Digital Currency Is on the Way: Why This is a BIG Problem

[nivek]

Digital Currency Is on the Way: Why This is a BIG Problem​

For many Americans, the idea of using an Apple watch or PayPal for purchases is convenient. So much so, that Gallup found 6 in 10 Americans “make only a few or no purchases with cash today, nearly double the 32% saying they did so five years ago.”

In addition, Gallup found, “Sixty-four percent of Americans say it is ‘very likely’ or ‘likely’ that the US will be a cashless society at some point during their lives; meaning all transactions are done using an electronic method of payment rather than physical currency.”

While those questioned said America would be a cashless society at some point during their lives, the truth is it may be happening much sooner than we think – especially as President Biden signed Executive Order 14067: Ensuring Responsible Development of Digital Assets.

But is the convenience of digital currency worth the loss of freedom that may result?

The Basics of Executive Order 14067​

According to The White House, “President Biden [signed March 9, 2022] an Executive Order outlining the first ever, whole-of-government approach to addressing the risks and harnessing the potential benefits of digital assets and their underlying technology. The Order lays out a national policy for digital assets across six key priorities: consumer and investor protection; financial stability; illicit finance; U.S. leadership in the global financial system and economic competitiveness; financial inclusion; and responsible innovation.”

Read Executive Order 14067 in full here.

Sure, it is a good idea to identify the potential risks of digital assets and technology.

But, buried within it, is this line:

“Sovereign money is at the core of a well-functioning financial system, macroeconomic stabilization policies, and economic growth. My Administration places the highest urgency on research and development efforts into the potential design and deployment options of a United States CBDC.”

In other words, Executive Order 14067 is not merely identifying risks and benefits…it’s specifically attempting to develop a United States Central Bank Digital Currency (CBDC).

This would mean our national currency would become a digital version that is completely controlled by our country’s central bank. All transactions would be monitored by the Fed and our government.

If They Control the Money, They Control Us​

While more than 100 countries are moving toward Central Bank Digital Currencies, citizens need to be aware of the power this will ultimately give the government.
As Ron Paul said, “The cashless society is the IRS’s dream: total knowledge of, and control over, the finances of every single American.”

We’ve already seen examples of how political agendas have led to censoring people on social media platforms.
It doesn’t stop there.

There have already been cases where bank accounts have been frozen and third-party money platforms have banned those they deem a threat to the current political narrative.

If the United States adopts a CBDC, the government will have the power to monitor spending, control spending, and seize accounts.

If you think this sounds far-fetched, just listen to what the Bank for International Settlements general manager, Agustín Carstens, recently said:

“The key difference with CBDC is that Central Bank will have absolute control of the rules and regulations that we determine. [...] And also, we will have the technology to enforce that. Those two issues are extremely important.”

They’re telling us EXACTLY what they plan to do if we go cashless.

In fact, they’re doing it right in front of our faces. Here are a few recent examples of this tightening of control already playing out.

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