we going to absolutely prevent the central bankers from instituting complete financial controls,” she said, adding:

“Whether they do it through their payment systems, whether they do it through CBDCs … It’s only a few steps until they have complete central control. So this is what needs to be prevented and it’s going to take the citizens and the state legislators to help us do it.”

Centralized control is a move toward ‘complete and utter tyranny’

The Fed announced the launch of FedNow on March 11, in the midst of the banking crisis that took down Silicon Valley Bank, Signature Bank and Silvergate, which had some of the biggest stakes among banks in the nation in the cryptocurrency industry.

“It looked to me like a game of economic or political warfare, or both,” Fitts told The Defender.

Many in the world of crypto argue these banks were taken down because of their cryptocurrency holdings — because cryptocurrency offers an alternative to a centrally controlled system.

Some experts observed that the banks that failed played a key role in providing cryptocurrency transactions that could compete with the Fed’s proposed payments system.

Signature bank’s Signet network and Silvergate’s SEN (Silvergate Exhange Network) allowed cryptocurrency firmsto settle payments 24/7/365.

“That’s kind of a CBDC, but being run privately, and so if you are going to actually try to roll out a CBDC run by the Fed, you can’t have a functioning competitor that’s not in their control,” financial analyst and creator of Liberty Blitzkrieg, Michael Krieger, told investigative journalist Whitney Webb in an interview on her Unlimited Hangout podcast.

Closing those banks also hurt cryptocurrency in other ways. Because blockchain runs all of the time, relying on legacy banks that are not open on weekends, this causes liquidity problems for cryptocurrency, Nick Carter, cryptocurrency expert wrote on his Substack, Pirate Wires.

Carter detailed how the takedown of these banks fits into a broader program by the Biden administration, the Fed and big banks to dismantle the crypto industry that offers an alternative to the banking industry they control.

In two posts on Pirate Wires, Carter outlined how the administration strong-armed banks into closing their doors to crypto firms over the last several months — or in the case of SVB, Signature and Silvergate, closing the banks that serviced crypto — risking the stability of the global economy in the process.

Former U.S. Rep. Barney Frank shared this hypothesis. So did the Wall Street Journal’s editorial board, which wrote two op-eds arguing that the bank closures were motivated by regulators’ hostility toward crypto.

The outcome, he wrote, is that bankers that service crypto clients are in an atmosphere of “abject terror,” worried they easily could be shut down or seized.

“Most worryingly, the takedowns of Silvergate and Signature represent a rank lawlessness associated with authoritarian regimes,” he said, adding, “In a lawful society, solvent banks are not seized by the government simply because their clientele is politically disfavored”

Fitts said there is a broader issue at stake in the current banking crisis.

“We have a society that is destroying wealth rather than building it and it is destroying productivity,” she said. “In the process it is centralizing control and it is moving to complete and utter tyranny.”

“If we refuse to comply now and we fight for financial transaction freedom now, if we work with our state legislators to fight for financial transaction freedom now, whatever happens, it’s better than what happens if we go along,” she said.

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earthling1's picture

an instant monetary exchange system. It's called a debit card, "it's just like cash".
For those who want to use it instead of cash, it works beautifully.
For those who want to shop anonymously, greenbacks are even more "instant" and I can purchase anything, anywhere, 24/7/365 days of the year.
IMHO

up
9 users have voted.

Neither Russia nor China is our enemy.
Neither Iran nor Venezuela are threatening America.
Cuba is a dead horse, stop beating it.

ggersh's picture

@earthling1 just cuz cash in the hand can't be turned down
like both debit/credit card can be.

The writing on the wall was the Canadian Trucker protest
where Canada shut down bank accounts, credit cards and such
of the truckers. could they the Canadian Govt have done this
in a time before credit/debit cards....nope

up
9 users have voted.

I never knew that the term "Never Again" only pertained to
those born Jewish

"Antisemite used to be someone who didn't like Jews
now it's someone who Jews don't like"

Heard from Margaret Kimberley

@ggersh cash withdrawals will be in the form of a card worth that much.
Expect a hefty fee at transaction. Your $100 card will not purchase $100 in goods and services.
Congress used to declare war.
Congress doesn't do much anymore, except fuck up.

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8 users have voted.

"We'll know our disinformation program is complete when everything the American public believes is false." ---- William Casey, CIA Director, 1981

ggersh's picture

@on the cusp to those on "Food Stamps" and unemployment benefits

Now off on a bit of a rant Wink

While the banksters are losing deposits higher rates help
offset that. To think that they are raising interest rates
to fight inflation is laughable. What's happening is that
they are trying to keep $$$$$$ debt profitable, and the
$$$$$$ a reserve currency. Higher rates means more people
w/$$$$$$ debt need more dollars to pay it off.

