FedNow - A Slippery Slope Toward CBDC

FedNow - A Slippery Slope Toward CBDC


It seems the Federal Reserve wants to get into the game of instant payment services.  FedNow is scheduled to launch in July 2023.  It’s the first step in acclimating the public to interact directly with the Federal Reserve.  By downloading the FedNow App, you will be able to make instant payments from one bank account to another.  But what is the cost of this convenience? What does this mean for our financial privacy?  Will the CBDC (Central Bank Digital Currencies) be a programmable currency that could restrict our purchases?

PayPal, Venmo, and Zelle - welcome your new competitor, the Federal Reserve.  FedNow is joining the private-sector instant payment services by offering 24/7/365 flexible payment transactions.  “The Federal Reserve believes generating competition can result in efficiencies related to pricing, service quality and innovation, benefitting service providers and end users.”[i]  Hmmm, I sense a bait-and-switch.

FedNow is a stepping stone to a U.S. CBDC.  The public has never had a direct interface with the Federal Reserve.  Pew Research shows that 19% of Americans trust the government to “do what is right” most of the time.[ii]  This is down from 24% the year before.  Public trust in the government is nearing historic lows.  While the Federal Reserve is NOT a government agency, most people believe it is, so it’s safe to assume that 81% of Americans distrust the Federal Reserve.  One way the Federal Reserve can alter this perception is to mimic the convenience of private-sector instant payment services.  Federal Reserve Chairman Jerome Powell says “What FedNow will do is it will enable all the banks, any bank in the United States – not just the big ones – to offer instantly available funds and real-time payments to their customers.”[iii]

We have become accustomed to the convenience of Paypal, Venmo, and Zelle, if FedNow becomes just as accessible, it could eliminate people’s hesitation toward the Federal Reserve. Essentially, the Federal Reserve is grooming the public to believe they have our best interests in mind.  After all, more competition will keep the other companies honest with their fee for services, right?  Well, yes but we must realize that FedNow is a “public payment option framed in direct competition to a private sector innovation.  It is particularly troubling given that the Fed itself… can determine the legal and regulatory status of its own competition.”[iv]  FedNow is a slippery slope toward the implementation of a U.S. CBDC.


I’m guessing you’ve seen some of the recent headlines about de-dollarization. What impact could this have on our daily lives?   First, we should be aware that the pace at which the dollar is being sidelined by other countries is moving rapidly.  “The greenback’s share in global reserves slid last year at 10 times the average speed of the past two decades as a number of countries looked for alternatives after Russia’s invasion of Ukraine triggered sanctions.”[v]  This is a drastic change for the U.S. dollar which has held the position of reserve currency since WWII. 

In 1944, “the Brenton Woods agreement crowned the dollar as the world’s reserve currency. In turn, the U.S. agreed that foreign central banks could redeem the dollar in gold at a price of $35 per ounce. In a nutshell, the Brenton Woods agreement resulted in foreign currencies being pegged to the dollar instead of gold, and the dollar was pegged to gold.”[vi]  Then in 1971, Nixon severed the tie between the U.S. dollar and gold; the U.S. dollar became a fiat currency backed by nothing.  Subsequently, this forced all other currencies to become fiat currencies.

The demise of the dollar is a necessary step toward the CBDC.  If the greenback falters, the public is more apt to accept a digital currency. 

The Federal Reserve’s report on digital currencies (January 2022) states:

“Another potential benefit of a U.S.-issued CBDC could be to preserve the dominant international role of the U.S. dollar. The dollar is the world’s most widely used currency for payments and investments; it also serves as the world’s reserve currency. The dollar’s international role benefits the United States by, among other things, lowering transaction and borrowing costs for U.S. households, businesses, and government. The dollar’s international role also allows the United States to influence standards for the global monetary system.

