Monday, March 16, 2015

FRB: Help Your Country Create a Faster, More Secure Payments System

As promised in the paper Strategies for Improving the U.S. Payment System the Federal Reserve just released details for those interested in helping their country create a better payments system. Registration is open to all stakeholders (consumers and businesses) with "relevant payment knowledge and experience who can commit the required time and resources to these key initiatives." 

Participants of the Faster Payments Task Force will be asked to evaluate ways to implement a faster payments system in the U.S. The Secure Payments Task Force will assist in advising the Fed on payment security matters.

Diverse and committed membership will ensure a broad range of perspectives are considered as we pursue improvements to the U.S. payment system. We welcome and actively seek participation from the entire spectrum of payment system participants, including businesses and consumers.  -Esther George, president of the Federal Reserve Bank of Kansas City and executive sponsor of the effort

For additional information about the task forces, including charters, participation agreements, and registration forms, visit The Fed will also host a teleconference on March 20 and March 31 for Q&A.

If you like what you're reading, please join my mailing list to receive blog posts and updates as they occur. If you're an investor with all of your assets tied up in the stock market and cash, you might want to consider a few diversification strategies. Gold is the oldest asset in the world and it's inflation proof. Bitcoin is the gold standard for the cryptocurrency world, which is the fastest growing asset class in the world. Diversifying your portfolio into one or both of these assets can help to insure your portfolio against a stock market crash or inflation. Most importantly, it can help to safeguard the gains you've made over the last 10 years.

Please note that there are other companies that sell gold and Bitcoin on the market, and you should always do your research when making decisions about your portfolio. Just like your personal health, if you're planning on having major surgery, you need to get a second, and sometimes a third, opinion. You want to make sure your surgeon is good and has performed the procedure many, many times.  In the same way, you need to trust your broker and you need to make sure they are reputable. This is the process I used when looking for a broker to recommend.

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