Heard About FedNow? You Will…

Before delving into the FedNow program, it’s important to understand what the Federal Reserve (the Fed) is and how it has controlled America’s currency for well over 100 years. In very oversimplified terms, the Fed is a small group of PRIVATE central bankers that creates our currency out of thin air by purchasing US Government Treasury Bonds with a check written on an account with a zero balance. If we do that, the check is returned, and our bank assesses an overdraft fee. But when the Fed does it, the Fed is creating currency. This newly created currency then becomes our national debt, which is currently over $31 trillion. The best part is, for the Fed anyway, the American taxpayer is on the hook to repay all the borrowed currency, plus interest, all originating from a check written by the Fed on an account that had a zero balance. It’s the biggest scam in the history of mankind! Check out YouTube Mike Maloney Hidden Secrets of Money Episode 4 for supporting details.