Today, the dollar is widely used across the globe because of the depth and liquidity of U.S. financial markets, the size and openness of the U.S. economy, and international trust in U.S. institutions and rule of law. It is important, however, to consider the implications of a potential future state in which many foreign countries and currency unions may have introduced CBDCs. Some have suggested that, if these new CBDCs were more attractive than existing forms of the U.S. dollar, global use of the dollar could decrease—and a U.S. CBDC might help preserve the international role of the dollar.”[vii]


CBDCs are somewhat like blockchain products, such as Bitcoin, however, they are directly controlled by the central banks.  Central bankers claim that CBDCs would fix the ills of global finance by addressing the following issues: 

  • increase financial inclusion and equity
  • reduce illegal activity tied to cryptocurrencies, such as money laundering and terrorist financing
  • increase monetary stability
  • improve climate sensitivity
  • enable more efficient payment systems

Interestingly, a recent FDIC report shows that only 5.4% of Americans do not have bank accounts, which is the lowest in history.[viii]  Consequently, the idea that a U.S. CBDC would increase financial inclusion and equity is a moot point given 94.6% of Americans participate in the financial system.  Why would we create such an upheaval in our monetary system for 5.4% of Americans?  Additionally, despite the horror stories of criminal activity tied to cryptocurrency, it turns out that “illicit transactions” account for less than 1% of crypto transactions from 2017-2020.[ix]  With this in mind, an honest assessment acknowledges that a U.S. CBDC is really “a solution in search of a problem.”

The BIS (Bank for International Settlements) is at the forefront of promoting CBDCs. This should come as no surprise.  After all, they are the “central bank of central banks.”  It is in their best interest to promote CBDCs as a stepping stone to a one-world currency that they control.  The BIS estimates that 81 central banks are amid rolling out CBDCs.[x] 

Agustin Carstens, General Manager of the BIS, explains the difference between cash and CBDC.  He states, “In cash, for example, we don’t know who’s using a one-hundred-dollar bill… A key difference with the CBDC is that the central bank will have absolute control over the rules and regulations that will determine the use of that expression of central bank liability and also we will have the technology to enforce that.”[xi]

As you can see from Carstens’ candor, cashless societies lend themselves to Orwellian conditions.  “If implemented, CBDCs will increase governments’ financial regulatory power, with implications from macroeconomics to cybersecurity to financial privacy.”[xii]

Some may be deceived into thinking that a U.S. CBDC is just the U.S. dollar in digital format.  It is NOT!  The CBDC will not exist in physical form like cash.  You won’t be able to hold it in your hand or give it to your children to buy an ice cream cone.  The CBDC is “an entirely new currency that would, at least at first, exist alongside today’s currency.  Similar to cash, the CBDC would be used to pay for goods and services and would likely be managed by the Federal Reserve.”[xiii] 

CBDCs have the capability of being traceable and programmable. This, of course, is not good news. We know that the government has had a dismal track record for safekeeping sensitive information.

Designable Currency

Imagine a currency that is designed by computer programmers to have specific rules and limitations attached to it.  The design metrics of this new currency will have nothing to do with what the currency physically looks like, instead, it will encode the currency with rules determined by the designer.  Let’s pause for a minute to grasp the magnitude of this…  

In a moment of transparency, Tom Mutton, the director of the Bank of England, stated:

“You could introduce programmability – what happens if one of the participants in a transaction puts a restriction on [future use of the money]?  There could be some socially beneficial outcomes from that, preventing activity which is seen to be socially harmful in some way.  But at the same time, it could be a restriction on people’s freedom.”[xiv]

Hold the phone!  Someone could put restrictions on the further use of my money based on social behaviors THEY deem harmful?  Yikes!  I don’t like the sound of that.  Especially given we live in a culture that has labeled moms, who stand up for parental rights, as “domestic terrorists.”   With a U.S. CBDC, our money would be tracked and our purchases recorded. This leads to unprecedented, centralized control.  CBDCs would give global elites leverage to tighten their grip on the public using the vise of algorithms. 

