Federal Reserve Chief Kashkari Trashes Central Bank Digital Currency (CBDC)

President/CEO Federal Reserve Bank of Minneapolis Neel Kashkari, Wiki

Neel Kashkari, the President/CEO Federal Reserve Bank of Minneapolis, said that Venmo, a digital currency, already exists so there is no need for central bank digital currency (CBDC). CBDC is bad because it can monitor and control financial transactions and can impose negative interest rates (a monetary policy tool that charges banks to store their cash at the central bank, instead of earning interest income). CBDC can impose a direct tax on accounts. Kashkari said there is no use for it.

When India implemented CBDC in 2016, 70% of the economy crashed. CBDC is a tool to implement a social credit system.

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Milton Farrow
Milton Farrow
3 months ago

MIGHT BE KASHKARI, BECAUSE THE PEOPLE NO LONGER TRUST THE FED TO MANAGE THE COUNTRY’S MONEY

Suzy
Suzy
3 months ago

Surprise surprise. The banksters are opposed to CBDCs, but not for the reason stated above. It’s because they won’t be able to use fractional reserve to steal from us. Or so I’ve heard.

terry shead
terry shead
3 months ago

Jimmy Dore is spot on if you want Freedom keep your Cash, don’t give it to these criminals!

Ragnar D.
Ragnar D.
3 months ago

The legacy fiat monetary system is reaching its predictable end. Max Keiser had commented several years ago that the banksters’ CBDCs would be dead-on-arrival. The small nation of El Salvador adopted Bitcoin as legal tender, and it’s rapidly becoming the new beacon of economic liberty of the world. We can’t all move to El Salvador, but there’s no reason why other nations can’t break free from the tyranny of the central banks in similar fashion. This will usher in the greatest era of peace and prosperity the world has ever seen.

Janet
Janet
3 months ago

Yikes, this guy might be saying the right things, right now but he has that ((look)), so not trusting him at all. His last name sounds like Cash and Carry