The Fed Proposes a 4th Function of Money: Means of Social Control @CaitlinLong_ @tyillc @menlobear @dlacalle_IA @RobMcNealy A Federal Reserve white paper espouses a new function for money. Let's tune in. mishtalk.com/economics/the-…
As also noted in our paper, "The main economic attributes of a technically effective currency rests on three functions: as a unit of account, a store of value and as a medium of exchange." "But there is a fourth function of money: as a means of social control."
@MishGEA @CaitlinLong_ @tyillc @menlobear @dlacalle_IA @RobMcNealy So this has been coming now since the ECB started getting up to speed on crypto from the founders of Ripple..2018 if memory serves. Interbank crypto is not a big deal. Sovereign crypto is a big deal. I've said for 3-4 years that it's the ultimate tool for financial repression.
@MishGEA @CaitlinLong_ @tyillc @menlobear @dlacalle_IA @RobMcNealy The referenced document has this part.... A.k.a. Tell me you don't know what you are talking about without telling me you don't know what you are talking about.
@MishGEA @CaitlinLong_ @tyillc @menlobear @dlacalle_IA @RobMcNealy a new round-the-clock real-time payment and settlement service, called the FedNow… Yeah, that’s the cbdc coming out to make you a literal slave to them. We told before for years, buy btc for freedom. You didn’t because you’re too busy watching movies.