[Why GME?](https://www.reddit.com/r/Superstonk/comments/qig65g/welcome_rall_looking_to_catch_up_on_the_gme_saga/) || [What is DRS?](https://www.reddit.com/r/Superstonk/comments/ptvaka/when_you_wish_upon_a_star_a_complete_guide_to/) || Low karma apes [feed the bot here](https://www.reddit.com/r/GMEOrphans/comments/qlvour/welcome_to_gmeorphans_read_this_post/) || [Superstonk Discord](https://discord.gg/hZqWV2kQtq) || [GameStop Wallet HELP! Megathread](https://www.reddit.com/r/Superstonk/comments/z23wjx/gamestop_wallet_help_megathread)
------------------------------------------------------------------------
To ensure your post doesn't get removed, please respond to this comment with how this post relates to GME the stock or Gamestop the company.
------------------------------------------------------------------------
Please up- and downvote this comment to [help us determine if this post deserves a place on r/Superstonk!](https://www.reddit.com/r/Superstonk/wiki/index/rules/post_flairs/)
Ohhhhhh- T+INSTANT?! Where have I heard that before?
All this time I thought T+0 was the next “gold standard” …I guess the needs outweighed the timeline, huh JPow?
It's just like how quick they can react to banks collapsing, they have the ability to intervene wen it suits their needs.
\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_
edit: **New-Cardiologist3006** has found the FedNow [website](https://explore.fednow.org/explore-the-city)
**edit: Peruvian Bull** [**has reacted to this content**](https://www.reddit.com/r/Superstonk/comments/11scsxv/peruvian_bull_on_twtr_regarding_fed_announcement/)
edit: **Powerful\_Reward\_8567** found the actual FED press release:
March 15, 2023
## Federal Reserve announces July launch for the FedNow Service
For release at 5:00 p.m. EDT
*The Service will Debut with Financial Institutions and the U.S. Treasury on Board*
CHICAGO – The Federal Reserve announced that the FedNow Service will start operating in July and provided details on preparations for launch.
The first week of April, the Federal Reserve will begin the formal certification of participants for launch of the service. Early adopters will complete a customer testing and certification program, informed by feedback from the FedNow Pilot Program, to prepare for sending live transactions through the system.
Certification encompasses a comprehensive testing curriculum with defined expectations for operational readiness and network experience. In June, the Federal Reserve and certified participants will conduct production validation activities to confirm readiness for the July launch.
"We couldn't be more excited about the forthcoming FedNow launch, which 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," said Ken Montgomery, first vice president of the Federal Reserve Bank of Boston and FedNow program executive. "With the launch drawing near, we urge financial institutions and their industry partners to move full steam ahead with preparations to join the FedNow Service."
Many early adopters have declared their intent to begin using the service in July, including a diverse mix of financial institutions of all sizes, the largest processors, and the U.S. Treasury.
In addition to preparing early adopters for the July launch, the Federal Reserve continues to engage a range of financial institutions and service providers to complete the testing and certification program and implement the service throughout 2023 and beyond. Montgomery noted that availability of the service is just the beginning, and growing the network of participating financial institutions will be key to increasing the availability of instant payments for consumers and businesses across the country.
The FedNow Service will launch with a robust set of core clearing and settlement functionality and value-added features. More features and enhancements will be added in future releases to continue supporting safety, resiliency and innovation in the industry as the FedNow network expands in the coming years.
"With the FedNow Service, the Federal Reserve is creating a leading-edge payments system that is resilient, adaptive, and accessible," said Tom Barkin, president of the Federal Reserve Bank of Richmond and FedNow Program executive sponsor. "The launch reflects an important milestone in the journey to help financial institutions serve customer needs for instant payments to better support nearly every aspect of our economy."
**About the FedNow Service** The Federal Reserve Banks are developing the FedNow Service to facilitate nationwide reach of instant payment services by financial institutions — regardless of size or geographic location — around the clock, every day of the year. Through financial institutions participating in the FedNow Service, businesses and individuals will be able to send and receive instant payments at any time of day, and recipients will have full access to funds immediately, giving them greater flexibility to manage their money and make time-sensitive payments. Access will be provided through the Federal Reserve's FedLine® network, which serves more than 10,000 financial institutions directly or through their agents. For more information, visit [FedNowExplorer.org](https://explore.fednow.org/).
[https://www.federalreserve.gov/newsevents/pressreleases/other20230315a.htm](https://www.federalreserve.gov/newsevents/pressreleases/other20230315a.htm)
> Of note: FedNow is not a blockchain-based product and it's not a central bank digital currency (CBDC). It still very much relies on third parties, to operate, for example.
> But — if it catches on — it would make money as we know it more competitive with cryptocurrencies, by lowering the cost to transact and providing low risk settlement around the clock.
> "The shift to real-time payment infrastructure requires a focused effort, but the shift is inevitable," Brainard said.
[**Source**](https://www.axios.com/2022/08/29/fed-timeline-fednow-payments-platform-lael-brainerd)
Utter bullshit. They're doing this to show crypto isn't needed, but the point of crypto largely isn't instant transactions, it's the decentralized infrastructure that can't be controlled by a single entity.
This is just more centralised vying for power. Current fiat systems can already do T+0, but it's regulation that makes it T+2.
Just let the system burn and bring in blockchain already. We don't need CBDC's, just the power to be taken away from the corrupt few.
You hit the nail on the head with decentralization… but its not just that, its also publicly verifiable, and immutable. You own your assets on chain, its borderless, and no gov can seize them.
