Central Bank Digital Currency
A Declaration of Economic War on Americans
Global banking behemoths started a 12-week digital dollar pilot with the Federal Reserve of New York.
Citigroup, HSBC, MasterCard, and Wells Fargo are among some banks participating in the experiment alongside the New York Fed. According to reuters.com, the project is called the “Regulated Liability Network.” The article goes on to say that the banks will test “how banks using digital dollar tokens in a common database can help speed up payment.”
“This is a major threat to U.S. sovereignty and is tantamount to a declaration of economic war on Americans,” according to
.Should the government move forward with this idea, this is what we can expect:
Traceability: You will no longer transact anonymously.
Negative Rates: There will be no option to hold physical cash.
Programmability: Digital currency must be spent by certain dates on certain items.
For instance, gas pumps could limit your purchase if you exceeded your allowable weekly carbon quota.
Didn’t get the vaccine? No problem. You just won’t get your weekly distribution of your CDBC.
Social Credit: Rewards for good behavior. Demerits for bad behavior.
We don’t like what you said on Twitter yesterday. We will deduct 10% from your weekly paycheck for poor social behavior.
This is exactly the path that China has taken. China has already implemented a social credit system scoring every citizen on a scale of 350 - 950 depending on where they go, what they buy, where they buy, and how much they save.
As a country, we would be wise to reject this.
What right does an unelected body (the banks) have to force its citizens to adopt a digital form of their own money? Where is Congress in all this? If Digital Currency is adopted, it will be just another example of how we are no longer a government of the people, by the people, and for the people.
Had we not bailed out the banks in 2008 and instead arrested and imprisoned every banker who participated in foisting the Great Recession upon the world, we may have been able to set the financial circus on the right path. However, today the banks have more power than they’ve ever had. Not only did we not reign them in, governments worldwide empowered the banks even more during COVID. The global banking system distributed trillions of dollars to important stakeholders (think big box stores) and destroyed the middle class and entrepreneurs. This strategy only strengthened the position of the banks, power brokers, elites, and multinational corporations.
Call your congressman and Senator today (if you think you can trust them); this cannot be allowed to happen.
This is checkmate if the CBDC happens.
You will own nothing and be happy.
World Economic Forum.