CATALYST #2: FedNow Preserves America’s #1 Status… America ascended to its position atop the world when the size of its economy surpassed England’s in 1890. Its boldness and valor in World War II further validated the United States’ #1 superpower status, which began the period of “American Exceptionalism.”
To the victor go the spoils.
In America’s case, its biggest “spoil” arrived in 1944. What happened in 1944? Well, the dollar became the world’s reserve currency, which handed the United States virtually limitless economic advantages over the rest of the world.
But nearly 80 years later, China is vying to overtake America.
Not only could China’s economy surpass the size of the U.S. economy by 2030…
But the People’s Bank of China has already relaunched the yuan as a digital currency, meaning China has out-innovated the United States.
In fact, as the global leader in CBDCs…
China’s yuan (e-CNY) recently topped $100 billion in digital transactions. Being out-innovated by a communist regime isn’t a good look for America.
Fortunately, when FedNow goes live in a couple of months…
It could add roughly $2 trillion in American economic activity per year, thus making it virtually impossible for China’s economy (GDP: $13.4 trillion) to overtake the United States’ economy (GDP: $20.49 trillion) within the next 10 years.
FedNow also provides a glide path for a U.S.-backed CBDC (a.k.a. FedCoin).
Bottom line, to preserve America’s status as the world’s #1 superpower…
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