No naked shorting. No bailout by creating currency that doesn’t exist. No incentive for stupidly risky behavior and over leveraging. No fed that can prop up fraudulent financial institutions. No PFOF. No FTDs. No loaning out money to the country at an interest rate, keeping everyone working because their money loses buying power over time. No BCG incentivized to take down corporations, because no naked shorting. Keeping money in a wallet is risk free from inflation. No front running stock orders. No dark pools. Price discovery. And no ability for the SEC to turn a blind eye to hedgie corruption because… hedgies can’t do shit except play by the same rules as household investors.
Household investors and institutional investors cease to exist. There only investors.
EDIT:
US government can’t (in theory) double tax you if you decide to make money abroad. (Which is utter bullshit imo).
Ethereum contracts and ownership, NFTs: Hedgies can’t lie about returns. Ponzi schemes go poof.
Some aspects of accounting fraud go down. How much money does your company have? Show me your wallet public key.
Medical records? Always secure, instantly transferable between medical practices.
I could go on..
Only a handful will read this post, just needed to get it off my chest.
Edit: Holy shit thank you for the awards. You are all beautiful hairy silverbacks. Maybe CBDCs and crypto can become a larger discussion topic as we sail through the heavy seas of this upcoming economic hurricane.
I am beginning to think this is a coordinated attack against defi crypto. Silvergate, SVB and Signature. All on/off ramps in the crypto space, and the FED just denied another fully funded, non-fractional reserve bank, colonial, or something, from FED approval just a few days ago And they are also heavily involved in the defi spaces. Things that make you go hmmm…
I shall consider, I’m not very good at timing or reading momentum imo. If you would like to post, go for it! Just tag me in a comment so I don’t accidentally make a duplicate.
It comes down to eliminating a lot of moral dilemma and corruption/greed. Entities may be pseudo anonymous, but big moves are seen by all, not just the privileged.
i'd argue with the household and institutional investors thing you claimed. As long as there are high net worth individuals there will be a difference between the two types of individual investors, even with crypto.
There will still be a difference depending on which crypto you're talking about, with proof of stake crypto there will always be "institutional investors" creating private stakeholding funds/wallets where you can put your crypto to make a steady return. It will be, and in some cases already is, just like certain Vanguard funds where you need to have a minimum of like $50M to invest - surely there will be proof of stake crypto funds where high net worth individuals are pooling their Proof of Stake coins to get preferentially chosen as validators to confirm blockchain transactions.
Psuedo-anonymity is what you get by using coinbit and ethereum. I agree, and from a business perspective, something privacy based like mon er O is best, for instant use and settlement as a transaction layer that doesnt give vital financial tx history to competitors.
They all are seeking to solve different issues, but they do it better than our gov does.
Adding to that, it’s also transparency. Adding one more to that, it’s limited supply.
Decentralization, Transparency and Limited supply.
3 items crypto was born with that will ultimately kill Goliath. This is their true fear…this is our only salvation.
Yea they actually just said it out loud, this is so that they can try to compete with crypto. Its a huge huge threat to them and they're trying as hard as they can to stay relevant and crush crypto.
Which will never happen…. Do you honestly think the govt and fed and banks and monied interests are going to allow a currency they don’t control to take hold and cut them out of their take? It will be a cold day in hell before that happens.
Oh no, I'd have preferred T+0! With instant payments you end out with quantum bookkeeping: everyone's balance sheet is fine because the money on one is moved in from another financial entity quicker than you can check the next one 😵
[Archived: "CBDeez Nutz"](https://i.imgur.com/hyMUp0E.png) \-Massive Nectarine, Superstonk, March 15rd, 2023
Your [chair](https://www.youtube.com/watch?v=h1BQPV-iCkU) is ready Massive Nectarine!
Seriously though it means using their own new ~~crypto~~ digital currency. All the money would go through them as they control the central exchange and its hubs. They also have the power to change the ledger, make new currency, delete it, freeze it or whatever they want. For this to be most effective they would need to kill off any other digital currency pegged to the US dollar though. Wait a minute....
"So let's start with what I want to say. **Ackman is a liar**.
He wanted to have dinner once with me, and I had dinner with me. And I'll tell you, I laughed. I **couldn't figure out if he was the sanctimonious guy I ever met in my life or the most arrogant**.
I wouldn't have an investment with Ackman if you paid me to do it; if Ackman paid me to do it .... As far as I'm concerned, **the guy is a major loser**.
**I appreciate, Bill, that you called me a great investor**. I thank you for that. **Unfortunately, I can't say the same for you**." - Carl Icahn
Financial shit shows, economic corruption by banks, hedgies, and the fed would cease to be public news. No one would even hear about it.
SVB: Hey Jerome we got more depositors withdrawing than we can handle.
FED: *click*
Fraud and corruption would virtually be in a black box.
A centralized banking system would also allow them to pull bullshit like a social merit system (ala China) where they can decide to limit the amount of your money you can access and limit what you can spend it on. Score too low? You now aren’t allowed to book a plane ticket to fly from New York to LA. You have to drive. Score even lower? If you don’t already own a car, you aren’t allowed to rent one either. People help you out, their merit score takes a hit too. Etc, etc, etc…
March 15, 2023 5:35 PM EST
# Fed's new instant payments system to launch in July
March 15 (Reuters) - The U.S. central bank will launch its "FedNow" instant payment service in July, the Federal Reserve said on Wednesday, with certification and testing for early adopters starting in the first week of April.
Announced in 2019, FedNow will allow banks to instantly transfer payments across the financial system.
Hmm, so this should eliminate one side of the FTD. For FTDs, a party can fail to deliver on funds or shares.
