Joe Biden tried to put the most massive power grab in U.S. history in motion.
But Biden found out some bad news.
And now Joe Biden’s secret play to destroy the dollar hit this huge setback.
The Biden administration and the secretive, unaccountable Federal Reserve are leaving the door open to eliminate the U.S. dollar and replace it with a Central Bank Digital Currency (CBDC).
“The Federal Reserve has made no decision on issuing a central bank digital currency (CBDC) & would not do so without clear support from Congress and executive branch, ideally in the form of a specific authorizing law. A CBDC would not replace cash or other payment options,” the Federal Reserve posted.
The Constitution mandates Congress coin money in Article I, Section 8, Clause 5 which grants Congress the power to “coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures.”
But the Federal Reserve saying a CBDC would “ideally” come about due to an act of Congress means the administration believes it holds in its back pocket the power to force all Americans to use a CBDC.
Tennessee Senator Bill Hagerty slammed these secret plans to grant the federal government unprecedented and unlimited powers to track and spy on every American’s financial transactions.
“The Biden Admin wants to kill market innovation to pave the way for a CBDC, which would give the federal gov. unprecedented insight into your life. I will fight to make sure this doesn’t happen,” Hagerty declared.
A CBDC would allow the government to monitor every purchase and sale in America.
The government will know what you buy at the grocery store, where you eat out for dinner, if you buy firearms, how many times you fill up your gas tank, and what forms of entertainment you engage in.
Hagerty’s statement of opposition to Joe Biden’s CBDC scheme came after Securities and Exchange Commission Chair Gary Gensler boasted that the government already possessed a digital dollar so there is no need for cryptocurrency.
“Look, we don’t need more digital currency,” Gensler told CNBC. “We already have digital currency. It’s called the U.S. dollar. It’s called the euro or it’s called the yen; they’re all digital right now. We already have digital investments.”
The opposition to Joe Biden’s CBDC is not contained to the right and is growing across party lines.
Joe Biden’s Democrat challenger Robert F. Kennedy Jr. slammed the idea of CBDC as an unconstitutional infringement on Americans’ essential liberties.
“It isn’t just criminals who want privacy,” Kennedy Jr. announced. “Governments harass their enemies and crush dissent by controlling bank accounts and payment platforms.”
Experts also warn that Biden’s CBDC could impose a dystopian nightmare on the country.
Head of private clients and family offices at Swan Bitcoin, Steven Lubka, told POLITICO his clients worry that a CBDC would allow the government “1984”-like surveillance powers to institute a Communist China-style social credit score.
“I talk to a lot of very educated, very wealthy, very successful people that have those concerns,” Lubka confessed.
The Biden administration supports banning gas stoves.
Left-wing environmental activists want to ban burgers and force people to eat bugs.
Liberals justify these attempts to control Americans’ lives on the basis of fighting climate change.
A CBDC would allow the Biden administration to freeze the bank accounts of Americans who cook too many hamburgers on their gas stove on the justification they are a threat to the planet.
This is not some imaginary scare story.
Authoritarian Canadian Prime Minister Justin Trudeau froze the bank accounts of truck drivers who protested Trudeau’s tyrannical COVID-19 vaccine mandate.
A CBDC would give Joe Biden that type of power.
And critics worry that, given that Biden is already trying to jail his political opponents, giving Biden the ability to monitor every financial transaction in America would allow Biden to assume near-dictatorial powers.
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