In March of last year, Joe Biden ordered the Federal Reserve (the Fed) to begin investigating a programmable digital dollar, known as a “CBDC” or Central Bank Digital Currency.

The Fed has gone one step further, coding, developing, and testing this CBDC at the Boston Fed. Now the central bankers are simply waiting for Joe Biden’s “go ahead” to force his control-minded funny money on unwitting Americans. Read on to learn why some experts are calling Biden’s plan “borderline dystopian,” and the chance we have to stop it. — Mat

Executive Order 14067 was issued on March 9, 2022. Entitled “Executive Order on Ensuring Responsible Development of Digital Assets,” Biden’s order instructs the Federal Reserve (the Fed) to begin developing a CBDC for use in America, a process that has already begun. The Boston Fed is already testing this new digital programmable “money” via “Project Hamilton.”

The Boston Fed partnered with the Massachusetts Institute of Technology’s (MIT) Digital Currency Initiative to complete the first round of testing in December 2022. A white paper MIT released noted numerous problems with the project. But that’s not stopping Joe Biden, the Fed, or MIT from barreling full speed ahead into doing the globalist central bankers’ will.

Nor is this simply an American issue. Based on MIT’s trial for the Fed, the Bank of Canada and the Bank of England also engaged MIT to begin developing a CBDC for their governments as well.

Despite being digital, CBDCs are NOT cryptocurrencies. In fact, CBDCs have been developed to counter the expanding use of cryptocurrencies like Bitcoin. Why? First, because cryptocurrencies are permission-less, meaning anyone can use cryptocurrency without government permission, and can use those funds however they want — without government oversight or control. That means the cryptocurrencies are “run by the people, for the people,” says cryptocurrency expert Layah Heilpern.

Second, cryptocurrencies are decentralized, meaning no central authority controls the currency. In other words, cryptocurrencies cannot be seized, manipulated, or frozen by central bank government authorities.

The decentralized nature of cryptocurrencies is especially important, says Brad Polumbo, an economic policy analyst who has advised numerous members of Congress as well as the Foundation for Economic Education (FEE) “because no one can increase the supply of Bitcoin beyond its predetermined mining schedule, no one can arbitrarily erode its value like the US government has done with the dollar through money-printing.”

But that’s not the case with a CBDC. In contrast, a CBDC “would offer governments new, unprecedented ways to control citizens,” Polumbo says.

Because CBDCs are both permission based and central bank run, they give the government (and their global central banker pals) the ability to control the money supply with the press of a button, inflating or deflating the value of those digital “dollars” on a whim.

CBDCs also make the government your bank and are in charge of your money, including whether and how you are allowed to use those funds.

It’s not hard to imagine “a future government deciding that gasoline must be rationed in order to address climate change. Your ‘digital dollars’ could be made to stop working at the gas pump once you’ve purchased a certain amount of gasoline in a week,” Polumbo says. “In this way, a central bank digital currency would open up new avenues for the government to assert control over our everyday lives.”

The Chinese Communist Party (CCP) already uses a CBDC to control its citizens’ behaviors, fiscally punishing people for things which the communist central planners dislike, including posting too much to social media, playing too many video games, or buying too much gasoline.

Biden’s plan to implement a CBDC here in America “would make our wealth and incomes less truly our own,” Polumbo adds. Instead, every American’s personal finances would be in the hands of whichever party holds the White House, and that president’s obedience to the global central bankers. Joe Biden’s continual push to cede U.S. sovereignty to the United Nations and its subsidiaries like the World Health Organization — should give us a very clear and disturbing view as to where central bankers’ digital funny money will land us.

Thankfully, some in Congress are pushing back against the Biden administration and its CBDC plans. Right now, Congress is considering three bills to protect our privacy from Joe Biden and his global central banker plans — HR 1122, HR 3712, and S 887. Please take a moment right now to fax Congress and demand they VOTE YES on HR 1122, HR 3712, & S 887!

YOUR GENEROUS SUPPORT allows Liberty Counsel to continue fighting and winning in courtrooms across the nation and before the U.S. Supreme Court on behalf of life, religious freedom, and the natural family.

We have multiple cases pending, including defending military members and health care workers against shot mandates, aiding organ transplant patients, overturning Christian counseling bans, fighting for freedom of speech, and defending the free press, religious liberty, parental rights, and pro-life warrior and undercover journalist Sandra Merritt. This Friday, the Supreme Court will be conferencing on our case in Maine on behalf of health care workers. And this is just the tip of the iceberg.

Mat Staver
Founder and Chairman
Liberty Counsel

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Sources:

“Bank of Canada Plans 2023 CBDC Consultation as It Moves to Development.” Ledger Insights, December 13, 2022. ledgerinsights.com/bank-of-canada-plans-2023-cbdc-consultation-as-it-moves-to-development/.

“Boston Fed’s Project Hamilton Concludes as MIT Scheduled to Release Report in 2023.” Tokenhell, December 26, 2022. https://tokenhell.com/boston-feds-project-hamilton-concludes-as-mit-scheduled-to-release-report-in-2023/.

“Executive Order on Ensuring Responsible Development of Digital Assets.” The White House, March 9, 2022. Whitehouse.gov/briefing-room/presidential-actions/2022/03/09/executive-order-on-ensuring-responsible-development-of-digital-assets/.

Polumbo, Brad. “The Biden Admin Is Recommending the Creation of a ‘Digital Dollar.’ Here’s Why That’s a Really Bad Idea.” FEE, September 13, 2022. https://fee.org/articles/why-a-digital-dollar-is-a-really-bad-idea/.