GP:
House Majority Whip Tom Emmer (MN-06) reintroduced his flagship legislation, the Central Bank Digital Currency (CBDC) Anti-Surveillance State Act, signaling a strong countermove against the Biden regime’s overreach into Americans’ financial privacy.
Emmer has rallied a significant bloc of 50 original Republican co-sponsors, underscoring the concern among conservatives about the implications of a government-issued digital currency.
At the core of this legislation is the principle that a Central Bank Digital Currency, unlike decentralized cryptocurrencies like Bitcoin, would give the federal government unprecedented powers to monitor and control individual financial transactions.
“The administration has made it clear: President Biden is willing to compromise the American people’s right to financial privacy for a surveillance-style CBDC. That’s why I’m reintroducing my landmark legislation to put a check on unelected bureaucrats and ensure the United States’ digital currency policy upholds our values of privacy, individual sovereignty, and free-market competitiveness,” Whip Emmer said in a statement.
“If not designed to be open, permissionless, and private – emulating cash – a government-issued CBDC is nothing more than a CCP-style surveillance tool that would be used to undermine the American way of life,” Emmer added. more here
You can only hope, that’d be their nail in the coffin
If CBDC is implemented it will be a nail in our coffin!
I would be curious to get the names of Republicans in the House who do NOT vote for this, “Given the rampant non-compliance of adequate and proper tax reporting on income, we in the government find it necessary to adopt a currency by which we can easily track all transactions. We are doing it for the benefit of all the people, to make sure that everyone pays their fair share. We feel that privacy must take a backseat to equity, it is for your own good”.
“You will own nothing and be happy about it”, the first part they have control over, the second part, not so much.
Unbanking the precious metal businesses is a step in that direction. I can only pray they do stop this from happening. But the Bible says it will happen.
Sometimes I want things cushy instead of what God’s plan is. Well, pretty much all the time.
control and a digital paper trail
Cash, gold and silver, and decentralized crypto are threats to anyone wanting to create a surveillance state, and will eventually have to eliminated for the state to expand its control. Unbanking the small independent precious metal dealers means that it will be impossible for them to remain in business, which I think is a run-up to the Feds eventually outlawing the private ownership of gold and silver. Owning the stuff doesn’t do you any good if you don’t have any way to actually trade with it or to convert it to some other form of anonymous currency. This means that the only way for people to use the gold or silver they do have is to either use it directly in private trade (that is, barter) with someone still willing to accept it despite the presumed eventual ban on private ownership, or to exchange it by going through the vendors who do remain, who will likely be allied with the government. Selling to these government-sponsored vendors means that you will probably have to register every sale, it will probably be at below market value (since they’ll have a legal monopoly on purchasing the stuff), and you will probably only have a narrow window to sell it off voluntarily before they simply demand that you turn it in. (And of course, if you make even one registered sale, they’ll likely assume that you still have more in reserve.) Same thing for cash and crypto: it will be illegal or at least increasingly difficult to use it as originally intended, and people will be driven to convert it voluntarily for a CBDC before it becomes useless or even illegal to possess.
How will the cartels do business if cash, crypto and precious metals are outlawed? Something to think about because I’ve believed for some time now that the cartels are deeply entrenched within the political class here in the US.
A CBDC will be a big FU to the cartels and they’re not going to just walk away shaking their heads saying, oh well.
If they don’t want you going out of the house, they turn off your abilities to purchase anything