Currently, the Federal Reserve is addressing numerous design questions regarding a U.S. CBDC. One such question is “Should the amount of CBDC held by a single end-user be subject to quantity limits?”[xv]  Wait. What?  Quantity limits?  This sounds like the redistribution of wealth, i.e., SOCIALISM!

Consider Biden’s Executive Order on “Ensuring Responsible Development of Digital Assets” which includes a report to specifically address “potential uses of blockchain that could support monitoring or mitigating technologies to climate impacts, such as exchanging of liabilities for greenhouse gas emission, water, and other natural or environmental assets.”[xvi]  Now follow this line of thinking a few more steps; if we don’t toe the line with respect to climate issues, access to our money could be limited or dare I say, cut off.   In conjunction with technologies like Amazon One which allows you to pay with the scan of your palm or Walletmor’s chip that uses near-field communication (NFC) enabling payment with the wave of a hand, it appears we are marching ever closer to what is described in the book of Revelation – the mark of the beast.

Revelation 13:16-18 “It also forced all people, great and small, rich and poor, free and slave, to receive a mark on their right hands or on their foreheads, so that they could not buy or sell unless they had the mark, which is the name of the beast or the number of its name.  This calls for wisdom.  Let the person who has insight calculate the number of the beast, for it is the number of a man.  That number is 666.”

Certainly, there are some Christians who believe there is no point in laboring for conditions to improve because Scripture tells us that the world will continue to darken until the end.  Consider this though, generations before us believed they too were living in the end times even though they were not.  If those generations took a laisse-faire approach, we might never have known peace in our land, just continual war.  So, we choose to fight in this spiritual battle for the sake of our children and our grandchildren.  We are called to stand for righteousness, peace, and justice UNTIL Jesus returns. 

Isaiah 1:17 “Learn to do good, seek justice, correct oppression, bring justice to the fatherless, plead the widow’s case.

Psalm 106:3 “Blessed are they who observe justice, who do righteousness at all times!”

Isaiah 61:8 “For I the Lord love justice; I hate robbery and wrong; I will faithfully give them their recompense, and I will make an everlasting covenant with them.”   

Take Action

What can we do to stop this train from reaching its destination of technocratic tyranny?  Reignite Freedom has initiated a “Global Walk Out” which are actionable steps that can thwart the plans of the Nephilim Hosts (globalists).  These include:

  • using cash instead of cards
  • educating others about digital ID
  • avoiding self-checkouts or QR codes
  • having cash on hand
  • supporting smaller banks
  • reigniting farming
  • installing a landline
  • conscious buying

For further explanation of these, visit www.globalwalkout.com/steps.

On March 21, 2023, Senator Ted Cruz introduced bill S. 887 to prohibit a U.S. CBDC.  Senator Cruz states:

“The federal government has no authority to unilaterally establish a central bank currency.  This bill goes a long way in making sure big government doesn’t attempt to centralize or control cryptocurrency and instead, allows it to thrive in the United States.  We should be empowering entrepreneurs, enabling innovation, and increasing individual freedom – not stifling it.”[xvii]

This bill needs our support.  We can write our legislators to exhort them to support S. 887.  Also, please help to educate others about FedNow and CBDCs. Send this article to family and friends to make them aware of what is rapidly approaching.  We need all hands on deck!

Written by Laura Sanger, Ph.D.


[i] The Federal Reserve.  FedNow Service: A foundation for an instant payments world.  Retrieved from www.frbservices.org.

