Fed Coins

Talk to your bank.

Let me slightly rephrase the question to try to avoid cryptic replies. Does anyone have an assumption as to how this will work given the above question??

It's hasn't been issued yet, but my guess is that if it ever actually happens, it will be completely invisible to you. The "dollars" you receive today are nothing more than entries in a bank ledger. It's not like you receive a bunch of dollars, go down to the bank and deposit them into a safe for future use. Everything is already electronic.

Hopefully that is the way it will work. Thank you for your time and answer.

I'm sorry but I have no clue. You might be able to get in touch with your bank via phone or email, they should tell you. Do you know their phone number?

I live in the Philippines, so my bank would not know. I think that as fiat currency gets replaced by digital currency I would simp;y convert those digital monies into the local currency. Actually the more I think about this the less worried about it. Once the digital dollars are converted to local currency that ends the American involvement in the currency. In other words those monies would no longer be able to be traced and controlled by the US government. Since all currency is basically digital anyway I feel much better about the whole thing. The ones I worry about are in the United States as the government will have more and more control over the money and your use of it.

What bothers me about the Fed creating a digit currency is that it will be centralized traceable and taxed. The whole ideas of digital currency is that it will be decentralized. The Fed is not a government institution as most people think. It is privately owned by bankers who are the very definition of centralization. True blockchain technology eliminates the excesses of governments and puts control in the hands of the people. By getting off the gold standard Nixon led us down the road to hyperinflation one day. Now it is too late to go back on the gold standard but at least the dollar could be backed by something. Between the U.S.government and the Fed they run the biggest Ponzi scheme in history. I worked for the Fed for thirty years. No, I did not set policy, and I was a low level employee. So don't blame me for this mess. A private institution controls your money. They have not been elected and were created expressly to keep control of the currency in favor of the rich\government. By making a Federal Reserve system to control the money, puts control in the hands of the government. Letting the free market determine the direction of the fiat currency and basing that currency on some tangible like commodities\precious metals gives control back to the people, and the elite certainly do not want that. The Fed is liberal through and through. If an employee is conservative, they will find out about it, and you will slowly diminish and be marginalized. They couldn't care less about the people, especially the people that work for them. It is a liberal club and if you do not play the game you are out. Normal principles do not apply there, only the unwritten principles handed down from above, apply. It is a bit like Xi in China. It is highly centralized at the top of each Fed office. We used to have an old saying in the work place; "…the Fed giveth and the Fed taketh away blessed be the name of the Fed". The creation of the Fed was not a democracy motivated move nor even a Republic move. We live in a republic not a democracy, but this had nothing to do with either. No it was a deliberate successful attempt to override both of those and put power in the hands of the few elites at the expense of the people. So now we have a Fed who does not let the system run its natural course in a down turn but artificially manipulates interest rates to counter the natural way the market has of weeding out the weak and useless companies that should fail. But now the Fed has met its match in that inflation is so far advanced that any manipulation of rates can no longer keep the economy afloat. They have never seen this before and have zero tools with which to manipulate with. It will take the crash of the entire economy now in order to correct this and put the country back in stable growth. It will take the end of a fiat currency backed by nothing and the end of Fed manipulation.
As a Fed retiree I can say without hesitation that it is nothing more than a legalized Ponzi scheme.

Not only the above but this gives the Fed the power of control. https://www.youtube.com/watch?v=esjZFLy0xc0&ab_channel=WinningInvestorDaily