The topic of the Federal Reserve issuing a “FEDcoin” has recently gained traction due to the predictions made by Doug Casey in his new book: Surviving FEDcoin: How to Protect Yourself (and Profit) from America’s Coming Currency Change.
Though his predictions in the past have proven to be accurate, such as what happened with the Dot Com bubble and with Donald Trump becoming President, in the case of the Federal Reserve creating its own digital currency and forcing the American public to adopt it over the dollar will not happen for a very simple reason.
They are the primary entity behind the funding that has gone into every existing cryptocurrency and blockchain project, with the exception of possibly Bitcoin, however that is debatable.
Follow the money trail and behind virtually every crypto project out there, you find the Digital Currency Group (DCG) and the Depository Trust & Clearing Corp. (DTCC). The primary cofounder and one of three board members of DCG is Glenn Hutchins: a former advisor to President Clinton and a member of the Federal Reserve of NY (1 of 12 branches of the Federal Reserve). DTCC on their website openly says they are a member of the Federal Reserve.
Other investment extensions of central banks exist, such as through AXA Strategic Ventures who is part of the AXA Group and are the primary investors behind Blockstream (company that employs several Bitcoin Core Development Team members).
You also have the Tether/Bitfinex connections.
One can argue that being the core investors behind these projects does not give them complete control, which I completely disagree with. If you were to develop a technology that Google than provided unlimited resources for, you can bet they’d have complete control over how that technology is then used. How is this any different?
The reality is central bankers are in complete control of every paper currency in existence. They pretend like cryptocurrencies are stripping them of this power, yet they are funding all of it. Why?
Instead of creating a new digital currency, they are just going to hide behind the one we all blindly accept – and that will become “FEDcoin”.
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