Biden’s new digital currency gives government full control of your money

Joe Biden is making plans to introduce a new digital currency that, if successful, will give government full control of your money — every single penny of it.

Creating new and improved ways to destroy liberty in America has become a fulltime obsession for progressives in Washington, but Joe Biden is taking things to a whole new level with his digital currency plans (via TheHill.com):

On March 9, the Biden administration released an executive order (EO) instructing a long list of federal agencies to study digital assets and to propose numerous reports about their use and proposals to regulate them. Much of the executive order is focused on cryptocurrencies such as bitcoin and ethereum, which run on blockchain technology and have become increasingly popular among many investors and consumers in recent years.

But there is an even more important part of the EO: President Biden has instructed the federal government and Federal Reserve to lay the groundwork for a potential new U.S. currency, a digital dollar.

If the United States were to adopt a digital currency like the one discussed in Biden’s executive order, it would be one of the most dramatic expansions of federal power ever made, one that could put individuals and businesses in grave danger of losing their social and economic freedoms.

Digital dollars would be traceable and programmable. The Federal Reserve (or some other designated entity) would have the ability to create more digital dollars whenever it sees fit, and, depending on how the legislation is written setting up the currency, the dollars could be formulated to have various rules and restrictions built into their design.

For example, a digital dollar could be crafted to restrict fossil-fuel use, to give bonuses to people for spending at particular businesses, to enact de facto price controls by disallowing users from spending too much on particular products, or even to redistribute wealth. (emphasis mine)

Biden’s digital currency will literally put every single cent of your money under government control to be spent (or not spent) as Big Brother sees fit.

We’ve seen foreshadowings of Biden’s desire for government control of our finances in some of his other liberty-killing ideas.

For example, I wrote last week about the philosophical connection Biden has with Justin Trudeau concerning government seizure of bank accounts belonging to people fighting tyranny. In that piece, I also documented Biden’s past history as Barack Obama’s right-hand man when they launched  Operation Choke Point, an anti-Second Amendment initiative that used banks and financial institutions to track down companies suspected of illegal activities without the Fourth Amendment’s protection against unreasonable search and seizure.

Perhaps using Operation Choke Point as a model, Biden has released plans of his own that will use financial institutions to destroy liberty in America since moving into the White House.

In May 2021, Biden proposed a plan giving the IRS power to spy on bank accounts. In September 2021, he provided details of his plan — I refer to it as a Patriot Act for the IRS — to give the agency enough money and manpower to spy on the finances of any person for any reason at any time. These surveilled people are suspected of no crime nor are they given any opportunity to opt out of this data collection. Still, Biden’s plan requires the government to preemptively tag and track their financial transactions as if they had done something wrong.

Despite the rhetoric spewed by progressives and Democratic Socialists to the contrary, Biden’s financial surveillance plan gives the IRS unlimited power to target every taxpayer regardless of income level.

But all of that could be irrelevant if Biden succeeds in creating a new digital currency that gives government full control of your money.

One pet project of progressives and Democratic Socialists is creating ways to define and control “wealth,” an objective easily achieved with Biden’s new digital currency.

For example, in a report released by the Federal Reserve in January about the development of a central bank digital currency (CBDC), a few examples of possible “design choices” for a digital dollar were provided, including one where “a central bank might limit the amount of CBDC an end user could hold.” (emphasis mine)

Using Biden’s own words, we are provided with plenty of reasons to believe that his digital currency will include a design giving the federal government and/or Federal Reserve full control over nearly every aspect of American society and the economy in order to advance the far-left agenda of progressives and Democratic Socialists.

Biden’s executive order states that CBDC and other policies governing digital assets must mitigate “climate change and pollution” and promote “financial inclusion and equity” — his executive order mentions “financial inclusion” five times along with “equity” and “climate change” being mentioned four times each.

Washington has an unquenchable thirst for more power over our daily lives — a situation made even worse by COVID tyranny — and if Joe Biden succeeds with his plan to create a new digital currency, government will have full control of our money, a full-blown police state will be established, and liberty will cease to exist in America.

 

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David Leach is the owner of the Strident Conservative. He holds people of every political stripe accountable for their failure to uphold conservative values, and he promotes those values instead of political parties.

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