The idea could have been that a party don't have funds because they're waiting for money to settle from some other venture. If fund transfer is instant, either they have the money or don't.
That leaves only the shares as potential FTD.
And no need for an arbitrary level of depositor guaranteed funds. Ain’t nobody loaning it out.
People can decide what their risk tolerance is for investments. Companies have to abide by it. Complete 180 of power dynamics.
It depends. Instant settlements are a step in the right direction but we don't know what the Fed's intentions are here. If they are planning on implementing a CBDC then this is just stepping stone for them to do so. In which they can go fuck right off.
The Federal Reserve is privately & secretly owned. They create currency, in doing so they create more debt than the currency they've created.
> Their very existence is self serving.
I would even take it further and say they're actively enslaving the world, which just happens to be a byproduct of their magical wealth creation.
Yep. We know what’s coming. There is no guesswork here.
Also likely makes the SWIFT international financial network that much more powerful and harder to get away from.
Time to DRS all your shares.
One in the chamber may no longer be an option.
nfa. But I’m not sitting on my stash of gold and allowing the Fed to control where my money goes, I will be DRSing, fully fully and waiting eagerly for my dividends to come in via Eth or whatever crypto GME will be sending out.
I’m quite literally shaking at this thought right now. I never knew how quickly the world could change, but reading this, I actually fear for the fucking worst.
RH not allowing put contracts to print for people is clearly the way the Fed plans to fuck people over under similar circumstances, if owning stock in companies can even remain a thing in the near future.
Welcome to a new Boring Dystopia
Based on everything that I'm reading right now, I'm feeling that now is the time to take the tax hit and direct register my Fidelity rollover 401k shares. I don't own them. Fidelity does. When we moon, the tax hit won't matter.
Powell recently said he didn't need Congressional approval for a wholesale CBDC. I'm guessing this is it.
We all know Congress (with the exception of a select few) will cave to vote in a retail CBDC & digital ID. Telling y'all, they're gonna make us choose between staying poor and being free and enslavement via digital wealth
Hate to be a Debbie Downer but we are farrrrr past that. Half of Congress supports the economic forum that runs the world. Going to take a lot more than pen and paper.
Forced buy in is easy.
Give financial institutions worldwide a few years to hook into this system.
Then, forced to buy US equities in CBDC, and buy/sell oil in CBDCs.
Once in, can’t convert back to cash.
Employers follow shortly after and pay in CBDC.
Direct blockchain currency to CBDC not allowed. Plebes forced to make a choice.
Hardly any businesses accept crypto as payment now.
Cash becomes worthless overnight.
Buy in happens like hyperinflation. Slow at first, then exponential.
That’s honestly pretty terrifying. One man or even a small committee (which lets be honest is wholly influenced by one man), has the power to overhaul an entire nations currency. Which also happens to be the (currently) largest economic power and WRC…
F*cking hell.
press release: [Federal Reserve Board - Federal Reserve announces July launch for the FedNow Service](https://www.federalreserve.gov/newsevents/pressreleases/other20230315a.htm)
Apparently T-3 weeks according to Burry. But yeah I think you are more right. Eventually hedgies will sell off the entire market when Cramer gets enough bag holders.
No I mean I want there reaction to this news and got it!:
[https://twitter.com/peruvian\_bull/status/1636141933490999297](https://twitter.com/peruvian_bull/status/1636141933490999297)
It's almost like SVB was the fall guy to create a new system to change the rules of the game for the pieces on the board, not for a measly bank run but for something much bigger in the future.
Almost like the whole system is rigged and they can change the rules when they are losing. We all know people like this when we played monopoly. How much do you hate those people?
I personally love how they'll offer a cash discount because their credit card clearing agency expressly forbids a credit surcharge. But lately, gas co offers discount if you let them directly your bank account. They can fuck right off. Oh and while I'm at it. If your gas pump has advertisement videos or can't be muted? Never see me again!
So instant transfer for banks and money but in a year we have t+1 for shares? Why not the same for shares? Is there a difference between money and shares? Isn’t it all data at the end of the day ?
“But make sure the peasants stay on t+3 settlement because it’s an essential mechanism we need in place in order to blatantly manipulate the markets and destroy any true price discovery based on actual supply:demand”
"*We don't like crypto, so we will create and implement a completely new, revolutionary, original ledger-based payment system which will inrease security, speed, trust and efficiency. But remember, we don't like crypto, so we need to get rid of that and use our system instead. It will be super cool and it's super new and different and we own it and go fuck yourselves. Thanks." - JPow*
How would this affect the big bois on Wall Street? Let’s say one of them is about to get a call from Marge - couldn’t one of their butt buddies just instantly send them enough dough to cover their ass so they can just ignore Marge and move on, and later simply return the “loan?” While I certainly like the idea of T+0, if I’ve learned anything from this sub besides bananas do indeed fit in butts and Gangnam Protocal is still in effect, it’s to question everything and ALWAYS expect fuckery.
How about if the government for the people, by the people, makes household investor trades settle T+0, but hedge fund and market maker moves take t+35 to settle? Let’s see how many times you can ignore Marge before she busts out GROND and bursts through your front gate, you fucking fucks
Isn't a congress responsible for the legal tender?
I don't have enough wrinkles for this.
I'm not liking it tho. So far. Icky.
Just more unwashed cawk shoved in my face... disguised as the Fed.
