The Biden administration is adopting one of Karl Marx’s most famous strategies: Put the government in charge of personal bank accounts. “Control the finances, control the man,” as the saying goes. This scheme seeks to eliminate cash as well as local banks and, thereby, make citizens slaves to their own government.

Two bills have been introduced in Congress that would stop them from taking over YOUR bank account. The administration wants to digitize your dollars, eliminate cash, and become your bank through a Central Bank Digital Currency (CBDC). We must rally support for these two pending bills to protect our freedom. Please take a moment to fax Congress now and demand they VOTE YES on HR 1122 and S 887. Then read on for the news. — Mat

Karl Marx and tyrants of both past and present have known the principle that to control a people’s money is to control the people themselves. The Biden administration knows it, too, and they’re trying to turn it into U.S. government policy. This is the easiest way to steal your freedom.

A CBDC will allow the government to know everything about your spending, savings, and more. The government will be able to coerce or veto your spending. A CBDC will allow the Biden “equity” agenda to skim value off the top of your dollar and shift it to another.

In his quest to fundamentally control populations, Karl Marx demanded “centralization of credit in the hands of the State, by means of a national bank with State capital and an exclusive monopoly.”

Marx knew that to control the man, one must control the man’s finances. Now the Biden administration is seeking to do just that by eliminating cash money and replacing it with programmable “digital dollars,” while also replacing your bank with the Federal Reserve (the Fed).

“The potential expansion of the money supply, and the Fed gaining new powers by stepping into the commercial banking/government transferor/collection agency role, is most concerning if not completely terrifying,” says Robert Aro of economic think tank Mises Institute.

Once the government is your bank, not only can they spy on your every financial transaction without a warrant or due process, but then the government can also control your money, and, thereby, your actions, any time they want.

Last year, the Federal Reserve issued a report entitled “Money and Payments: The U.S. Dollar in the Age of Digital Information.” In it, the Fed argues that “A widely available CBDC would serve as a close — or, in the case of an interest-bearing CBDC, near-perfect — substitute for commercial bank money.”

In other words, the government wants to become your bank, eliminating commercial bank “competition” and ending the use of cold, hard cash.

Congressman Tom Emmer (R-MN) has been tracking the issue. “It is important to note that the Fed does not, and should not, have the authority to offer retail bank accounts,” said Emmer, who sponsored HR 1102, which seeks to prevent Biden’s financial scheme from going into effect.

“The American people ought to be able to spend their money how they choose without the possibility that every transaction could be tracked by the government,” says Sen. Chuck Grassley (R-IA), a co-sponsor of Senate bill 887. “Policy this impactful should be made by Congress, not government bureaucrats, and our bill would ensure that no one is snooping on the finances of hardworking Americans. Every American deserves that peace of mind.”

According to economist Robert Murphy, “If average Americans hold bank accounts directly with the Fed, its control over their lives would be nearly absolute, particularly if cash is phased out.”

If Biden and climate alarmists like Alexandra Ocasio-Cortez have their way, the Fed could use your own money as punishment or reward to ensure you abide by “woke” dictates. If greenies feel you have used too many “fossil fuels” this month, they could simply block your ability to pay for gasoline.

If a person fails to fully embrace “ESG” (environmental and social governance initiatives), they could be forced to pay a higher interest rate on their mortgage or car loan — not because of poor financial credit, but poor “social credit.” Communist China enacts this very form of tyranny now … and Joe Biden is trying to do so, too!

It would be dangerous to give the government control of your bank account and every single cent you receive or spend. Such a policy would be disastrous with a man like Joe Biden or any of his Marxist ilk in charge. We must stop this takeover of our finances NOW!

Please sign our petition and fax Congress today. Make your voice heard and demand Congress VOTE YES on HR 1122 and S 887.

We continue to fight the Biden administration and the tyrants that seek to eliminate life, religious freedom, and the natural family. Since 1989, Liberty Counsel has fought in the halls of Congress, in courtrooms across America, and before the U.S. Supreme Court, where we have achieved multiple precedent-setting victories.

WE WILL NOT STOP RESISTING TYRANNY UNTIL AMERICA’S PRECIOUS LIBERTY IS FULLY SECURE!

Please help us FUND THIS FIGHT for FREEDOM! Support our legal fund, and a special Challenge Grant will DOUBLE THE IMPACT of your donation.

Mat Staver
Founder and Chairman
Liberty Counsel

Sources:

Aro, Robert. “Fedcoin Report Issued.” Mises Institute, January 24, 2022. Mises.org/power-market/fedcoin-report-issued.

“Federal Reserve Board Releases Discussion Paper That Examines Pros and Cons of a Potential U.S. Central Bank Digital Currency (CBDC).” Board of Governors of the Federal Reserve System, January 20, 2022. Federalreserve.gov/newsevents/pressreleases/other20220120a.htm.

Murphy, Robert P. “It’s Not Paranoid to Worry about a Central Bank Digital Currency.” Mises Institute, April 17, 2023. Mises.org/wire/its-not-paranoid-worry-about-central-bank-digital-currency.

“Sen. Cruz Introduces Legislation to Prohibit the Fed from Establishing a Central Bank Digital Currency”. U.S. Senator Ted Cruz of Texas, March 21, 2023. Cruz.senate.gov/newsroom/press-releases/sen-cruz-introduces-legislation-to-prohibit-the-fed-from-establishing-a-central-bank-digital-currency.