• the new FedNow system..

    From Ogg@700:100/16 to spooknet.sn_conspiracy on Fri Mar 27 19:18:00 2026

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    ** Original area : "/FIDO2/CONSPRCY"
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    ** Original date/time : 27 Mar 26, 19:16 >==================================================================<

    FYI, y'all..

    From Web News <subscriptions@email.webnewsweekly.com>
    Date Today 5:08 pm

    The Federal Reserve is currently selling banks their new "FedNow" system with one major promise:


    "Transfers will happen instantly, 24 hours a day, 7 days a week, 365 days a year. No more weekend or holiday delays!"


    But there's a catch ...


    When your money moves instantly through a centralized government hub, it can also be frozen instantly.


    Imagine it is 6:00 p.m. on a Friday. You try to pay for dinner, buy groceries or pay your mortgage ... but your card is declined.


    FedNow is run by algorithms. And an automated algorithm inside the Fed's new network flagged a recent purchase or donation you made as "suspicious" or "non-compliant."


    The result? Your account is instantly locked.


    In the old banking system, you could walk into a branch and talk to a human manager to fix it. But on a Friday night, your local bank branch is closed, the manager is home with his family and a faceless government computer in Washington has left you helpless.


    You're completely cut off from your own money until Monday morning or later, with no way to pay for anything.


    This could be the reality of the new system outlined in Federal Reserve Docket No. OP-1670.


    Over 1,500 banks have already surrendered to it.


    Don't let your savings get caught in this automated government web.


    You don't need to switch banks or close your accounts. You just need to structure your wealth so a government algorithm cannot lock you out of your life savings on a Friday night.


    P.S. The Fed wants you to focus on the convenience of instant transfers. They don't want you thinking about the possibility of an instant freeze. Once your bank is fully plugged into FedNow, you're at the mercy of their algorithms.
    ?

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  • From k9zw@700:100/37 to Ogg on Tue Mar 31 14:54:21 2026
    On 27 Mar 2026, Ogg said the following...

    The Federal Reserve is currently selling banks their new "FedNow" system with one major promise:

    But there's a catch ...

    When your money moves instantly through a centralized government hub, it can also be frozen instantly.

    Hence laid out is the difference between fiat currency with physical tokenization and fiat currency without (electronic currency).

    It is all about Control.

    A strong secondary reason the move to eMoney is being pushed, is eMoney gets skimmed at every transaction. Transaction fees are a couple percentage cost to using eMoney.

    ... I am NOT a tagline THIEF. I am a tagline CONSERVATIONIST.

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  • From roman@700:100/72 to k9zw on Tue Mar 31 16:40:22 2026
    It's an old shitty idea from the 80's, passing on the overhead of customer service to the customers themselves.

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  • From k9zw@700:100/37 to roman on Wed Apr 1 13:06:27 2026
    On 31 Mar 2026, roman said the following...

    It's an old shitty idea from the 80's, passing on the overhead of
    customer service to the customers themselves.

    Seems rather intentional to burden every transaction with a "fee/tax."

    Add that every transaction becomes "permissive" in that you can be prevented from making the transaction by "control," from the consumer viewpoint the transaction system is a really bad deal.

    The consumer both pays for the system and accepts that others control the utility of their monies.

    ... A social life? Where can I download that!?

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  • From roman@700:100/72 to k9zw on Wed Apr 1 14:07:33 2026
    I don't know what it's called in the USA, but in general it's "itching palm"

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