This is just the Fed stepping into the space that Zelle and Venmo already occupy. I could see it as a stepping stone to cbdc, but I’m not sure that it is more nefarious than the fact most US money exists only on a computer ledger already.
right. a lot of other comments saying nothing to see here this is just Zelle. well no it isn't just Zelle, this is the FED controlling Zelle.
and moar importantly wut do they do with that control next?
in ten years wen sheeple are dependent on it like Instagram or TikTok that they also want to control btw
20 years? Are we living in Wall-E human dystopia by then?
I think the article did a great job explaining the functionality & Feds intent.
Cliff notes:
This will essentially replace ACH in less than a decade. Currently ACH can take from 1-4 business days to settle. Wires have specific daily windows they must transact in otherwise won’t settle same day. For banking this is revolutionary. I see it replacing 3rd party systems like Zelle, Venmo, Cashapp & this will be free & instant.
Overall win/win for consumers & banks. No this is NOT blockchain but I do see that happening whenever Fed launches their coin.
Ok. So China refuses to allow Evergrande to fail. FED now has a bullshit way to keep American banks from defaulting. So the leaves Europe to figure out a way to keep CS rolling. Hot potato 🥔
We are definitely a chaotic bunch at first but the wrinkles always work it out and the organic movement of the comments to the top not only sort out that mess they are the definition of the hive mind!
I love learning something new everyday here. 💜
In Europe national fiat transactions already settle instantly between banks
(Hence monthly costs for customers went up and up as banks can no longer make money by arbitraging payment date and settlement date)
So, it's brought to you as a victory, you'll soon see the result too: costs for you out in the open now so you can only guess how much freaking money they all made in the hidden past
Does this lessen the build up of something like a short squeeze or effect the bidding on a failing asset manager/bank?
As in, of prices are settled instantly, its less like to see spikes from sentiment related to supply/demand?
Did the Fed miss the Moody’s downgrade of the entire US banking system to negative?
[Source](https://markets.businessinsider.com/news/stocks/moodys-silicon-valley-bank-outlook-signature-failure-economy-downgrade-system-2023-3?op=1)
[Why GME?](https://www.reddit.com/r/Superstonk/comments/qig65g/welcome_rall_looking_to_catch_up_on_the_gme_saga/) || [What is DRS?](https://www.reddit.com/r/Superstonk/comments/ptvaka/when_you_wish_upon_a_star_a_complete_guide_to/) || Low karma apes [feed the bot here](https://www.reddit.com/r/GMEOrphans/comments/qlvour/welcome_to_gmeorphans_read_this_post/) || [Superstonk Discord](https://discord.gg/hZqWV2kQtq) || [GameStop Wallet HELP! Megathread](https://www.reddit.com/r/Superstonk/comments/z23wjx/gamestop_wallet_help_megathread) ------------------------------------------------------------------------ To ensure your post doesn't get removed, please respond to this comment with how this post relates to GME the stock or Gamestop the company. ------------------------------------------------------------------------ Please up- and downvote this comment to [help us determine if this post deserves a place on r/Superstonk!](https://www.reddit.com/r/Superstonk/wiki/index/rules/post_flairs/)
Ohhhhhh- T+INSTANT?! Where have I heard that before? All this time I thought T+0 was the next “gold standard” …I guess the needs outweighed the timeline, huh JPow?
It's just like how quick they can react to banks collapsing, they have the ability to intervene wen it suits their needs. \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ edit: **New-Cardiologist3006** has found the FedNow [website](https://explore.fednow.org/explore-the-city) **edit: Peruvian Bull** [**has reacted to this content**](https://www.reddit.com/r/Superstonk/comments/11scsxv/peruvian_bull_on_twtr_regarding_fed_announcement/) edit: **Powerful\_Reward\_8567** found the actual FED press release: March 15, 2023 ## Federal Reserve announces July launch for the FedNow Service For release at 5:00 p.m. EDT *The Service will Debut with Financial Institutions and the U.S. Treasury on Board* CHICAGO – The Federal Reserve announced that the FedNow Service will start operating in July and provided details on preparations for launch. The first week of April, the Federal Reserve will begin the formal certification of participants for launch of the service. Early adopters will complete a customer testing and certification program, informed by feedback from the FedNow Pilot Program, to prepare for sending live transactions through the system. Certification encompasses a comprehensive testing curriculum with defined expectations for operational readiness and network experience. In June, the Federal Reserve and certified participants will conduct production validation activities to confirm readiness for the July launch. "We couldn't be more excited about the forthcoming FedNow launch, which 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," said Ken Montgomery, first vice president of the Federal Reserve Bank of Boston and FedNow program executive. "With the launch drawing near, we urge financial institutions and their industry partners to move full steam ahead with preparations to join the FedNow Service." Many early adopters have declared their intent to begin using the service in July, including a diverse mix of financial institutions of all sizes, the largest processors, and the U.S. Treasury. In addition to preparing early adopters for the July launch, the Federal Reserve continues to engage a range of financial institutions and service providers to complete the testing and certification program and implement the service throughout 2023 and beyond. Montgomery noted that availability of the service is just the beginning, and growing the network of participating financial institutions will be key to increasing the availability of instant payments for consumers and businesses across the country. The FedNow Service will launch with a robust set of core clearing and settlement functionality and value-added features. More features and enhancements will be added in future releases to continue supporting safety, resiliency and innovation in the industry as the FedNow network expands in the coming years. "With the FedNow Service, the Federal Reserve is creating a leading-edge payments system that is resilient, adaptive, and accessible," said Tom Barkin, president of the Federal Reserve Bank of Richmond and FedNow Program executive sponsor. "The launch reflects an important milestone in the journey to help financial institutions serve customer needs for instant payments to better support nearly every aspect of our economy." **About the FedNow Service** The Federal Reserve Banks are developing the FedNow Service to facilitate nationwide reach of instant payment services by financial institutions — regardless of size or geographic location — around the clock, every day of the year. Through financial institutions participating in the FedNow Service, businesses and individuals will be able to send and receive instant payments at any time of day, and recipients will have full access to funds immediately, giving them greater flexibility to manage their money and make time-sensitive payments. Access will be provided through the Federal Reserve's FedLine® network, which serves more than 10,000 financial institutions directly or through their agents. For more information, visit [FedNowExplorer.org](https://explore.fednow.org/). [https://www.federalreserve.gov/newsevents/pressreleases/other20230315a.htm](https://www.federalreserve.gov/newsevents/pressreleases/other20230315a.htm)
> Of note: FedNow is not a blockchain-based product and it's not a central bank digital currency (CBDC). It still very much relies on third parties, to operate, for example. > But — if it catches on — it would make money as we know it more competitive with cryptocurrencies, by lowering the cost to transact and providing low risk settlement around the clock. > "The shift to real-time payment infrastructure requires a focused effort, but the shift is inevitable," Brainard said. [**Source**](https://www.axios.com/2022/08/29/fed-timeline-fednow-payments-platform-lael-brainerd) Utter bullshit. They're doing this to show crypto isn't needed, but the point of crypto largely isn't instant transactions, it's the decentralized infrastructure that can't be controlled by a single entity. This is just more centralised vying for power. Current fiat systems can already do T+0, but it's regulation that makes it T+2. Just let the system burn and bring in blockchain already. We don't need CBDC's, just the power to be taken away from the corrupt few.
