Whether the U.S. should have its own central bank digital currency (CBDC) is hotly debated. Several countries, including China, already have CBDCs in operation; but the U.S. Federal Reserve is proceeding with caution. Prof. Saule Omarova, President Biden’s nominee for Comptroller of the Currency, is in favor of a CBDC and has made a strong case for it; but many conservative commentators are opposed, and her nomination remains in doubt.
Continue reading →
Filed under: Ellen Brown Articles/Commentary | Tagged: banking, CBDC, CENTRAL BANK DIGITAL CURRENCY, china, Dodd-Frank, DOLLAR, FDIC, Federal Reserve, GREAT DEPRESSION, IMF, OMAROVA, PRESIDENT BIDEN, Trump and the Fed | 13 Comments »
The Case for a Central Bank Digital Currency
Whether the U.S. should have its own central bank digital currency (CBDC) is hotly debated. Several countries, including China, already have CBDCs in operation; but the U.S. Federal Reserve is proceeding with caution. Prof. Saule Omarova, President Biden’s nominee for Comptroller of the Currency, is in favor of a CBDC and has made a strong case for it; but many conservative commentators are opposed, and her nomination remains in doubt.
Continue reading →Filed under: Ellen Brown Articles/Commentary | Tagged: banking, CBDC, CENTRAL BANK DIGITAL CURRENCY, china, Dodd-Frank, DOLLAR, FDIC, Federal Reserve, GREAT DEPRESSION, IMF, OMAROVA, PRESIDENT BIDEN, Trump and the Fed | 13 Comments »