Almost every country is continuing their push toward CBDCs. They learned a lot in Nigeria with the failure of that effort. It was challenging in some respects. First, much of the population was unbanked, not already using the government's centralized financial system. Second, the proportion of people already using cryptocurrencies is larger than in most places, providing a viable option away from banks and physical currency. All that's needed is further adoption, with friends and family ready to help. Lastly, black markets were already well established for most things people need. Nigeria was definitely a far tougher CBDC implementation than it will be in the land now known as USA, because few people here share in any of those three respects.

The federal reserve is now prepared for a massive consolidation of the banking industry. The big banks' exposure to huge treasury and housing real estate debt losses, from the historic interest rate increases, are being covered-up by programs which hide the red ink in the fed's balance sheet. Also, enormous amounts of big banks' reserves are on deposit at the fed, created by the fed's debt bail-out programs, which even pay interest.

Meanwhile, Jay Powell recently stated,

"There will be certainly -- there will be some banks that have to be closed or merged out of, out of existence because of this. That'll be smaller banks, I suspect, for the most part. You know, these are losses. It's a secular change in the use of downtown real estate. And the result will be losses for the owners and for the lenders, but it should be manageable."

The fate is now sealed for a lot, possibly a large majority, of small and medium sized banks with considerable commercial real estate debt losses.

The transition will occur during an extended bank holiday, initiated by Claus Schwab's cyber pandemic as a false flag, precipitating a financial system collapse. It will all be blamed on Russia, China and/or Iran. The "holiday" will cause unbearable social unrest with 24/7 mainstream media coverage, between propagandizing the cyber pandemic act of war. This will cause a widespread clamoring for "solutions". These will be provided in comprehensive CBDC and digital identification legislation which outlaw cryptocurrencies, conveniently ready to ram through congress, just like the "Patriot" Act after 9/11.