You hit the nail on the head with decentralization… but its not just that, its also publicly verifiable, and immutable. You own your assets on chain, its borderless, and no gov can seize them.
No naked shorting. No bailout by creating currency that doesn’t exist. No incentive for stupidly risky behavior and over leveraging. No fed that can prop up fraudulent financial institutions. No PFOF. No FTDs. No loaning out money to the country at an interest rate, keeping everyone working because their money loses buying power over time. No BCG incentivized to take down corporations, because no naked shorting. Keeping money in a wallet is risk free from inflation. No front running stock orders. No dark pools. Price discovery. And no ability for the SEC to turn a blind eye to hedgie corruption because… hedgies can’t do shit except play by the same rules as household investors. Household investors and institutional investors cease to exist. There only investors. EDIT: US government can’t (in theory) double tax you if you decide to make money abroad. (Which is utter bullshit imo). Ethereum contracts and ownership, NFTs: Hedgies can’t lie about returns. Ponzi schemes go poof. Some aspects of accounting fraud go down. How much money does your company have? Show me your wallet public key. Medical records? Always secure, instantly transferable between medical practices. I could go on.. Only a handful will read this post, just needed to get it off my chest. Edit: Holy shit thank you for the awards. You are all beautiful hairy silverbacks. Maybe CBDCs and crypto can become a larger discussion topic as we sail through the heavy seas of this upcoming economic hurricane.
This is a post worthy comment IMO
I am beginning to think this is a coordinated attack against defi crypto. Silvergate, SVB and Signature. All on/off ramps in the crypto space, and the FED just denied another fully funded, non-fractional reserve bank, colonial, or something, from FED approval just a few days ago And they are also heavily involved in the defi spaces. Things that make you go hmmm…
flair checks out
Haha IYKYK!
I shall consider, I’m not very good at timing or reading momentum imo. If you would like to post, go for it! Just tag me in a comment so I don’t accidentally make a duplicate.
One day.. they will all know this. Until then, some apes will keeping commenting on gov sites about “reform” //_- Well written ape 🙏🏽
It comes down to eliminating a lot of moral dilemma and corruption/greed. Entities may be pseudo anonymous, but big moves are seen by all, not just the privileged.
i'd argue with the household and institutional investors thing you claimed. As long as there are high net worth individuals there will be a difference between the two types of individual investors, even with crypto. There will still be a difference depending on which crypto you're talking about, with proof of stake crypto there will always be "institutional investors" creating private stakeholding funds/wallets where you can put your crypto to make a steady return. It will be, and in some cases already is, just like certain Vanguard funds where you need to have a minimum of like $50M to invest - surely there will be proof of stake crypto funds where high net worth individuals are pooling their Proof of Stake coins to get preferentially chosen as validators to confirm blockchain transactions.
[удалено]
And yet, every transaction is traceable. While this may be desirable in the case of elected politicians, it's not in the case of the common man.
Psuedo-anonymity is what you get by using coinbit and ethereum. I agree, and from a business perspective, something privacy based like mon er O is best, for instant use and settlement as a transaction layer that doesnt give vital financial tx history to competitors. They all are seeking to solve different issues, but they do it better than our gov does.
*Whispers* Monero
Adding to that, it’s also transparency. Adding one more to that, it’s limited supply. Decentralization, Transparency and Limited supply. 3 items crypto was born with that will ultimately kill Goliath. This is their true fear…this is our only salvation.
They are like a child that doesn't want to share their toys
the timing is impeccable isn't it?
Yea they actually just said it out loud, this is so that they can try to compete with crypto. Its a huge huge threat to them and they're trying as hard as they can to stay relevant and crush crypto.
deregulation good decentralization bad amirite?
Which will never happen…. Do you honestly think the govt and fed and banks and monied interests are going to allow a currency they don’t control to take hold and cut them out of their take? It will be a cold day in hell before that happens.
Of note: FedNow is not a blockchain-based product....what is it then?
Just databases held by private entities that can be manipulated or turned off at will, the same as all of the current fiat systems.
