# Fednow on The No Agenda Show Fednow comes up in 11 chapters across 9 episodes of The No Agenda Show, from September 2020 to November 2023. - **Chapters:** 11 - **Episodes:** 9 - **Discussed:** September 2020 – November 2023 - **Related topics:** [Federal Reserve](https://search.noagendashow.net/topic/federal-reserve.md), [Paypal](https://search.noagendashow.net/topic/paypal.md), [Bank Of America](https://search.noagendashow.net/topic/bank-of-america.md), [Biometrics](https://search.noagendashow.net/topic/biometrics.md), [Birthdays](https://search.noagendashow.net/topic/birthdays.md), [Blackrock](https://search.noagendashow.net/topic/blackrock.md), [Cares Act](https://search.noagendashow.net/topic/cares-act.md), [Cash](https://search.noagendashow.net/topic/cash.md), [Cbdc](https://search.noagendashow.net/topic/cbdc.md), [Central Bank Digital Currency](https://search.noagendashow.net/topic/central-bank-digital-currency.md) ## Chapters 1–11 of 11 ### ACH Processing Error, Bank Deposit Delays, FedNow - **Episode:** [1605: Techno-douche](https://search.noagendashow.net/episode/1605-techno-douche.md) - **Published:** 2023-11-05 - **Time:** 2:04:55–2:10:00 - **Transcript:** https://search.noagendashow.net/episode/1605-techno-douche/chapter/ach-processing-error-bank-deposit-delays-fednow.md A major processing error in the Automated Clearinghouse (ACH) system caused significant delays for direct deposits at several large U.S. banks. While officials cited a "processing error," the hosts speculate on the possibility of ransomware or a move toward the "FedNow" system. Keywords: automated clearinghouse, [federal reserve](https://search.noagendashow.net/topic/federal-reserve.md), [wells fargo](https://search.noagendashow.net/topic/wells-fargo.md), u.s. bank, [ransomware](https://search.noagendashow.net/topic/ransomware.md), [fednow](https://search.noagendashow.net/topic/fednow.md) ### FedNow, Employee Retention Credit Scams - **Episode:** [1578: Tranarchism](https://search.noagendashow.net/episode/1578-tranarchism.md) - **Published:** 2023-08-03 - **Time:** 31:27–35:24 - **Transcript:** https://search.noagendashow.net/episode/1578-tranarchism/chapter/fednow-employee-retention-credit-scams.md The new FedNow payment network is predicted to disrupt existing merchant processing systems currently dominated by Visa and Mastercard. Additionally, the Employee Retention Credit (ERC) is described as a massive scam exceeding the scale of PPP fraud, potentially adding a trillion dollars to the money supply and exacerbating inflation. Keywords: [fednow](https://search.noagendashow.net/topic/fednow.md), erc, [ppp](https://search.noagendashow.net/topic/ppp.md), [bank of america](https://search.noagendashow.net/topic/bank-of-america.md), [inflation](https://search.noagendashow.net/topic/inflation.md) ### Value for Value Model, PayPalpocalypse and FedNow - **Episode:** [1567: Wagner the Dog](https://search.noagendashow.net/episode/1567-wagner-the-dog.md) - **Published:** 2023-06-27 - **Time:** 1:20:35–1:26:44 - **Transcript:** https://search.noagendashow.net/episode/1567-wagner-the-dog/chapter/value-for-value-model-paypalpocalypse-and-fednow.md The hosts discuss the "Value for Value" funding model, contrasting it with traditional advertising and subscriptions. They address the "PayPalpocalypse" that affected their donation base and look forward to the implementation of "FedNow" in July, which they believe will facilitate cheaper, direct transactions despite potential government surveillance concerns. Keywords: [value for value](https://search.noagendashow.net/topic/value-for-value.md), [paypal](https://search.noagendashow.net/topic/paypal.md), [zelle](https://search.noagendashow.net/topic/zelle.md), [fednow](https://search.noagendashow.net/topic/fednow.md), [crowdfunding](https://search.noagendashow.net/topic/crowdfunding.md), [podcasting](https://search.noagendashow.net/topic/podcasting.md) ### Federal Reserve FedNow Launch and Financial Surveillance - **Episode:** [1566: Hush Up Boy!](https://search.noagendashow.net/episode/1566-hush-up-boy.md) - **Published:** 2023-06-22 - **Time:** 45:41–48:50 - **Transcript:** https://search.noagendashow.net/episode/1566-hush-up-boy/chapter/federal-reserve-fednow-launch-and-financial-surveillance.md The Federal Reserve is