The Deputy Managing Director of the United Nations agency called the International Monetary Fund (IMF) has admitted what we have been saying all along — a Central Bank Digital Currency (CBDC) will allow governments to precisely control how and when people are allowed to spend their own money.

There are two matching bills in the U.S. House and Senate, known as the CBDC Anti-Surveillance State Act. We need YOUR HELP to get the rest of Congress to act on this liberty-saving legislation. Read on. — Mat

Speaking at the IMF/World Bank annual meeting in 2022, IMF Deputy Managing Director Bo Li told attendees that a “CBDC can allow government agencies and private sector players to program … targeted policy functions. By programming a CBDC, money can be precisely targeted for what people can own and what [people can do].”

To be clear, Li was not issuing a warning. Rather, he was extolling this government control of finances as a benefit.

The IMF is not a central bank, per se. Instead, it’s a bit more like the mother of all central banks. That’s because the IMF is an agency of the United Nations. As such, this U.N. agency advises the central banks of all U.N. member countries — including America’s Federal Reserve.

And the IMF — with the help of Joe Biden — is pressing for a global Central Bank Digital Currency that will exert control over everyone.

As you have learned through my emails on another United Nations agency, the World Health Organization (WHO), the U.N. seems to have become interested in imposing both surveillance and control on its member nations — including the United States.

In effect, the U.N., the IMF, and now Joe Biden’s CBDC executive order seek to impose Communist China financial spying and punishment on the world.

The Chinese Communist Party’s (CCP) CBDC is linked directly to the user’s digital ID. Though touted as a way to ensure “security” of one’s assets, the CCP has turned this “benefit” into a dystopian nightmare.

One documented case tells the story all too well. A Chinese citizen recently jaywalked across a metropolitan street. In real time, his face was instantly displayed on the billboards above to publicly shame the man, and a fine was instantly removed from his CBDC account.

In addition, Communist China is already acting out IMF Director Li’s stated programmability benefit. In China, if one has exceeded his or her allotted health care resources, they will not be allowed to pay for additional services even if there is money in their account.

Before becoming the United Nations’ IMF Deputy Managing Director, Bo Li served as the Deputy Governor of the People’s Bank of China. Now he oversees telling U.N. members’ central banks (like America’s Federal Reserve) what to do.

At least one of the Federal Reserve chairs here in America does not agree with the IMF that government controls are a “benefit.”

Speaking at an Expo in May 2023, Minneapolis Federal Reserve President Neel Kashkari said that “a government could monitor every one of your transactions with a central bank digital currency.” Kashkari sarcastically noted that such a policy is great for countries like China, who use this function for digital surveillance.

Kashkari also stated that a CBDC would also facilitate direct taxation of an account, before telling the audience that he shares their concerns about CBDCs and financial surveillance.

Rep. Tom Emmer (R-MN) is the main sponsor of HR 1122, the House version of the CBDC Anti-Surveillance State Act. A CBDC is “government-controlled, programmable money that can easily be weaponized,” according to Emmer.

The IMF’s own words indicate Emmer’s concerns are right on the money (no pun intended!).

We’ve had some success in rallying additional members of Congress to co-sponsor HR 1122 and S 887. However, these bills are still in committee. We need those bills to come to the floor for a full vote.

Cryptocurrency expert Martin Young warns that a CBDC represents “[t]he frightening possibility of programmable finance in a dystopian future where authoritarian states and banks control who can have access to money and who cannot and what they can spend it on.”

Such a concept flies in the face of American liberty. I hope you’ll join us in fighting CBDC.

Please also consider financially supporting our legal work. We have many groundbreaking new cases in the works, including defending freedom of the press, overturning bans on Christian counseling, battling the abortion industry’s attempts to reduce the human population, and much more. Please, give generously today and DOUBLE YOUR GIFT with our Challenge Grant.

Mat Staver
Founder and Chairman
Liberty Counsel

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Sources:

Andersen, Derek. “Minneapolis Fed President Kashkari Weighs in on CBDC: ‘Handwaving Word Salad.’” Cointelegraph, May 15, 2023. Cointelegraph.com/news/minneapolis-fed-president-kashkari-weighs-in-on-cbdc-handwaving-word-salad.

‌“IMF Chief Proposes Appointment of Li Bo as Deputy Managing Director.” China.org.cn, June 29, 2021. China.org.cn/business/2021-06/29/content_77594852.htm.

Rahma, Bary. “Exploring the Risks of CBDCs, Digital US Dollars.” BeInCrypto, May 1, 2023. Beincrypto.com/exploring-risks-cbdcs-digital-us-dollar/.

Young, Martin. “IMF Touts Programmable and Controllable CBDC for ‘Financial Inclusion.’” BeInCrypto, October 17, 2022. https://beincrypto.com/imf-touts-programmable-controllable-cbdc-financial-inclusion/.