FYI, y'all..
From Web News <
subscriptions@email.webnewsweekly.com>
Date Today 5:08 pm
The Federal Reserve is currently selling banks their new "FedNow" system with one major promise:
"Transfers will happen instantly, 24 hours a day, 7 days a week, 365 days a year. No more weekend or
holiday delays!"
But there's a catch ...
When your money moves instantly through a centralized government hub, it can also be frozen
instantly.
Imagine it is 6:00 p.m. on a Friday. You try to pay for dinner, buy groceries or pay your
mortgage ... but your card is declined.
FedNow is run by algorithms. And an automated algorithm inside the Fed's new network flagged a
recent purchase or donation you made as "suspicious" or "non-compliant."
The result? Your account is instantly locked.
In the old banking system, you could walk into a branch and talk to a human manager to fix it. But
on a Friday night, your local bank branch is closed, the manager is home with his family and a
faceless government computer in Washington has left you helpless.
You're completely cut off from your own money until Monday morning or later, with no way to pay for
anything.
This could be the reality of the new system outlined in Federal Reserve Docket No. OP-1670.
Over 1,500 banks have already surrendered to it.
Don't let your savings get caught in this automated government web.
You don't need to switch banks or close your accounts. You just need to structure your wealth so a
government algorithm cannot lock you out of your life savings on a Friday night.
P.S. The Fed wants you to focus on the convenience of instant transfers. They don't want you
thinking about the possibility of an instant freeze. Once your bank is fully plugged into FedNow,
you're at the mercy of their algorithms.
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