The Fed issued a paper a couple weeks ago saying they couldn't issue a CBDC but really needs to address stablecoins and other cryptos, so they (and their stakeholders, their owners) want to know what you think. ITT, the 22 questions they are looking for public response to. They are giving the public 120 days for comment and suggestions.
federalreserve.gov
1. What additional potential benefits, policy considerations, or risks of a CBDC may exist that have not been raised in this paper?
2. Could some or all of the potential benefits of a CBDC be better achieved in a different way?
3. Could a CBDC affect financial inclusion? Would the net effect be positive or negative for inclusion?
4. How might a U.S. CBDC affect the Federal Reserve’s ability to effectively implement monetary policy in the pursuit of its maximum-employment and price-stability goals?
pic rel a related conference
5. How could a CBDC affect financial stability? Would the net effect be positive or negative for stability?
6. Could a CBDC adversely affect the financial sector? How might a CBDC affect the financial sector differently from stablecoins or other nonbank money?
7. What tools could be considered to mitigate any adverse impact of CBDC on the financial sector? Would some of these tools diminish the potential benefits of a CBDC?
8. If cash usage declines, is it important to preserve the general public’s access to a form of cen- tral bank money that can be used widely for payments?
9. How might domestic and cross-border digital payments evolve in the absence of a U.S. CBDC?
10. How should decisions by other large economy nations to issue CBDCs influence the decision whether the United States should do so?
11. Are there additional ways to manage potential risks associated with CBDC that were not raised in this paper?
12. How could a CBDC provide privacy to consumers without providing complete anonymity and facilitating illicit financial activity?
13. How could a CBDC be designed to foster operational and cyber resiliency? What operational or cyber risks might be unavoidable?
14. Should a CBDC be legal tender?
15. Should a CBDC pay interest? If so, why and how? If not, why not?
16. Should the amount of CBDC held by a single end user be subject to quantity limits?
17. What types of firms should serve as intermediaries for CBDC? What should be the role and regulatory structure for these intermediaries?
18. Should a CBDC have “offline” capabilities? If so, how might that be achieved?
19. Should a CBDC be designed to maximize ease of use and acceptance at the point of sale? If so, how?
20. How could a CBDC be designed to achieve transferability across multiple payment platforms? Would new technology or technical standards be needed?
21. How might future technological innovations affect design and policy choices related to CBDC?
22. Are there additional design principles that should be considered? Are there tradeoffs around any of the identified design principles, especially in trying to achieve the potential benefits of a CBDC?
slid to page 9 in 9 min
bump
threadnever bumped
kek thx
made this thread yesterday > and noone responded either
Summary of The Committee on Banking, Housing, and Urban Affairshearing: “Stablecoins: How Do They Work, How Are They Used, and What Are Their Risks?”
Dec 14, 2021
banking.senate.gov
Witnesses:
Ms. Alexis Goldstein, Director of Financial Policy, Open Markets Institute
Mr. Dante Disparte, Chief Strategy Officer and Head of Global Policy, Circle
Ms. Jai Massari, Partner, Davis Polk & Wardwell, LLP
Professor Hilary J. Allen, American University Washington College of Law
stable coins pegged for death
what the Fed is working on now with cryptos
Just wrote nigger into every box
most of Any Forums userbase have known this experimental digital ponziscam would be shortlived and benefit very few
here is their outline for 3 types of money
central bank
commercial bank
nonbank
It will be the backbone of the US social credit system
god i hope you're right
the fed uses the BIS' definition of non bank
>US social credit system
kek
pic related is economic plan for biden's nominee for occ chief, omarova
the Omarova train wreck of a nomination hearing:
OCC Chief Nominee Senate Hearing
banking.senate.gov
The Committee on Banking, Housing and Urban Affairs will meet to conduct a hearing on the following nomination: Dr. Saule T. Omarova, of New York, to be Comptroller of the Currency.
Summary of full hearing at:
archive.4plebs.org
>in the pursuit of its maximum-employment and price-stability goals
lol
holy shit
the Fed has been undermining congress' sole authority to issue currency with QE, repo and their PDCF Special Purpose Vehicle
isn't it sedition when the Fed encourages its primary dealers to use the PDCF? this Fed facility secretly gives out super low rate loans to its primary dealers, with new money issued out of fucking thin air
the 2008 PDCF facility was revived recently and remains open as long as there is a state of emergency
this is not even counting regular repo and QE, which also both crearte currency out of thin air for a select few primary dealers
the 2008 failures and thieves have only gotten worse, now up to ~$600T in notional derivatives
>stablecoins
>ctrl+f"stable"
>results
I'm sure that hacker Any Forums will find the longest, strongest, thickest, hardest, girthiest, throbbingest solution for the feds sopping-wet problem.
here are the types of derivatives from an OFR report, mostly corporate and most are uncleared (not taking place on an exchnage, so no oversight from CFTC)
Fedniggers tongue my anus. SNEED
>from an OFR report on derivatives and counterparty exposure
oops forgot pic