Posted on 02/23/2023 10:45:48 AM PST by Golden Eagle
House Majority Whip Tom Emmer (R-MN) on Wednesday introduced legislation to prevent the Federal Reserve from issuing a central bank digital currency (CBDC), which he and others say could surveil Americans’ financial activity.
“Today, I introduced the CBDC Anti-Surveillance State Act to halt efforts of unelected bureaucrats in Washington, DC from stripping Americans of their right to financial privacy,” Emmer, a staunch cryptocurrency advocate, wrote (on Twitter).
He continued, “Any digital version of the dollar must uphold our American values of privacy, individual sovereignty, and free market competitiveness. Anything less opens the door to the development of a dangerous surveillance tool.”
Emmer said that the bill would bar the Federal Reserve from issuing a CBDC, prevent the Fed from using a CBDC for monetary policy purposes, and require the Fed’s CBDC projects to be transparent.
CBDCs are digital versions of national fiat currencies that operate on private blockchains.
He noted, “After all, America remains a technological leader not because we force innovations to adopt our values under regulatory duress, but because we allow technology that holds these values at their core to flourish.”
Emmer said that Reps. French Hill (R-AR), Warren Davidson (R-OH), Andy Biggs (R-AZ), Mike Flood (R-NE), Byron Donalds (R-FL), Pete Sessions (R-TX), Barry Loudermilk (R-GA), Young Kim (R-CA), and Ralph Norman (R-SC) cosponsored the bill.
(Excerpt) Read more at technocracy.news ...
...yet an other instance of legislation intended to prevent the federal government from doing that which it isn’t Constitutionally permitted to do in the first place...
And the Biden et al admin has NEVER overstepped our Constitution.
Dollars are already a figment of our collective imagination, represented by a piece of paper. All a CBDC does is remove the paper.
What should be: You can do whatever is not prohibited by law, the government can do only what it has explicit power to do.
What is: Exactly the opposite.
“When you see that trading is done, not by consent, but by compulsion - when you see that in order to produce, you need to obtain permission from men who produce nothing - when you see that money is flowing to those who deal, not in goods, but in favors - when you see that men get richer by graft and by pull than by work, and your laws don’t protect you against them, but protect them against you - when you see corruption being rewarded and honesty becoming a self-sacrifice - you may know that your society is doomed.”
No that is not true.
CBDC allows them to monitor and take your money in real time.
Paper dollars do not allow them to do that.
I would consider anyone opposing this to be an enemy of the people.
“Paper dollars do not allow them to do that.”
Well, only if you do all of your business with actual paper dollars. Probably for 99% of the people alive today, that is not true. Their “paper dollars” are already mostly digitized and fully trackable, just not by government edict.
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