[ii] Pew Research Center (June 6, 2022).  Public Trust in Government: 1958-2022.  Retrieved from https://www.pewresearch.org/politics/2022/06/06/public-trust-in-government-1958-2022/

[iii] Weiner, C. (March 10, 2023).  The Fed is Rewiring the U.S. Payments System – Here’s What That Means for You.  Forbes Advisor.  Retrieved from https://www.forbes.com/advisor/personal-finance/fednow-launching-soon/


[iv] Jossey, P. H. (February 2, 2022).  Central Bank Digital Currencies Threaten Global Stability and Financial Privacy.  Comprehensive Enterprise Institute.  Retrieved from https://cei.org/studies/central-bank-digital-currencies-threaten-global-stability-and-financial-privacy/


[v] Durden, T. (April 24, 2023).  It's A "Defund-The-Global-Police" Moment, Jen Says De-Dollarization Is Happening At A "Stunning" Pace.  ZeroHedge.  Retrieved from https://www.zerohedge.com/geopolitical/its-defund-global-police-moment-jen-says-de-dollarization-happening-stunning-pace

[vi] Sanger, L. (2020). The Roots of the Federal Reserve.  Dallas, TX:  Relentlessly Creative Books.

[vii] Board of Governors of the Federal Reserve System (January 2022).  Money and Payments:  The U.S. Dollar in the Age of Digital Transformation.  Retrieved from https://www.federalreserve.gov/publications/files/money-and-payments-20220120.pdf


[viii] Kutzbach. M., Lloro, A., Weinstein, J., Chu, K. (2020).  How America Banks: Household Use of Banking and Financial Services.  2019 FDIC Survey.  Retrieved from https://www.fdic.gov/analysis/household-survey/2019execsum.pdf


[ix] Jossey, P. H. (February 2, 2022).  Central bank Digital Currencies Threaten Global Stability and Financial Privacy.  Comprehensive Enterprise Institute.  Retrieved from https://cei.org/studies/central-bank-digital-currencies-threaten-global-stability-and-financial-privacy/


[x] Smith, B. (April 10, 2023).  Project Icebreaker:  The Beginning Of A One World Digital Currency System?  Retrieved from https://alt-market.us/project-icebreaker-the-beginning-of-a-one-world-digital-currency-system/


[xi] Light Overcomes Darkness (January 1, 2021).  Bank for International Settlements Head Agustin Carstens About CBDC and Control [Video] YouTube. https://www.youtube.com/watch?v=rpNnTuK5JJU


[xii] Jossey, P. H. (February 2, 2022).  Central bank Digital Currencies Threaten Global Stability and Financial Privacy.  Comprehensive Enterprise Institute.  Retrieved from https://cei.org/studies/central-bank-digital-currencies-threaten-global-stability-and-financial-privacy/


[xiii] Haskins, J. (3/6/22).  Biden is planning a new digital currency.  Here’s why you should be very worried.  The Hill.  Retrieved from https://thehill.com/opinion/finance/599768-biden-is-planning-a-new-digital-currency-heres-why-you-should-be-very-worried/

[xiv] Wallace, T. (June 21, 2021).  Bank of England Tells Ministers To Intervene On Digitial Currency ‘Programming’.  The Telegraph.  Retrieved from https://www.telegraph.co.uk/business/2021/06/21/bank-england-tells-ministers-intervene-digital-currency-programming/


[xv] Board of Governors of the Federal Reserve System (January 2022).  Money and Payments:  The U.S. Dollar in the Age of Digital Transformation.  Research and Analysis – Board of Governors of the Federal Reserve System.  Retrieved from https://www.federalreserve.gov/publications/files/money-and-payments-20220120.pdf


[xvi] The White House (March 9, 2022).  Executive Order on Ensuring Responsible Development of Digital Assets.  White House Briefing Room.  Retrieved from https://www.whitehouse.gov/briefing-room/presidential-actions/2022/03/09/executive-order-on-ensuring-responsible-development-of-digital-assets/


[xvii] Cruz, T. (March 21, 2023).  Sen. Cruz Introduces Legislation to Prohibit the Fed From Establishing a Central Bank Digital Currency.  Press Release Senator Cruz.  Retrieved from https://www.cruz.senate.gov/newsroom/press-releases/sen-cruz-introduces-legislation-to-prohibit-the-fed-from-establishing-a-central-bank-digital-currency


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