Countries Begin Dropping the Dollar; Fed Launches First Stage of Digital Currency
A slew of nations recently announced they will begin moving away from the U.S. dollar when trading key products, and some are openly promoting a new movement to ditch the dollar for the Chinese yuan. The new movement in \u201cde-dollarization\u201d could deeply impact America\u2019s role as the world leader, and damage its ability to sanction countries that violate basic standards on human rights.
Meanwhile, the Federal Reserve is launching a new program called FedNow, which is slated as a first step toward a centralized banking digital currency (CBDC) for the United States. The use of digital currencies is being promoted as a way to stop crimes like money laundering, but it\u2019s also deeply criticized as a direct threat to financial freedom. Digital currencies would represent a new type of money where every payment is tracked.
In this live Q&A with Crossroads host Joshua Philipp, we\u2019ll discuss these stories and others, and answer questions from the audience.
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