set to launch FedNow, an instant payment clearinghouse that will charge four cents per transaction. While marketed as a way to speed up government disbursements like stimulus checks, critics view it as a precursor to a retail CBDC. Simultaneously, BlackRock has filed for a Bitcoin ETF, signaling a shift in how major financial institutions interact with digital assets. Keywords: [fednow](https://search.noagendashow.net/topic/fednow.md), [federal reserve](https://search.noagendashow.net/topic/federal-reserve.md), instant payments, [blackrock](https://search.noagendashow.net/topic/blackrock.md), bitcoin etf ### Discretionary Recession, Payment App Warnings, FedNow - **Episode:** [1561: Star Butler](https://search.noagendashow.net/episode/1561-star-butler.md) - **Published:** 2023-06-04 - **Time:** 2:58:08–3:01:08 - **Transcript:** https://search.noagendashow.net/episode/1561-star-butler/chapter/discretionary-recession-payment-app-warnings-fednow.md Federal regulators warned consumers against storing large balances on payment apps like Venmo and PayPal, citing a lack of automatic insurance. This warning is interpreted as a marketing setup for the July launch of "FedNow," a Federal Reserve-backed payment system that may compete with private digital wallets. Keywords: [venmo](https://search.noagendashow.net/topic/venmo.md), [paypal](https://search.noagendashow.net/topic/paypal.md), [fednow](https://search.noagendashow.net/topic/fednow.md), [central bank digital currency](https://search.noagendashow.net/topic/central-bank-digital-currency.md), [recession](https://search.noagendashow.net/topic/recession.md) ### Twitter Engagement Decline, FedNow Payment Integration Theory - **Episode:** [1545: Stapler Abuse](https://search.noagendashow.net/episode/1545-stapler-abuse.md) - **Published:** 2023-04-11 - **Time:** 7:11–9:00 - **Transcript:** https://search.noagendashow.net/episode/1545-stapler-abuse/chapter/twitter-engagement-decline-fednow-payment-integration-theory.md Observations are made regarding a significant drop in engagement and potential shadow banning on Twitter under Elon Musk's leadership. A theory is proposed that Musk may be positioning Twitter as a partner for the upcoming FedNow service launching in July. This would integrate a fully functional payment wallet into the platform, bypassing the need for a Central Bank Digital Currency (CBDC). Keywords: [twitter](https://search.noagendashow.net/topic/twitter.md), [elon musk](https://search.noagendashow.net/topic/elon-musk.md), [fednow](https://search.noagendashow.net/topic/fednow.md), payment wallet, [shadow banning](https://search.noagendashow.net/topic/shadow-banning.md) ### FedNow Launch, Central Bank Digital Currency - **Episode:** [1538: FedNow](https://search.noagendashow.net/episode/1538-fednow.md) - **Published:** 2023-03-16 - **Time:** 2:23:41–2:26:52 - **Transcript:** https://search.noagendashow.net/episode/1538-fednow/chapter/fednow-launch-central-bank-digital-currency.md The Federal Reserve announced the July launch of FedNow, a real-time digital payment system. While officials claim it may eliminate the need for a Central Bank Digital Currency (CBDC), critics argue it provides the same level of government surveillance and control over transactions. The system is designed to allow for immediate government disbursements and peer-to-peer transfers, potentially bypassing traditional regional banks. Keywords: [fednow](https://search.noagendashow.net/topic/fednow.md), [federal reserve](https://search.noagendashow.net/topic/federal-reserve.md), [cbdc](https://search.noagendashow.net/topic/cbdc.md), [digital payments](https://search.noagendashow.net/topic/digital-payments.md), [surveillance](https://search.noagendashow.net/topic/surveillance.md) ### Banking Consolidation, The End of Regional Banks - **Episode:** [1538: FedNow](https://search.noagendashow.net/episode/1538-fednow.md) - **Published:** 2023-03-16 - **Time:** 2:26:52–2:34:31 - **Transcript:** https://search.noagendashow.net/episode/1538-fednow/chapter/banking-consolidation-the-end-of-regional-banks.md A debate ensues regarding the future of retail payments, with a prediction that merchants will eventually favor FedNow over credit cards to avoid 3% transaction fees. This shift is seen as part of a broader plan to consolidate