David Brady Jr. discusses his recent article at Mises.org, in which he argues that the newly launched “FedNOW” system isn’t a CBDC. Even so, there are dangers from FedNOW, such as exacerbating bank runs. David also explains the new Mises Apprenticeship program, of which he is a member.
David’s Article on Mises.org: https://Mises.org/HAP406a
George Selgin Cato Article on FedNow: https://Mises.org/HAP406b
Join us in Nashville on September 23rd for a no-holds-barred discussion against the regime: https://Mises.org/Nashville23
Chapters
00:00 Against Our Limitless Regime
01:00 Introduction
01:54 What is FedNow?
06:05 FedNow and Commercial Banks
10:35 Do Private Banks want a CBDC?
14:22 Does FedNow Bring Us Closer to a CBDC
15:53 FedNow as an Alternative to Digital Currency
21:13 Should You Be Worried about FedNow?
28:02 Reserve Requirements and Interest on Reserves
36:15 What Banks Can Use FedNow?
44:42 Mises University and the Mises Apprenticeship Program