I'm thinking the drip continues until China says enough is
enough. Why is China in control, 2 reasons, first we import
everything from China, secondly China will not tolerate it's
assets to be stolen. They are happy with the game as it's
now being played but are slowly getting rid of treasuries

Debt matters

https://www.siliconinvestor.com/readmsg.aspx?msgid=34262413

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7 users have voted.

I never knew that the term "Never Again" only pertained to
those born Jewish

"Antisemite used to be someone who didn't like Jews
now it's someone who Jews don't like"

Heard from Margaret Kimberley

@ggersh Well, I mentioned having cash stolen without any way to show the cops what you lost. Cash leaves no paper trail. How do you prove cash has been stolen in some particular amount?
I would be remiss about that other cash problem.
If you have $5000 on you, get pulled over by a cop for speeding, or whatever, that cash is seized as suspected "fruit of the poisonous tree", a/k/a, ill-gotten gains. You have to sue, prove it was to buy a lawnmower from a seller who made the deal for cash only, or that you were on your way to a casino, as examples. It is actually very scary to have lots of cash on you.
I am getting to the point where I carry cash on my little vacations for buying chips and soft drinks, or fast food, and tips for the wait staff.
Having cash makes you a suspect.

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8 users have voted.

"We'll know our disinformation program is complete when everything the American public believes is false." ---- William Casey, CIA Director, 1981

@on the cusp

"Having cash makes you a suspect."

Assholes like Brandon made having cash make you a suspect. And a source of free money for cops.

https://www.c-span.org/video/?c4802791/user-clip-biden-praising-civil-fo...

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ggersh's picture

@on the cusp It wasn't that long ago that credit cards didn't even exist.
My father back in 1970 was needed to cosign a car loan for my first card
and the car dealer asked him for a CC and he responded that he paid for
everything with cash. They called his bank and before you know it I had
my car loan.

It's pure BS that having cash on hand should be considered poisoned fruit.
The cops are just doing what they are told to do. I hardly think that if
you had a couple of grand on hand a cop would think twice, now if you
were a young lady in your 30's and had makeup on it would be a different
story.

When did it become a crime to carry cash, it's just mind blowing that it's
come to this

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4 users have voted.

I never knew that the term "Never Again" only pertained to
those born Jewish

"Antisemite used to be someone who didn't like Jews
now it's someone who Jews don't like"

Heard from Margaret Kimberley

@ggersh @ggersh state seizure and forfeiture laws.
The way it works in my county, a vehicle is seized. If the driver/owner of the car is charged with any crime, the defendant would have to enter this civil seizure and forfeiture case to re-claim the vehicle and contents. That would cause the defendant to waive the right to remain silent.
So, the car gets auctioned, and the car nets $20k. $10k in cash was taken. The sheriff gets $18k to distribute in his office as he wishes. The prosecutor gets $12k to distribute as he wishes.
If nothing is seized but cash, and no charges filed, you have to prove you earned or were gifted the cash, penny for penny, in an honest endeavor.
Just think about how you would have to go through weeks, months, or years of tax records or bank accounts, to prove no crime is attached to that cash.

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4 users have voted.

"We'll know our disinformation program is complete when everything the American public believes is false." ---- William Casey, CIA Director, 1981

per day on my debit card. I haven't made the effort to speak with the bank to raise it.
It is rare that I can make a weekly grocery store shopping trip that is within that limit.
While I still prefer paying with cash, it is getting more and more dangerous to carry anything of value. If someone steals my cash, I have no proof of what amount was stolen.
We have been conditioned to allow our betters to manage our spending.
Young people do not know any other system.
About 20 years ago, I was shopping at Macy's. I made a purchase and paid by check. I continued on to another department, attempted to make that purchase with another check. They refused it, saying I had met my limit on the first purchase. I had to pay with a credit card.
More conditioning. More control.
FedNow is the beginning of the end. Those people insisting we resist have yet to tell us how.

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8 users have voted.

"We'll know our disinformation program is complete when everything the American public believes is false." ---- William Casey, CIA Director, 1981

@on the cusp

As for "FedNow is the beginning of the end. Those people insisting we resist have yet to tell us how."

At least Tejas, by establishing a state-run gold-backed bank/depository is doing something concrete in the way of providing an alternative outside Federal Reserve control.

Tenth Amendment Center chief Michael Boldin, whose organization promotes states’ rights to rein in the feds under the 10th Amendment to the U.S. Constitution, called the law “an important first step towards gold and silver as commonly-used legal tender in the state.” He said the move has the potential to open the market to sound money, even in day-to-day transactions. “By making gold and silver available for regular, daily transactions by the general public, the new law has the potential for wide-reaching effect,” Boldin added.

