The Fed Wants to End Money as We Know It

[Inside Wall Street with Nomi Prins]( Welcome to Inside Wall Street with Nomi Prins! It’s the only daily newsletter featuring the insights of renowned author and former Wall Street insider, Nomi Prins. Every day, Nomi shines a light on a massive wealth transfer she calls The Great Distortion. That’s the true cause of the permanent disconnect she sees between the markets and the real economy. And she shares ways you can come out ahead, if you know where the money is flowing. You’ll find all Nomi’s Inside Wall Street issues [here](. If you have questions or comments, send Nomi a note anytime [here]( or at feedback@rogueeconomics.com. The Fed Wants to End Money as We Know It By Nomi Prins, Editor, Inside Wall Street with Nomi Prins The Federal Reserve is taking a giant step closer to the creation of a central bank digital currency (CBDC). Its new digital payments system, FedNow, will debut in July. According to Richmond Fed President Tom Barkin, it will create “a leading-edge payments system that is resilient, adaptive, and accessible.” Now, if you’re a regular reader, you probably knew this was coming. I’ve written before about the government’s desire to move away from physical cash and towards a central bank digital currency (CBDC). But that desire had been pretty wishy-washy up until this point. That’s no longer the case… So today and tomorrow, I want to pull back the curtain on this crucial development and show you what it means for your money. I’ll also discuss how you don’t have to sit on the sidelines and wait for the CBDC trend to unfold. In fact, you can start preparing yourself for what’s coming now... Recommended Link [A personal message from trader Larry Benedict]( [image]( Hi. Larry Benedict here. You’ve probably seen my name pop up a few times on emails lately. That’s because for Memorial Day, we are having a ridiculous sale on my financial research service, One Ticker Trader. It’s so crazy, it’s hard to believe anyone would intentionally pass it up. It’s $7... That’s for a full year, 12 months of trading insights. That’s 96% off our regular retail price of $199. And today is the last day to get this price. So, if you are looking to jump-start your financial future... I can help. And for just $7 for the whole year, you can’t afford to pass this up. The offer ends at midnight. [Get it here.]( -- The Newest Addition to the Payments Ecosystem As a reminder, a CBDC is a currency that would not be printed. It would only exist in cyberspace, allowing consumers to transact without a bank account. However, it also gives the Fed and government almost unbreakable financial control over your life. For now, let’s take a step back and examine the Fed's new payment system... You see, the Fed wants FedNow to be recognizable as a payment method. It’ll be comparable to PayPal, Venmo, and Zelle. As such, FedNow will allow businesses and people to send and receive instant payments 24/7, 365 days of the year. This can be super useful in certain situations. Say a business needs a quick delivery of supplies... or someone has a bill coming up they want to pay immediately… They’d be able to fulfill these needs through FedNow. It enables settlements between banks in real time. Any bank eligible for Federal Reserve financial services – regardless of size – will be able to use FedNow. Here’s what Nick Stanescu, FedNow Business Executive, noted last October: FedNow is going to be a game-changer that is going to revolutionize payment systems in the U.S. Now, fintech apps like PayPal, Cash App, and Venmo, already transfer money from one party to another instantly. And, as you probably know, they’ve dominated the space. But here’s the big difference between the payment fintechs and FedNow… These apps can instantly transfer between themselves, but not into a user's bank account. Meanwhile, the Fed’s payments service will offer instantaneous payments to individuals’ and businesses’ bank accounts. And it will enable different kinds of transaction types, from an individual paying a merchant, businesses paying businesses, and beyond. Now, the Fed is doing this all in the name of leveling the playing field in the payments ecosystem. It wants to give smaller banks and credit unions a fighting chance in the payments arena. Yet, the Fed has a much bigger plan in mind... Recommended Link [Would you put your dollars here?]( Machines like the ones in this picture are popping up all across America. [image]( If you’ve been to a concert venue, stadium, or airport, you’ve almost certainly walked by one without knowing. The experts are calling it a ‘Reverse ATM’. They’ve been installed at places like Citizen’s Bank Ballpark in Philadelphia… They’ve even been used at the Super Bowl. Why are these machines suddenly appearing out of nowhere? And what does it mean for your money? We’ve recently arranged an interview with former Goldman Sachs managing director, Dr. Nomi Prins, to get her take. There’s nobody in America who’s more aware of the inner workings of the banking system. In the interview, [Dr. Prins explained these strange ‘reverse ATMs.’]( And she said she expects them to play a key role this Summer as our nation’s financial system is overhauled for the first time since 1971. According to her research, many Americans will be blindsided by what’s to come. BUT, folks who understand the ‘Reverse ATM’ phenomenon before it becomes obvious to the average American could actually profit in the weeks ahead. To help folks prepare, she’s recorded a briefing that explains exactly what she sees coming, how it will play out, and how much time you have to prepare. [Click here now to see Dr. Prins’ free presentation.]