The Federal Reserve’s digital dollar is a “scary” concept because it is all about having direct control over currency and economy, said Brien Lundin, executive editor of the Gold Newsletter and the New Orleans Investment Conference host.
As the Federal Reserve prepares to launch a review of a possible central bank digital currency (CBDC) shortly, U.S. citizens need to be aware of all the negative consequences that could come from a FedCoin.
“That’s scary to me. You can already see the Federal Reserve beginning the PR campaign to soften the public up for a digital currency, a FedCoin. And they will talk about a lot of the advantages — transparencies of use, everything that you see from the blockchain technology. But behind all of that, there’s control and the ability to control the economy, pull those levers more exactly and precisely than ever before,” Lundin told Michelle Makori, editor-in-chief of Kitco News, on the sidelines of the New Orleans Investment Conference.
Follow Michelle Makori on Twitter: @MichelleMakori (https://twitter.com/MichelleMakori)
Kitco News is the world’s #1 source of metals market information. Our videos feature interviews with prominent industry figures to bring you market-affecting insights, with the goal of helping people make informed investment decisions.
Subscribe to our channel to stay up to date on the latest insights moving the metals markets.
For more breaking news, visit http://www.kitco.com/
Follow us on social media:
Facebook – https://www.facebook.com/KitcoNews/?ref=br_rs
Twitter – https://twitter.com/kitconewsnow
StockTwits – https://stocktwits.com/kitconews
Live gold price and charts: http://www.kitco.com/gold-price-today-usa/
Live silver price and charts: http://www.kitco.com/silver-price-today-usa/
Don’t forget to sign up for Kitco News’ Weekly Roundup – comes out every Friday to recap the hottest stories & videos of the week: https://connect.kitco.com/subscription/newsletter.html
Join the conversation @ The Kitco Forums and be part of the premier online community for precious metals investors: https://gold-forum.kitco.com/
Disclaimer: Videos are not trading advice and the views expressed may not reflect those of Kitco Metals Inc.