The Tenth Amendment Center also highlighted the constitutional implications. Noting that Article I, Section 10, of the U.S. Constitution prohibits state governments from making anything other than gold and silver a tender in payment of debts, Boldin said the bill takes Texas a step toward fulfilling that long-ignored constitutional obligation. “Such a tactic would undermine the monopoly the Federal Reserve system by introducing competition into the monetary system,” he said.

Other experts also highlighted those effects. “Over time, as residents of the state use both Federal Reserve notes and silver and gold coins, the fact that the coins hold their value more than Federal Reserve notes do will lead to a ‘reverse Gresham’s Law’ effect, where good money (gold and silver coins) will drive out bad money (Federal Reserve notes),” explained constitutional-tender expert William Greene in a paper for the market-oriented Ludwig von Mises Institute.

“As this happens, a cascade of events can begin to occur, including the flow of real wealth toward the state’s treasury, an influx of banking business from outside of the state — as people in other states carry out their desire to bank with sound money — and an eventual outcry against the use of Federal Reserve notes for any transactions,” added Greene, who also testified in favor of the law in his capacity as a private citizen.

The new law can also help protect depositors from other downsides of the present monetary regime — the risks inherent in fractional-reserve banking, for example — while still providing many of the conveniences associated with a bank account. Indeed, the depository will engage in many of the functions associated with traditional banking: The ability to store wealth for safe-keeping, the ability to write checks against deposits to transfer funds, and so on.

https://thenewamerican.com/texas-launches-gold-backed-bank-challenging-f...

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ggersh's picture

that the FED once upon a time was not in charge of printing money, Clowngress
once was. And like everything that could be bought Clowngress was and made it
so that the FED against constitutional law can coin currency.

All of these unelected officials, Powell, LaGarde, whoever is in charge of
the IMF are now dictating to the 5 eyes +++++ citizens how you can and can't
spend your money....

We will own nothing and be happy

And we are so very close to "having nothing left to lose"

up
7 users have voted.

I never knew that the term "Never Again" only pertained to
those born Jewish

"Antisemite used to be someone who didn't like Jews
now it's someone who Jews don't like"

Heard from Margaret Kimberley

up
9 users have voted.
snoopydawg's picture

the alien invasion before they decided to do this. Tess Lowry writes about how it’s coming soon and of course Hollywood will be conditioning us to accept it just like they have released all the pandemic horror shows in the last few decades.

Project Bluebeam, I discovered, was written about by French investigative journalist Serge Monast who died in 1996 at the age of 51 after alleged ongoing persecution by the police and authorities, and a day after spending a night in jail. Rigorous fact-checking has been conducted by the usual culprits in regard to suggestions that Project Bluebeam is a collaboration between NASA and the United Nations to establish total control over humans through the use of epidemics and powerful technologies demonstrating signs and wonders in the sky.

Project Bluebeam is generally discredited as a ‘conspiracy theory’, which is what immediately piques my interest to learn more. As noted in my other articles, conspiracy theories seem to be coming true, left, right and centre, so I am gaining confidence that they can appropriately and simply be coined ‘Conspiracies’, with the conspirators being the cabal who like to think of themselves, hilariously, as “Elite”.

Given the NAZI-style agenda of the cabal, it is no surprise to hear that the NAZI NASA rocket scientist, Werner von Braun, was involved in this anti-human space conspiracy. In the years before he died of cancer he revealed to a junior corporate colleague, Dr Carol Rosin, that the final card to be played on humanity is “the alien card”. Von Braun told her “Over and over”, apparently, to remember the last card saying, “We are going to have to build space-based weapons against aliens, and all of it, he said, is a lie.” I found this 12-minute clip with Dr Carol Rosin rather illuminating: https://ugetube.com/watch/dr-carol-rosin-fake-alien-invasion-project-blu...

So putting myself in the shoes of the megalomaniac cabal and imagining how they are feeling about us ‘awakening wonders’, to borrow a term from Russel Brand, I sense that desperation and fear may be leading them to play their final “alien card” fairly soon, perhaps even this summer. Learning that they worship inversion and that total enslavement is their goal, my punt would be as close to the American Independence Day – the 4th of July – as possible.

Importing the worst of the worst Nazis hasn’t been good for us after all, but it sure has made a lot of people very rich. I posted a tweet yesterday that has a video of RFK Jr talking about how during the Kennedy era the joint chiefs planned to bomb buildings and use airplanes to fly into them and then blame it on Cuba so they could overthrow Castro. They also planned on using nuclear weapons on Russia and thought that it was acceptable for 30 million Americans to die because 130 million Russians would too. How many false flags and outright lies have we been told so that the PTB could do their wars, invasions and regime changes?

I think it’s past time for the sociopaths running the country to step down from their positions of power. How we accomplish that without violence…I dunno.

