Richard Werner, Economics Professor and Author of "Princes of the Yen," and Michelle Makori, Editor-in-Chief and Lead Anchor at Kitco News, discuss the Federal Reserve's FedNow instant payments system, and whether it will be used to usher in Central Bank Digital Currencies (CBDCs), digital tokens issued and controlled by central banks. Werner explains what CBDCs are, and warns that they will be used to bring about 'totalitarian' control and a surveillance economy. He also proposes that the recent banking crisis and consolidation of banks could be used as an excuse to bring about CBDCs, and suggests political solutions that might prevent CBDCs from being implemented. Video by Kitco NEWS.
Instant access to online trading, anytime and anywhere.
Invest in the world's most popular and sought-after assets. Everything you are looking for in an ultimate investment platform — on the device of your choice.
-$10 Minimum Deposit.
-Free $10 000 practice account.
-Trade 7 days a week, 24 hours a day.
-$1 Minimum Investment.
Try Free Demo Trading >>
