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it might be helpful to explain some of the tech involved in fednow--you know, distributed ledger; it has been rumored for several months that the fed has nowhere near the skilled help necessary to run this system. Rumored estimates say they won't even be close to that level of skilled workforce for several years... The millions of bad transactions at banks across the country last week would support these rumors/assertions. .....and then there are the other bugs in the software.; one can also speculate that a whole bunch of people, with an abundance of coding expertise, might soon be hacking fednow to enrich themselves. Great story; have fun with it.

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Nov 16, 2023Liked by David Haggith

Don't worry, they'll hire a thousand (incompetent) people to support it, then they'll engage hundreds of consultants at $400/hr to run it, all while those original thousand people surf porn until they retire with full benefits. That is how the government works.

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it might be helpful to explain some of the tech involved in fednow--you know, distributed ledger; it has been rumored for several months that the fed has nowhere near the skilled help necessary to run this system. Rumored estimates say they won't even be close to that level of skilled workforce for several years... The millions of bad transactions at banks across the country last week would support these rumors/assertions. .....and then there are the other bugs in the software.; one can also speculate that a whole bunch of people, with an abundance of coding expertise, might soon be hacking fednow to enrich themselves. Great story; have fun with it.

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author

It's definitely a good story if those things are happening. I haven't got anything specific on any of that, but it wouldn't be a surprise. Do you have any links to info on that kind of activity or that scale of breakdown. Right now all I've got is rumors, which is why I didn't go into any detail.

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Wow, you hit all the keys on the piano at once.

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author

Wait till I get going ; )

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