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9 users have voted.

Which AIPAC/MIC/pharma/bank bought politician are you going to vote for? Don’t be surprised when nothing changes.

Under no circumstances should any private bank control our money supply or our economy. It might be consulted for advice but under no circumstances should their counsel be accepted as mandatory. It is the old 2 master rule. A banker's primary master is money, not society. Their primary motive is profits, not service.

Just as we must have a separation of church and state we must have a separation of business and state. A bank is a business.

The fed is not government, it is a bank. Way too much these days we equate things that should never be equated.

However, we do need a central societal controlled money exchange system that functions in the most efficient way possible. And this system should be governed by the bill of rights and tightly regulated.

Ok, done ranting.

Couple days ago on our trip back from the green side of the Cascades we stopped in a restaurant and had some lunch. Very badly run eatery by the way. Anyway, afterwards I asked for the check. Guy came over with his handheld thingy and showed me the total and asked for my card. I said "I don't do those things. I want a piece of paper with some numbers on it."

He then proceeded to explain to my white hair why I should use his machine. I didn't bother telling him that I know how it works and that I don't use it for that reason, I just said I don't use that thing and dropped a couple bills on the table.

I also do not ever use a QR code reader or an Uber, also for the same reason, ie, I know how they work.

The only time I use a debit card is to get cash and only at an ATM located at an affiliated branch of my financial institution.

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11 users have voted.
dystopian's picture

Sorry to be so far behind the curve... my life story... anyway, wanted to say, you have not been able to pay for domestic air freight cargo at American Airlines in U.S. Legal Tender (cash dollars) for many years. Probably nearing ten. Several other airlines same thing. Some depends destination, others it is company policy. If you don't have a way to digitally pay, you cannot get air cargo on American Airlines.

I hear of restaurants where menu and payment is digital only.

Not good developments, and the normalization has been going some time in various areas.

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6 users have voted.

We cannot solve our problems with the same thinking we used when we created them.
Look deep into nature, and then you will understand everything better.
both - Albert Einstein

snoopydawg's picture

Jaimie Dimon is being questioned about his bank’s dealings with Epstein and so far he is the only one facing any Type of music from the sordid Epstein saga. Why him and not the other men who are connected with sexual crimes against children? In this time of leaks it’s funny how no one has leaked the rest of the names tied to Epstein. However Whitney Webb has done a great job naming names which we have covered here in the past. But they were just a small number of people who flew the Lolita express.

The timing on this is, of course, coincident with Dimon’s legal troubles over the same issue, which we know is a highly politicized issue. Now, if there is one person who has the pull and the power to support the Fed’s moves to regain control over its monetary policy it is Jamie Dimon.

As such, Dimon then represents one of the biggest threats to Davos’ desired outcomes of a future dominated by full surveillance over all financial activity via CBDCs. Make no mistake, I don’t trust Dimon as far as I could throw him, but I also know that he is a fulcrum on which a lot of future plans rest.

So, to me, his new legal troubles are a counter-move against him, in a classic ‘nuts and sluts’ campaign to pressure him out of his position. If you think JPM is a monolith then you have a simplistic view of organizations. It isn’t. There are plenty of people at JPM who would sell Dimon down the river for a whole lot less than thirty pieces of silver.

If Davos can’t get rid of Jerome Powell at the Fed then Dimon is the next best target.

The real job of the journalist/analyst is to ask why is it that all of a sudden we know of Dimon’s past associations with Epstein?

Who’s seeding that into the zeitgeist? If you’re going to take the bait and ‘expose the real Jamie Dimon’ then shouldn’t you also ask why someone is putting that idea in your head?

If you’re really interested in the truth then you would always keep your radar for such stuff in good working order.

But if Dimon really is a WEF/Davos stooge then why is he being pursued in a kangaroo court similar to what Donald Trump is currently going through (also an Enemy of Davos) and what was done to Matteo Salvini in Italy over his migrant policy.

No one is out there defending Jamie Dimon as the victim of a Soros-backed smear campaign because he’s the epitome of what is hated in the world right now: a rich, white guy, CEO of the most powerful bank in the world.

Ask yourself who benefits from taking him down?

If Dimon was a Davos stooge as Whitney suggests then why aren’t his legal troubles going away rather than seemingly multiplying?

I pulled this out of this essay on the leaks and what they actually are. True or another in the long line of psyops? He continues to write about Dimon so maybe read this at the source.

But what will happen to banks if everyone has to pay with digital currency? Will their profits and control over governments remain intact? Or will the Davos crowd take over running the world?

Thoughts?

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6 users have voted.

Which AIPAC/MIC/pharma/bank bought politician are you going to vote for? Don’t be surprised when nothing changes.