CBDC - Central Bank Digital Currencies

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Current banking crisis -- It wouldn't be surprising to see the ongoing narrative steered toward the idea that CBDCs are needed to improve / stabilize the financial system. Elon Musk's recent cryptic comment might be headed in that direction (article excerpt below).

They have already floated the dubious idea that the CBDC will help maintain the dollar's position as the world's reserve currency, so we can expect more positive spin on the amazing curative powers of the CBDC. The Fed's instant payment service 'FedNow' is set to begin in early April, with the full rollout starting in July. So we can expect the CBDC and its FedNow plumbing to be praised to the heavens by the media, and seen as a glorious alternative to those unreliable and shaky 'banks'. With CBDC / FedNow, the banks are bypassed, and everything goes directly through the Federal Reserve -


>>> 'Inefficiency of Resource Allocation Databases':

These measures have so far failed to restore calm. Experts are divided.

One solution circulating is for the FDIC to guarantee all deposits in U.S. banks. For entrepreneur Elon Musk, the failure of the extraordinary measures that have been announced is proof that the current financial system is inefficient. Or so the CEO of Tesla indicated in a thread on Twitter.

"The inefficiency of the set of heterogeneous resource allocation databases we call money is astounding," he said in a cryptic message on March 17.

Musk doesn't say what an efficient system would look like. He might mean that it would probably be easier to have a central entity where customers can deposit and withdraw money, rather than a system with multiple entry and exit points. The more points of entry and exit you have, the greater the risk of failure, he might suggest. <<<


https://www.thestreet.com/banking/elon-musk-sends-cryptic-message-about-the-banking-crisis?puc=yahoo&cm_ven=YAHOO


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