1. WHITE HOUSE: Technical Possibilities for a U.S. Central Bank Digital Currency
September 16, 2022:
By Dr. Alondra Nelson, head of the White House Office of Science and Technology Policy
Alexander Macgillivray, Principal Deputy United States Chief Technology Officer
Nik Marda, Policy Advisor
President Biden often summarizes his vision for America in one word: Possibilities. A “digital dollar” may seem far-fetched, but modern technology could make it a real possibility.
A United States central bank digital currency (CBDC) would be a digital form of the U.S. dollar. While the U.S. has not yet decided whether it will pursue a CBDC, the U.S. has been closely examining the implications of, and options for, issuing a CBDC. If the U.S. pursued a CBDC, there could be many possible benefits, such as facilitating efficient and low-cost transactions, fostering greater access to the financial system, boosting economic growth, and supporting the continued centrality of the U.S. within the international financial system. However, a U.S. CBDC could also introduce a variety of risks, as it might affect everything ranging from the stability of the financial system to the protection of sensitive data.
Notably, these benefits and risks might vary significantly based on how the CBDC system is designed and deployed. That is why Executive Order 14067, Ensuring Responsible Development of Digital Assets, placed the highest urgency on research and development efforts into the potential design and deployment options of a U.S. CBDC. The Executive Order directed the Office of Science and Technology Policy (OSTP), in consultation with other Federal departments and agencies, to submit to the President a technical evaluation for a potential U.S. CBDC system.
Today, OSTP is publishing its report, Technical Evaluation for a U.S. Central Bank Digital Currency System, which lays out policy objectives for a potential U.S. CBDC system and analyzes key technical design choices for a U.S. CBDC system. The report also estimates the technical feasibility of building a CBDC minimum viable product and describes how a U.S. CBDC system might affect Federal operations. The report makes recommendations on how to prepare the Federal Government for a U.S. CBDC system. Importantly, the report does not make any assessments or recommendations about whether the U.S. should pursue a CBDC, nor does it make any decisions regarding particular design choices for a potential U.S. CBDC system.
Policy objectives for a U.S. CBDC system
The operation involving fake right-wing accounts has become so big that information sharing is necessary so authorities do not target each other
Hundreds of the radical Nazis and right-wing extremists online are actually German domestic intelligence agents, and many of them may be responsible for “inciting hatred” and even violence. These agents, who once needed to drink and directly socialize with members of the extreme right to gain information on their targets, are now running right-wing extremist accounts online in Germany.
Germany’s Federal Office for the Protection of the Constitution (BfV) argues that these accounts are needed to effectively monitor the extreme right, but critics say that they may also be promoting and actively encouraging radicalism, according to a report from German newspaper Süddeutsche Zeitung.
“This is the future of information gathering,” an unnamed head of a relevant state office told Süddeutsche Zeitung.
Stewart Rhodes is currently jailed for standing outside the US Capitol on January 6th. Rhodes was arrested in January and has been held in prison since his arrest. Stewart committed no crime. Stewart committed no violence. Stewart did not organize an “insurrection.” In fact, Stewart told the Oath Keepers to leave all of their weapons in their hotel rooms outside of Washington DC on January 6, 2021. Rhodes and his men and women provided security at the Ellipse for President Trump’s speech to nearly one million patriots. Rhodes and the Oath Keepers then went to the US Capitol where they were going to provide security at two events that were planned and approved outside the US Capitol that day. […]
Please click through to Gateway for the full context of the following recorded phone call
Please also see yesterday’s item about a man who ran over and killed a young Trump supporter.