Birdwatch Archive

Birdwatch Note

2023-04-06 13:47:48 UTC - MISINFORMED_OR_POTENTIALLY_MISLEADING

The FedNow payment system is not an alternative to the gold standard. It does not alter the value basis for US currency. It is only a new system for more efficiently making government payments to individuals via electronic bank transfers rather than via mailed checks. https://www.cnbc.com/2023/03/15/long-awaited-fed-digital-payment-system-to-launch-in-july.html

Written by 2DD393D8FAD46C32DA6EA1FC4929A5AD4814F8320F08CBE93021307DE9E62F0D
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• noteId - 1643973786532827136
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• noteAuthorParticipantId - 2DD393D8FAD46C32DA6EA1FC4929A5AD4814F8320F08CBE93021307DE9E62F0D Participant Details
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• tweetId - 1643685831582920704
• classification - MISINFORMED_OR_POTENTIALLY_MISLEADING
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• summary
• The FedNow payment system is not an alternative to the gold standard. It does not alter the value basis for US currency. It is only a new system for more efficiently making government payments to individuals via electronic bank transfers rather than via mailed checks. https://www.cnbc.com/2023/03/15/long-awaited-fed-digital-payment-system-to-launch-in-july.html