#fednow

FedNow will be released July 1st and when it's implemented the US government will be able to see ALL exchanges of money that aren't cash payments. Which means if you're disabled and on SSI or SSDI and are trying to crowdfund your expenses (because SSI and SSDI don't pay enough to survive) the US government will be able to see ALL of that and deducted that from your SSI payments (meaning you'll get less money).

Please sign this petition to end FedNow.

I'm not even on disability or at risk of needing it. But this is a huge invasion of privacy. Especially because a lot of my meds have to be ordered and delivered by mail (I get them from a special compounding pharmacy) which means I don't have the option of cash payments and it's none of the government's goddamn business how much my meds cost.

I looked to see if it was open to public commentary but it's not (commentary closed in 2021). So please call your representatives. Even if you have conservative representatives. Even Republicans are hating this proposal as a huge invasion of privacy.

Call them. Email them. Don't let that social anxiety get to you. They're YOUR representatives and they are here to represent YOU.

https://explore.fednow.org/ <---- more about FedNow

Everyone should be calling and emailing their representatives about this. It is not mandatory as of now so we still have time. Make a big deal out of it like the RESTRICT Act, they go hand in hand. If even conservatives are going against the restrict Act after all the emails and calls they received, we can do the same thing with this. You can use chatgpt to help you write a letter if you need it.

The Federal Reserve has officially launched its much-anticipated Central Bank Digital Currency (CBDC) called 'FedNow.' 💸💻🌐

FedNow is five years away, but that’s not to say there are no options today. There is actually a private sector alternative offered by the Clearing House and it has been growing since 2017. Further, this private alternative was spawned from the Fed’s own call for help! It was only after a billion dollars of private sector investment and a list of banks had signed up that the Fed announced it, too, would enter the ring.

At this point, it is actually the Fed that has positioned itself to introduce inefficiencies to the existing market. This becomes abundantly clear when we look at the proposal for the program. Among other things, the Fed argues that it will need more than ten years just to recover its operating costs.

What private business is given this much time to pay off its operating costs?