the banking industry, moving assets from small regional banks into the "Big Six" institutions. The Federal Reserve is characterized as a collection of private banking interests rather than a public entity. Keywords: [fednow](https://search.noagendashow.net/topic/fednow.md), [visa](https://search.noagendashow.net/topic/visa.md), [mastercard](https://search.noagendashow.net/topic/mastercard.md), bank consolidation, [federal reserve](https://search.noagendashow.net/topic/federal-reserve.md) ### Birthday List, Meetup Reports and Outro - **Episode:** [1538: FedNow](https://search.noagendashow.net/episode/1538-fednow.md) - **Published:** 2023-03-16 - **Time:** 2:58:00–3:11:44 - **Transcript:** https://search.noagendashow.net/episode/1538-fednow/chapter/birthday-list-meetup-reports-and-outro.md The show concludes with the reading of the producer birthday list and a final reminder of upcoming meetups in Idaho, Colorado, and Indiana. A final debate occurs regarding whether the show will eventually be forced to take donations via the FedNow network. The hosts sign off with their traditional catchphrases before transitioning into the "End of Show Mix" featuring listener-submitted audio montages. Keywords: [birthdays](https://search.noagendashow.net/topic/birthdays.md), [meetups](https://search.noagendashow.net/topic/meetups.md), [fednow](https://search.noagendashow.net/topic/fednow.md), [tucker carlson](https://search.noagendashow.net/topic/tucker-carlson.md), [end of show mix](https://search.noagendashow.net/topic/end-of-show-mix.md) ### FedNow Payment System, Digital Identity, Cash Elimination - **Episode:** [1275: Hypocrite Oath](https://search.noagendashow.net/episode/1275-hypocrite-oath.md) - **Published:** 2020-09-06 - **Time:** 13:26–17:04 - **Transcript:** https://search.noagendashow.net/episode/1275-hypocrite-oath/chapter/fednow-payment-system-digital-identity-cash-elimination.md The Federal Reserve is developing FedNow, a universal directory for the U.S. banking system intended to streamline government disbursements and bailouts by 2023. An industry insider reports that the system aims to marginalize cash in favor of digital identities authenticated by biometrics and device fingerprinting. While the transition to a fully cashless society faces hurdles like the continued use of paper checks, the infrastructure for total transaction tracking is being established. Keywords: [fednow](https://search.noagendashow.net/topic/fednow.md), [federal reserve](https://search.noagendashow.net/topic/federal-reserve.md), [digital identity](https://search.noagendashow.net/topic/digital-identity.md), [biometrics](https://search.noagendashow.net/topic/biometrics.md), [cash](https://search.noagendashow.net/topic/cash.md) ### FedNow, Instant Payment System, Digital Wallet - **Episode:** [1274: Thugs on a plane](https://search.noagendashow.net/episode/1274-thugs-on-a-plane.md) - **Published:** 2020-09-03 - **Time:** 18:02–22:33 - **Transcript:** https://search.noagendashow.net/episode/1274-thugs-on-a-plane/chapter/fednow-instant-payment-system-digital-wallet.md The Federal Reserve has launched "FedNow," a new instant payment system designed to modernize the U.S. financial infrastructure. Governor Lael Brainard justified the accelerated rollout by citing the need for faster delivery of emergency relief payments, such as those authorized in the CARES Act. The system aims to provide households and small businesses with immediate access to funds, bypassing traditional banking delays. Keywords: [fednow](https://search.noagendashow.net/topic/fednow.md), [federal reserve](https://search.noagendashow.net/topic/federal-reserve.md), brainard, digital wallet, [cares act](https://search.noagendashow.net/topic/cares-act.md) --- This is the markdown version of a page on The No Agenda Show for AI agents. Every public page on this site has one: add `.md` to its URL, or request it with `Accept: text/markdown`. - [Site index for agents (llms.txt)](https://search.noagendashow.net/llms.txt) - [Home](https://search.noagendashow.net/index.md) - [Search transcripts](https://search.noagendashow.net/search.md) - [All episodes](https://search.noagendashow.net/episodes.md) - [Topics](https://search.noagendashow.net/topics.md) - [People](https://search.noagendashow.net/people.md)