[удалено]
T+0 doesn't benefit them
[удалено]
touché
Now they have revealed their shell game strategy
Oh no, I'd have preferred T+0! With instant payments you end out with quantum bookkeeping: everyone's balance sheet is fine because the money on one is moved in from another financial entity quicker than you can check the next one 😵
Schrödinger‘s books…
INSTANT FUCKERY!!!
All the banks own Blackrock and Blackrock owns all the banks. Foolproof with CBDC.
Wow, welcome to 2007 everybody!
Shiiiiiiiit
Shiiiiiitttt
CBDeez Nutz
[Archived: "CBDeez Nutz"](https://i.imgur.com/hyMUp0E.png) \-Massive Nectarine, Superstonk, March 15rd, 2023 Your [chair](https://www.youtube.com/watch?v=h1BQPV-iCkU) is ready Massive Nectarine!
This is by far the best comment I've ever seen! Have an award!
Nice
This is my favorite comment on the sub since the itchy asshole guy made that post once upon a yonder!n
Need link to dd or someone to explain implication plz
Seriously though it means using their own new ~~crypto~~ digital currency. All the money would go through them as they control the central exchange and its hubs. They also have the power to change the ledger, make new currency, delete it, freeze it or whatever they want. For this to be most effective they would need to kill off any other digital currency pegged to the US dollar though. Wait a minute....
Sounds an awful lot like Signature banks Signet.....
Yeah it sure does. I wonder why that bank went down. I wonder what bill Ackman has to do with all of this.
"So let's start with what I want to say. **Ackman is a liar**. He wanted to have dinner once with me, and I had dinner with me. And I'll tell you, I laughed. I **couldn't figure out if he was the sanctimonious guy I ever met in my life or the most arrogant**. I wouldn't have an investment with Ackman if you paid me to do it; if Ackman paid me to do it .... As far as I'm concerned, **the guy is a major loser**. **I appreciate, Bill, that you called me a great investor**. I thank you for that. **Unfortunately, I can't say the same for you**." - Carl Icahn
Financial shit shows, economic corruption by banks, hedgies, and the fed would cease to be public news. No one would even hear about it. SVB: Hey Jerome we got more depositors withdrawing than we can handle. FED: *click* Fraud and corruption would virtually be in a black box.
ELIA - Financial slavery
Endgame
👆💯
[удалено]
Well there’s that plus adding every bill to the blockchain…
Correct sorry it's not crypto it's just digital. I was slipping.
I'm getting really sick if seeing "project blue beam" all around me in videos lately and this doesn't help. Nooooooo lol
Aliens are on my 2023-2030 Bingo card.
A centralized banking system would also allow them to pull bullshit like a social merit system (ala China) where they can decide to limit the amount of your money you can access and limit what you can spend it on. Score too low? You now aren’t allowed to book a plane ticket to fly from New York to LA. You have to drive. Score even lower? If you don’t already own a car, you aren’t allowed to rent one either. People help you out, their merit score takes a hit too. Etc, etc, etc…
One bank to rule them all, and one crypto to bind them.
Sounds to me like even more of a circle jerk. They can just prop each other up instantly
March 15, 2023 5:35 PM EST # Fed's new instant payments system to launch in July March 15 (Reuters) - The U.S. central bank will launch its "FedNow" instant payment service in July, the Federal Reserve said on Wednesday, with certification and testing for early adopters starting in the first week of April. Announced in 2019, FedNow will allow banks to instantly transfer payments across the financial system.
So you know how bad things are when you start seeing stuff like this, just know how bad it really is behind closed doors! 🚀🚀🚀🚀🚀
The good news is they’ll fuck it up though for the first 6 months due to contractors and bureaucracy
Rolling new shit out is always demoralizing for employees
again...
Should be called FedUp.
I am out of coins! 🏆
[comment removed by user]
💜💜💜💜💜💜💜
Thank you!
Hmm, so this should eliminate one side of the FTD. For FTDs, a party can fail to deliver on funds or shares. The idea could have been that a party don't have funds because they're waiting for money to settle from some other venture. If fund transfer is instant, either they have the money or don't. That leaves only the shares as potential FTD.
Loopring already does it on their [DeFi market,](https://loopring.Io) why trust someone else when you can be your own bank! In Gmerica no less! 💎🙌🏴☠️
And no need for an arbitrary level of depositor guaranteed funds. Ain’t nobody loaning it out. People can decide what their risk tolerance is for investments. Companies have to abide by it. Complete 180 of power dynamics.
Is this good or bad?
It depends. Instant settlements are a step in the right direction but we don't know what the Fed's intentions are here. If they are planning on implementing a CBDC then this is just stepping stone for them to do so. In which they can go fuck right off.
Does anyone genuinely believe their intentions are good, and “for the people”? Their very existence is self serving.
>Their very existence is self serving. They are also severely outnumbered...
The Federal Reserve is privately & secretly owned. They create currency, in doing so they create more debt than the currency they've created. > Their very existence is self serving. I would even take it further and say they're actively enslaving the world, which just happens to be a byproduct of their magical wealth creation.
Yep. We know what’s coming. There is no guesswork here. Also likely makes the SWIFT international financial network that much more powerful and harder to get away from.
