What Is Central Bank Digital Currency? Excellent video link via Rumble:
Posted on 01/18/2024 10:27:28 AM PST by chickenlips
Former President Donald Trump on Wednesday vowed that, should he return to the White House, he would block the Federal Reserve from developing a digital currency.
"Tonight, I'm also making another promise to protect Americans from government tyranny. As your president, I will never allow the creation of a Central Bank Digital Currency," Trump said at a rally in New Hampshire.
President Trump in New Hampshire: "Tonight, I'm also making another promise to protect Americans from government tyranny. As your president, I will never allow the creation of a Central Bank Digital Currency." pic.twitter.com/sLbmwy12Dl
— MAGA War Room (@MAGAIncWarRoom) January 18, 2024
A Central Bank Digital Currency (CBDC) is effectively a cryptocurrency under the control of a nation's central bank, which in the U.S. is the Federal Reserve. Differentiating them from standard cryptocurrencies is their link to a national fiat currency, according to Investopedia.
Republicans have long warned of the potential risk of such a move, with Florida GOP Gov. Ron DeSantis calling last year to ban the use of any potential CBDC in the Sunshine State.
"A federally controlled Central Bank Digital Currency is the most recent way the Davos elites are attempting to backdoor woke ideology like Environmental, Social, and Governance (ESG) into the United States financial system, threatening individual privacy and economic freedom," his office stated in March 2023. "The Biden administration’s efforts to inject a Centralized Bank Digital Currency is about surveillance and control."
He signed legislation to that effect in May of last year.
Excellent. CBDCs are fascist coin.
That must be stopped at all costs.
Who else gets this stuff? He’s admittedly not perfect, but show me one other
person that has the instincts Trump does. I have no doubt he is a legitimate
defender of our way of life.
Sounds like Trump is picking Vivek.
“... backed up by claims on the future labor of the sovereign citizens ...”
Sounds like American money except our promissory notes contain no explicit claims on our future labor.
“... backed up by claims on the future labor of the sovereign citizens ...”
Sounds like American money except our promissory notes contain no explicit claims on our future labor.
“... backed up by claims on the future labor of the sovereign citizens ...”
Sounds like American money except our promissory notes contain no explicit claims on our future labor.
Sure they do.
Treasury bills, notes, and bond are financial instruments that are a debt obligation to be paid back in the future by the Federal government (our labor).
This is clearly shown on the Fed balance sheet. The H.4.1 report.
Qadaffi brought up having a gold based African dollar.
What’s he up to now?…
They’re really going to hate him now. Where’s our gold?
The sooner the better.
There's absolutely no reason for a citizen to prefer a CBDC over decentralized cryptocurrencies that already exist. The only way they will only make a CBDC "work" is literally at gunpoint. Let's hope it never comes to that.
“... be paid back in the future by the Federal government (our labor)”
Short-term we do it by additional borrowing.
Guess you could say that the “future labor” is actually the same amount of labor for less real pay. Or the labor of having to find a new job. Or the reduction in take-home pay due to increased taxation to make our interest payments, or the reduction in the effectiveness of the tax we pay because more of it is unproductively used for interest payments.
In the final analysis you’re correct.
smile
The Central bank digital currency will be controlled by the central committee fear not.
/s
You will have nothing and like it.
Hillary Clinton
It would be SO much worse than what we have now!!
https://numismaclub.com/imgs/a/a/l/m/d/1928_10_redeemable_in_gold_gem_1928_b_old_paper_money_us_currency_au_1_lgw.jpg
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