( -- FedNow Is a Precursor to a CBDC FedNow may not be a CBDC, but it’s a precursor to one. Here’s what Ken Montgomery, first vice president of the Federal Reserve Bank of Boston and FedNow program executive, said in the Fed’s announcement: 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. So, by the Fed’s own admission, this is just the beginning… The Fed is clever. By expanding its payments system to include more institutions, it can get people to rally behind an eventual Fedcoin. Keep in mind that FedNow is supposed to be a win for consumers… They’ll be able to make cheap and instantaneous payments. But there’s more to the story... Recommended Link [How Regular Americans Are Collecting Payouts From “Secret Royalty Programs”]( [image]( Shame on Wall Street! They’ve collected an estimated $17 billion in payouts from a unique investment Brad Thomas calls “Amazon’s secret royalty program…” But they never told you. In fact, you won’t find it listed anywhere on Amazon’s website… Because this is not endorsed by Amazon at all. Yet, by exploiting an IRS loophole (buried on page 1,794 of the U.S. tax code)… A small group of regular Americans have discovered how to collect consistent payouts from opportunities like this. “Started from a zero balance... Just hit $1,200 a month in [royalties].” – Neil P. “Increased my [royalties] to over $30,000 last year.” – Tom K. “Increased my [royalties] from about $2,000 to $60,000…” – Elaine T. If you want to participate, click the button below for details. The next payout deadline is scheduled for June 13th. [HURRY: Learn How YOU Can Collect the Next Payout Before June 13th.]( *Verified review. Past performance does not guarantee future results. -- The Benefits Don’t Outweigh the Dangers FedNow brings us closer to the rollout of the digital dollar. And as I’ve said before, a digital dollar could offer some benefits… It might come in handy if you need to receive a stimulus check… or apply for a government emergency loan for your business. A CBDC could even support new business models and provide a foundation to jumpstart innovations in the financial sector. But the benefits do not outweigh the potential dangers. With a digital dollar, the government could have complete knowledge of – and control over – every transaction you make. Tomorrow, I’ll dive into how a CBDC erodes your privacy and takes away your anonymity. I’ll explain the potential consequences of government overreach in our daily lives and how that can manifest for the average person. Lastly, I’ll show you one way you can prepare and protect yourself against this inevitable trend. Stay tuned for more. Regards, [signature] Nomi Prins Editor, Inside Wall Street with Nomi Prins P.S. A small group of powerful people are colluding to virtually “ban” cash – leading to the end of the dollar as we know it. It’s a plan that the Federal Reserve, the White House, and the financial elite are set to enact with the launch of the digital dollar. But I’ve found one asset that can help you become your own banker – and escape the clutches of this power grab. To learn more, watch a new video presentation I put together [right here](. --------------------------------------------------------------- Like what you’re reading? Send your thoughts to [feedback@rogueeconomics.com](mailto:feedback@rogueeconomics.com?subject=Inside Wall Street Feedback). MAILBAG On Wednesday of last week, Carole expressed her mistrust of nuclear power technology. Readers continue to reply with their opinions… Unfortunately, Carole is out of touch with the technological advances in nuclear technology and believes that it is dangerous. Like many, she is trapped in the past and remembers Chernobyl like it was yesterday. Of course the bought and paid-for media has much to do with this, so I cannot fault her for believing them. The technology is safe, and the new reactor designs cannot melt down catastrophically, and human error is also taken out of the equation. The energy is reliable, meaning it can be used for the baseload power that is required to power the planet. This cannot be said for wind or solar. The waste product is water. The green agenda, on the other hand, is based on politics and not science, and the people in it for commercial interests only is staggering. – Todd S. Very much enjoy reading your articles, especially those regarding nuclear energy. You are correct that nuclear power will be the technology that will prevent the worst side effects of a warming planet, and many nations are doing policy U-turns. Continuing to burn vast quantities of fossil fuels when we already have a clean alternative is very short-sighted and clearly makes nations highly dependent upon those that supply fossil fuels. Nuclear provides security like no other energy source. Carole’s reply is interesting. Having operated nuclear power plants for some years and been part of the industry for well over 50 years now, I am intrigued as to why she does not believe or trust people like me who have made it their life’s work to ensure nuclear power plants are safely operated. How is this technology “horrible for humanity” when, by every single measure, it is THE safest and least polluting means of generating electricity there is? Why would I move my family close to a nuclear power plant so that I could work there? Either I do not understand the risks (I do), or I am stupid (I am not). So, what is the basis upon which Carole and those with her mindset determine that they do not trust me? What is horrible for humanity is burning billions of tons of coal a year (China, USA, India, Indonesia, Australia, Germany), killing thousands of coal miners (China, India), digging up old, irreplaceable forests (Germany), and demolishing 13th century buildings to get at the coal beneath (Germany). Nuclear power produces none of those horrible outcomes. What’s horrible for humanity is killing numerous large birds of prey to the point of extinction (wind turbines) or killing large sea mammals due to the vibrations of wind turbines in the sea. Carole needs to define what exactly she means by “horrible for humanity” because, by all of the parameters which normal people consider horrible, nuclear power does none of them. I suggest also that, should she be so unfortunate as to require radiotherapy for the treatment of disease, she might give some thought to the people operating nuclear power plants who, every day, safely produce the radioisotopes that enable those treatments. I cannot imagine what thinking defines saving lives as horrible for humanity. – Malcolm R. Is FedNow the precursor to a Fed CBDC? Do you agree with Todd that the green agenda is “based on politics and not science”? Write us at feedback@rogueeconomics.com. IN CASE YOU MISSED IT… [“One-Stock Millionaire” IGNORES 99.9% of the Market]( During the 2008 financial crisis, millionaire trader Jeff Clark stunned the world when he managed to double his readers’ money 26 TIMES… CNBC caught wind of this and asked Jeff to come on live TV to explain his secret. Jeff politely said no. 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