by David Haggith, Activist Post:

Recently several major banks were unable for days to process hundreds of thousands of payments. The explanation by the banks given in one report in today’s news headlines was that

The bank issues were a technical glitch with the Federal Reserve System.

A technical glitch with the whole Federal Reserve System? The banks were vague on what broke, but whatever it was stayed broke for a long time, stopping transactions for days on end. Was it FedNow that broke — the Fed’s new system that debuted this past summer and is supposed to enable your bank transactions to become nearly instant? Crickets. The Fed wasn’t saying; neither were the banks, but something was not nearly instant, except the speed at which the breakage showed up.