While the radicals at the World Health Organization (WHO) fight to control your food and your health, the globalist central bankers are trying to seize control of your money. The combination results in unelected, unaccountable tyrants able to control everything you do.

Today, we will discuss the difference between cryptocurrencies and Central Bank Digital Currencies (CBDCs), and how Joe Biden is attempting to impose China-style financial surveillance and controls upon us all. — Mat

Bitcoin was invented in 2008 by an anonymous individual called Satoshi Nakamoto to create a free-market currency that cannot be controlled by governments or central banks. The cryptocurrency was reportedly created as a stopgap measure against the Communist Chinese government’s currency manipulation and tyrannical control over its people.

Cryptocurrencies like Bitcoin are permissionless, meaning anyone can use cryptocurrency without government permission, and can use those funds however they want — without government oversight or control. That decentralization means the cryptocurrencies are “run by the people, for the people,” according to Goodbit, a cryptocurrency education group.

But Joe Biden and the globalists want to change this and exert total control.

Cryptocurrencies are decentralized, meaning there is no central authority controlling the currency. Cryptocurrencies cannot be seized, manipulated, or frozen by central bank government authorities.

“Because no one can increase the supply of Bitcoin beyond its predetermined mining schedule, no one can arbitrarily erode its value like the U.S. government has done with the dollar through money-printing,” says economist Brad Polumbo.

Bitcoin’s rising popularity “left many government bureaucrats feeling left out,” Polumbo says. So those bureaucrats decided to produce their own digital currency — one designed to counteract and eliminate all the privacies and securities Bitcoin had created.

In contrast to cryptocurrencies, CBDCs are both permission-based and centralized.

Because CBDCs are both permission-based and run by central banks, they give a government (and their globalist 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” — and entire economies — at their whim.

CBDCs also eliminate cash and the privacy it offers. And because the government will be your direct bank, they will see and have the ability to control every transaction you make, including whether, and how, you are allowed to use those funds.

China is a prime example of how governments can use CBDCs as a weapon against the people. The Chinese Communist Party (CCP) dictates its citizens’ spending habits with line-item budgets it enforces through its “digital yuan.”

If the CCP believes a citizen has used too much gasoline for the month, his or her CBDC will be rejected at the pump — even if plenty of funds are available in the citizen’s account. If the CCP believes a citizen has used too many health care resources, that person will no longer be able to use their own money to pay for doctors, treatments, or medications.

And if a person belongs to a disfavored religion or speaks out against the government, the funds can be erased, and the person is left with nothing.

But if you think only the bad guys in the CCP are using this to control their people, think again.

Not ONE of the governments or central bankers have designed their CBDCs to pay interest, according to a 2021 Goldman Sachs report. The report notes that these central bankers are considering “setting a penalty on holdings above a certain threshold.”

Whether by default or design (I’m leaning toward the latter), CBDCs have been programmed to disincentivize people from saving, and further penalizing those who chose to build a nest egg, even without interest earnings.

It gets worse. The Goldman Sachs report notes that under the guise of preventing “illicit activity,” the central bankers have “decided against fully anonymous accounts” and/or have capped the amount of money one can handle anonymously.

The European Central Bank (ECB) is considering imposing balance limits that forbid people from saving more than the ECB wants them to save.

Sweden is considering imposing “negative interest rates” through which Swedish citizens will be CHARGED for having too much money in their savings account.

And the ECB also wants to share users’ spending data with “financial intelligence units” (think of the IRS + FBI on steroids) to spy on citizen finances.

In a May 4, 2022, press conference, Federal Reserve Chair Jerome Powell admitted something alarming. He said that the Fed believes its main job is to “keep wages down.”

Now they want to prevent you from saving what money you can acquire!

Joe Biden does not have that power in America YET. But he and his tyrannic cohorts WILL have these powers and more unless we compel Congress to stop Biden’s CBDC NOW, before they can enact their “doomsday” plans.

Mat Staver
Founder and Chairman
Liberty Counsel

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Sources:

“Bitcoin 101.” Goodbit. Accessed January 9, 2024. Goodbit101.com/learn/bitcoin-101.

Polumbo, Brad. “Why a ‘Digital Dollar’ Is a Really Bad Idea.” Activist Post, September 13, 2022. Activistpost.com/2022/09/why-a-digital-dollar-is-a-really-bad-idea.html.