(OPINION) The Bible tells us that when the antichrist comes on the scene, he’s going to gain a foothold of global power. The beginning strategy of his power grab will be to first gain control over the world economy. It’s a lot faster and easier to gain economic control with all the means that are available today than it is to achieve military and political power.
Once you have that economic control, you control people’s lives, and you can then take them over politically and militarily as well.
According to Revelation chapter 13, the antichrist will have iron-fisted control over all buying and selling. Bible prophecy teachers for decades have said that a cashless society will be required. What we see today developing in our world is a cashless society on steroids.
Recently, a new entity was created called the FedNow Service. The FedNow Service is a portal created by the Federal Reserve, which permits financial institutions to exchange funds digitally in real-time. The government website in early July stated:
The Federal Reserve on Thursday announced that its new system for instant payments, the FedNow Service, is now live. Banks and credit unions of all sizes can sign up and use this tool to instantly transfer money for their customers, any time of the day, on any day of the year.
Federal Reserve Chair Jerome H. Powell said, “Over time, as more banks choose to use this new tool, the benefits to individuals and businesses will include enabling a person to immediately receive a paycheck, or a company to instantly access funds when an invoice is paid.”
To start, 35 early-adopting banks and credit unions, as well as the U.S. Department of the Treasury’s Bureau of the Fiscal Service, are ready with instant payments capabilities via the FedNow Service. In addition, 16 service providers are ready to support payment processing for banks and credit unions.
CoinDesk published an article recently that reads, “Federal Reserve’s ‘FedNow’ Launch Triggers Fresh Speculation Over Digital Dollar,” subheading, “While FedNow is currently not tied to any initiative for a digital U.S. dollar or the crypto space in general, experts warn that the system might end up as a precursor to the infrastructure for a central bank digital currency.”
Immediately, the creators of the FedNow said this isn’t related to Central Bank digital currency (CBDC), but many experts are warning that’s exactly what it is.
The CoinDesk author continued: The U.S. Federal Reserve denies that its new instant payments service, FedNow, is in any way tied to the digital asset space.
But experts say the new system could lay the groundwork for the infrastructure needed for a potential central bank digital currency (CBDC) in the U.S.
The FedNow project adopts a key goal of the digital asset industry: moving money around easily and quickly, and at any time of day or the week, even if banks are closed. FedNow will operate 24 hours a day.
“This is a payment system, not a digital token or a CBDC, but it is something that can be used to facilitate the creation of a CBDC,” said Jim Bianco, president of Bianco Research. (READ MORE)
