The Federal Reserve's digital buck is a "scary" concept since it is all about having straight control over money and economic situation, said Brien Lundin, executive editor of the Gold E-newsletter and also the New Orleans Financial investment Seminar host.
As the Federal Get prepares to introduce an evaluation of a possible central bank digital currency (CBDC) soon, united state residents need to be familiar with all the adverse repercussions that could come from a FedCoin.
" That's scary to me. You can currently see the Federal Get beginning the public relations campaign to soften the public up for an electronic money, a FedCoin. And they will talk about a great deal of the advantages– transparencies of use, whatever that you see from the blockchain innovation. But behind all of that, there's control and the ability to regulate the economy, pull those levers a lot more exactly and also precisely than ever," Lundin informed Michelle Makori, editor-in-chief of Kitco News, on the sidelines of the New Orleans Investment Seminar.
Comply With Michelle Makori on Twitter: @MichelleMakori ()
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Fed's digital dollar is ‘scary’ — all about 'control' over currency, economy
The Federal Reserve's digital dollar is a "scary" concept because it is all about having direct control over currency and economy, said Brien Lundin, executive editor of the Gold Newsletter and the New Orleans Investment Conference host.
As the Federal Reserve prepares to launch a review of a possible central bank digital currency (CBDC) shortly, U.S. citizens need to be aware of all the negative consequences that could come from a FedCoin.
"That's scary to me. You can already see the Federal Reserve beginning the PR campaign to soften the public up for a digital currency, a FedCoin. And they will talk about a lot of the advantages — transparencies of use, everything that you see from the blockchain technology. But behind all of that, there's control and the ability to control the economy, pull those levers more exactly and precisely than ever before," Lundin told Michelle Makori, editor-in-chief of Kitco News, on the sidelines of the New Orleans Investment Conference.
Follow Michelle Makori on Twitter: @MichelleMakori (https://twitter.com/MichelleMakori) __________________________________________________________________ Kitco News is the world’s #1 source of metals market information. Our videos feature interviews with prominent industry figures to bring you market-affecting insights, with the goal of helping people make informed investment decisions.
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