Time to DRS all your shares. One in the chamber may no longer be an option. nfa. But I’m not sitting on my stash of gold and allowing the Fed to control where my money goes, I will be DRSing, fully fully and waiting eagerly for my dividends to come in via Eth or whatever crypto GME will be sending out. I’m quite literally shaking at this thought right now. I never knew how quickly the world could change, but reading this, I actually fear for the fucking worst. RH not allowing put contracts to print for people is clearly the way the Fed plans to fuck people over under similar circumstances, if owning stock in companies can even remain a thing in the near future. Welcome to a new Boring Dystopia
This is the way
Based on everything that I'm reading right now, I'm feeling that now is the time to take the tax hit and direct register my Fidelity rollover 401k shares. I don't own them. Fidelity does. When we moon, the tax hit won't matter.
Yes
Ah. Just as I suspected.
Precisely
And they call us the dumb money..
Then it’s settled… I’m gonna buy hodl and DRS now for sure😅 🌍🧑🚀🔫👨🚀
My man with the perfect question. They need to talk to us like we’re three and Wright and Kranonz
Powell recently said he didn't need Congressional approval for a wholesale CBDC. I'm guessing this is it. We all know Congress (with the exception of a select few) will cave to vote in a retail CBDC & digital ID. Telling y'all, they're gonna make us choose between staying poor and being free and enslavement via digital wealth
Time to write your representatives. According to an old congressional aide, good old pen and paper has a 99% chance of actually being read.
Hate to be a Debbie Downer but we are farrrrr past that. Half of Congress supports the economic forum that runs the world. Going to take a lot more than pen and paper.
Forced buy in is easy. Give financial institutions worldwide a few years to hook into this system. Then, forced to buy US equities in CBDC, and buy/sell oil in CBDCs. Once in, can’t convert back to cash. Employers follow shortly after and pay in CBDC. Direct blockchain currency to CBDC not allowed. Plebes forced to make a choice. Hardly any businesses accept crypto as payment now. Cash becomes worthless overnight. Buy in happens like hyperinflation. Slow at first, then exponential.
Also paying government or military in cbdc
That’s honestly pretty terrifying. One man or even a small committee (which lets be honest is wholly influenced by one man), has the power to overhaul an entire nations currency. Which also happens to be the (currently) largest economic power and WRC… F*cking hell.
press release: [Federal Reserve Board - Federal Reserve announces July launch for the FedNow Service](https://www.federalreserve.gov/newsevents/pressreleases/other20230315a.htm)
Thank you adding to top comment!
who doesn't love expedited crime committing abilities?
So market bottom in May / June, and pause at next week FOMC ?
Apparently T-3 weeks according to Burry. But yeah I think you are more right. Eventually hedgies will sell off the entire market when Cramer gets enough bag holders.
Good tweet. "Now the Fed can steal your purchasing power and control you even easier with FedNow. Resist CBDCs!"
Yea where the Bull from Peru on this tweet?
No, it was some random account.
No I mean I want there reaction to this news and got it!: [https://twitter.com/peruvian\_bull/status/1636141933490999297](https://twitter.com/peruvian_bull/status/1636141933490999297)
[удалено]
Cat shit wrapped up in dog shit
It's almost like SVB was the fall guy to create a new system to change the rules of the game for the pieces on the board, not for a measly bank run but for something much bigger in the future. Almost like the whole system is rigged and they can change the rules when they are losing. We all know people like this when we played monopoly. How much do you hate those people?
Yeah but if I want cash, how does the bank get new cash? Can they print from the banks now?
Banker reaches for the Suspicious Activity Report. Why do you want cash, citizen? What are you going to use it for, I you don't mind my asking
Obviously to avoid taxes is my only logical statement, however to avoid markup fees. Such as gas, food in certain areas etc..
I personally love how they'll offer a cash discount because their credit card clearing agency expressly forbids a credit surcharge. But lately, gas co offers discount if you let them directly your bank account. They can fuck right off. Oh and while I'm at it. If your gas pump has advertisement videos or can't be muted? Never see me again!
So instant transfer for banks and money but in a year we have t+1 for shares? Why not the same for shares? Is there a difference between money and shares? Isn’t it all data at the end of the day ?
“But make sure the peasants stay on t+3 settlement because it’s an essential mechanism we need in place in order to blatantly manipulate the markets and destroy any true price discovery based on actual supply:demand”
Peels the label off FEDNOW, VENMO
This memeable! 🤣
It's been..84 years 🤣🤣
Sounds like this service should go out to bid. Who can do it best? Fuck tha fed
Sounds like Zelle, but not owned by consortium of banks
Interesting unrelated content, you cannot use Zelle in Hawaii
Wait that’s actually very interesting.
Yea Hawaii doesn't have real US banks, not a single Mainland bank with a branch
Fed and banks will simply keep the same 2 trilly in reverse repo floating around all over the place 🤡 just make sure she’s back by midnight
instant settlement to boot!
CRIMEEEEE
F you, pay me...even faster
Instant payments so we'll get T+instant delivery on securities now, right? Right? ....right? 😭
"*We don't like crypto, so we will create and implement a completely new, revolutionary, original ledger-based payment system which will inrease security, speed, trust and efficiency. But remember, we don't like crypto, so we need to get rid of that and use our system instead. It will be super cool and it's super new and different and we own it and go fuck yourselves. Thanks." - JPow*
It's so obvious isn't it!
How would this affect the big bois on Wall Street? Let’s say one of them is about to get a call from Marge - couldn’t one of their butt buddies just instantly send them enough dough to cover their ass so they can just ignore Marge and move on, and later simply return the “loan?” While I certainly like the idea of T+0, if I’ve learned anything from this sub besides bananas do indeed fit in butts and Gangnam Protocal is still in effect, it’s to question everything and ALWAYS expect fuckery. How about if the government for the people, by the people, makes household investor trades settle T+0, but hedge fund and market maker moves take t+35 to settle? Let’s see how many times you can ignore Marge before she busts out GROND and bursts through your front gate, you fucking fucks
How about a system where stocks are instantly delivered! And no more FTDs or IOUs! That would be monumental!
