Fed Employees Spill the Beans

CBDCs are coming. But can they compete? [Altucher Confidential] August 19, 2022 [WEBSITE]( | [UNSUBSCRIBE]( A former employee at the San Francisco branch said it’s the ‘worst place I’ve ever worked’ adding that, ironically, ‘Raises don’t even keep up with inflation.’ [Hero_Image] Fed Employees Spill the Beans By Chris Campbell [External Advertisement] Cancel your cable service TODAY! [Click here for more...]( Take your latest phone bill or cable bill and light it on fire… then count the seconds it takes for the entire thing to burn right up. Because in that same amount of time, you could potentially earn huge profits... But you’ll only have this opportunity if you act before March 1st, 2021. [Click here to find out why.]( [Chris Campbell] CHRIS CAMPBELL Yesterday, we posed a simple question: “Will the next global reserve currency be owned by a nation?” At the very least, it’s an important thought experiment. After all, is it a complete given that the next global reserve currency should be owned and controlled by a nation? Since we have the power to create a credibly neutral global currency, shouldn’t we? Bitcoiners, for obvious reasons, say yes. Especially a Bitcoiner named Anil, who runs a popular Twitter account called [AnilSaidSo](. Last week, Anil raised an important question about the future of money and whether central banks will play a role. Namely, he asked: Can They Compete? Sure, Anil is biased. The first thing you learn about him is he’s NOT a fan of the Federal Reserve. He’s the type of person to balk at the idea that the Fed isn’t barreling toward obsolescence. So when Anil checked Glassdoor, a website where current and former employees can anonymously review companies, he felt a surge of vindication. (Why didn’t we think of that?) [IMG 1] As Anil points out, the Fed is made up of three key entities: The Board of Governors, the FOMC, and the 12 Reserve Banks. Each regional bank serves a specific district. [IMG 2] We won’t go through all of the reviews he uncovered. But here are a few gems… “Raises Don’t Even Keep Up With Inflation” Consider the following from the Kansas City branch, where a former employee says it’s “one of the strangest places I’ve ever worked.” Kansas, the reviewer wrote, hires “droves of college kids to have them work on tons of manual Excel spreadsheets that apparently drive the entire budget - wait, what!? Yes.” [IMG 3] And someone from the New York branch said: “Everything is due soon but no one knows for sure when or what is due.” [IMG 4] Another from the NY branch said (emphasis mine): “FRBNY provides a magnificent benefit package to shadow what a horrible employer they are. The culture and morale bank wide is suffering and has been since a leadership change almost four years ago — people are flocking out of there in droves.” [IMG 5] James Answers Reader Question… “Where Are You Putting Your Money Now?” [Click here for more...]( Hi, James Altucher here… And I get asked questions all the time from my readers. Some ask me about investing. Others ask me about building a business. Still others ask me about my books. Well, I recently received a question that I wanted to personally take the time out of my day and answer… because it could impact a lot of my readers, including you. I was asked where I’m putting my money now… given that stocks, cryptos, and everything else are all crashing. It’s a good question, which is why I sat down on camera and recorded a brief video. And I want to share it with you today. [Click here now to watch.]( A former employee at the San Francisco branch said that it’s the “worst place I’ve ever worked” adding that, ironically, “Raises don’t even keep up with inflation.” [IMG 6] A former employee at the Cleveland Fed said it’s ‘a highly educated group exhibiting sociopathic tendencies.’ And the Philly branch had some pretty harsh reviews, too: “Perfect job on the road to being obsolete.” [IMG 7] Similarly, a former employee from Minneapolis says: “... this organization will go bankrupt in a couple of years.” Alas… If you know anything about central banking, you know that this former employee probably doesn’t know much about central banking. [IMG 8] But, to be fair, this same person did make ONE thing clear about the job: “The place where you will learn nothing.” [IMG 9] “I sifted through hundreds of reviews,” says Anil, “but if there was one single quote that adequately captures the essence of working at a Federal Reserve regional branch, it's this gem of a quote: ‘Better than having no job.’” [IMG 10] Ultimately, we’re rooting for the “credibly neutral” option. Margaret Mead said, “Never underestimate the ability of a small group of committed individuals to change the world.” It’s supposed to be interpreted as positive, but we suppose it could go both ways. That’s why we shoot for the best possible timeline… And we prepare for the worst one. Not yet prepared? [Click here for everything you need to know before it’s too late.]( Until next time, [Chris Campbell] Chris Campbell For Altucher Confidential Military Experts preparing for a “Pearl Harbor Style Attack” on Guam? [Click here for more...]( Putin invades Ukraine… China launches rockets over the straits of Taiwan… And as we speak, military experts are warning the US to “Prepare for a Pearl Harbor Style Attack” on Guam. [Is the beginning of World War III?]( But more importantly, there is an [exact playbook]( on what is playing out in the world and what you need to do to prepare. [Simply click here now I’ll show you how to claim your copy.]( [Paradigm]( ☰ ⊗ [ARCHIVE]( [ABOUT]( [Contact Us]( Altucher Confidential is committed to protecting and respecting your privacy. We do not rent or share your email address. By submitting your email address, you consent to Paradigm Press, LLC. delivering daily email issues and advertisements. To end your Altucher Confidential e-mail subscription and associated external offers sent from Altucher Confidential, feel free to [click here.]( Please read our [Privacy Statement](. 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