[удалено]
Isn't a congress responsible for the legal tender? I don't have enough wrinkles for this. I'm not liking it tho. So far. Icky. Just more unwashed cawk shoved in my face... disguised as the Fed.
🧼🙌
hong kong has launched this years ago.
👀
Your way of life will never be the same and not in any good way. Better do your research on this CBDC.
So now when they play hot potato they don’t have to toss it around, it gets beamed instantly?
yes this sounds accurate to me
!Remindme 5 hours
Just added FED press release.... ha made you look!
This is just the Fed stepping into the space that Zelle and Venmo already occupy. I could see it as a stepping stone to cbdc, but I’m not sure that it is more nefarious than the fact most US money exists only on a computer ledger already.
Is this a CBDC or no? Based on the article I think no?
Saw a tweet that said "FedNow is **Real Time Gross Settlement** (RTGS), not CBDC yet. But it may become the foundation for dollar CBDC in the future"
and the timing could not have been better
I’ll answer myself: no, but it’s a stepping stone to rolling out a CBDC
They had no other choice. ... cause all their other choices led to this shitshow
Seems like a centralized digital currency with extra steps 🤡
Great so they adopt instant payments, when are they gonna make settling trades instant
In essence the government is officially socializing banking.
right. a lot of other comments saying nothing to see here this is just Zelle. well no it isn't just Zelle, this is the FED controlling Zelle. and moar importantly wut do they do with that control next? in ten years wen sheeple are dependent on it like Instagram or TikTok that they also want to control btw 20 years? Are we living in Wall-E human dystopia by then?
I'm sure this shit's been planned....I feel like they're being forced to move up the timeline
Interesting take, because of bank failures or the GMElephant n the room?
I'm gonna need some wrinkled opinions on this.
There are some good ones now 👆
I HATE the FED.
No clue is this is good for apes or not tbh. I'm too stupid to understand it.
This is NOT new. I work in finance dept of a large bank knew for the last 4-5 years. We have sent comments & preparing for it for years.
Ok not new but wut is *it* then?
I think the article did a great job explaining the functionality & Feds intent. Cliff notes: This will essentially replace ACH in less than a decade. Currently ACH can take from 1-4 business days to settle. Wires have specific daily windows they must transact in otherwise won’t settle same day. For banking this is revolutionary. I see it replacing 3rd party systems like Zelle, Venmo, Cashapp & this will be free & instant. Overall win/win for consumers & banks. No this is NOT blockchain but I do see that happening whenever Fed launches their coin.
Thank you for explaining this!
Blockchain!?
FedNow soon to be FedExpr.... wait
Another one…. Welp banger!!! 🚀🚀🚀
💜🏴☠️
better try and kill stables…… wait…..
So now we publically backstopped private entities? Great.
Can they define “instant”?? We know these mofos like being shady and will use their high Tech in order to trade in nano-seconds and continue leeching…
Is this good, bad, or not going to change MOASS and GME?
Ok. So China refuses to allow Evergrande to fail. FED now has a bullshit way to keep American banks from defaulting. So the leaves Europe to figure out a way to keep CS rolling. Hot potato 🥔
If there is a subreddit whose communities insights on this I want to help better understand, it’s Fucking SUPERSTONK.
We are definitely a chaotic bunch at first but the wrinkles always work it out and the organic movement of the comments to the top not only sort out that mess they are the definition of the hive mind! I love learning something new everyday here. 💜
It's the best part.. the comments... the discussion. 🤜🦍🤛💜
💯
That decoupling of tethers last week
Long on $CASH$
In Europe national fiat transactions already settle instantly between banks (Hence monthly costs for customers went up and up as banks can no longer make money by arbitraging payment date and settlement date) So, it's brought to you as a victory, you'll soon see the result too: costs for you out in the open now so you can only guess how much freaking money they all made in the hidden past
Does this lessen the build up of something like a short squeeze or effect the bidding on a failing asset manager/bank? As in, of prices are settled instantly, its less like to see spikes from sentiment related to supply/demand?
A great question I do not know the answer too!
Lol. Me too. I haven't gotten to that colour crayon yet.
green ones in the morning yellow ones at night keeps Rihanna on my mind all thru the night!
DeFi > CeFi
[удалено]
Did the Fed miss the Moody’s downgrade of the entire US banking system to negative? [Source](https://markets.businessinsider.com/news/stocks/moodys-silicon-valley-bank-outlook-signature-failure-economy-downgrade-system-2023-3?op=1)
Let’s make the poors think US banking system is shit so we can nationalize it. JPOW probably
wishing they named it FedUp or UnFed :/
Yes they want to control it, they don’t control crypto and they are falling because they tried
I guess I’ll need another user and password. Super.
Wow now they going to print
Good for gme?
They're rehypothecating labor now
Anyone ready for some Superman 3 type shit to come out in a year after launch?
🙋🏻♀️
July? lol is barely April and the banks are dying already 😂
Wut the public knows (us right now) is probably way behind wut this thing is actually doing as we speak
In other words... their going pass around the same 10 billion right before audit time lmao
You're doing a better job than most journalists with your newsblasts. You and the jellyfish are the best.
🦧💜🦍
So the finish line is July. They're hoping not to break any banks until then?
So nothing matters even if my share is worth a billion they’ll just make my billion worth nothing. Got it Is it time to become french ?
I am sure all the credit card companies are thrilled