House votes to block Federal Reserve from creating own digital currency

Fox Business News ^ | 05/24/24 | Elizabeth Elkind

[SeekAndFind]

The House of Representatives on Thursday voted along bipartisan lines to advance legislation blocking the Federal Reserve from creating its own central bank digital currency (CBDC).

Three Democrats joined all Republicans in voting for the bill — moderate Reps. Jared Golden, D-Maine., Mary Peltola, D-Alaska, and Marie Gluesenkamp Perez, D-Wash.

The CBDC Anti-Surveillance State Act was led by House Majority Whip Tom Emmer, R-Minn., and backed by Republican members of the House Financial Services Committee.

If passed in both chambers of Congress, the bill would be a significant step toward curbing the federal government's ability to regulate cryptocurrency, but it's not clear if it will be taken up in the Democrat-controlled Senate.

"For more than two years, we have worked to educate, grow support, and pass this important legislation, which prevents unelected bureaucrats from issuing a financial surveillance tool to fundamentally undermine our American values," Emmer told Fox News Digital.

“My legislation ensures that the United States' digital currency policy remains in the hands of the American people, so that any development of digital money reflects our values of privacy, individual sovereignty and free market competitiveness. This is what the future global digital economy needs."

[bert]

Correct.

Money is an entry on an electronic ledger. Paper money is a physical representation of that digital ledger entry.

Every person has multiple electronic ledgers. No one gets paid these days, money in the form of electronic blips travels from the employer’s ledger to the employee’s ledger after sending some blips to the feds for withheld taxes.

Even welfare is electronic . A temporary special ledger in the form of a plastic debit card represents the recipient’s ledger with the government. The card permits direct transfer from the government ledger to the Walmart or McDonald’s ledger in payment.

Although many here eschew the practice, we already live in a cashless society that renders paper and metal money unnecessary.

[SaveFerris]

(steps in with CBDC’s)

I think it’s unavoidable

Everything will be tracked

Every purchase will be tracked

I expect cash to disappear (eventually)

People will begin to understand that
there will be no escaping the coming
Mark of the Beast (later, that is)

It will make COVID-19(84) look like a Sunday afternoon picnic 🧺.

[SaveFerris]

You’re welcome!

Hopefully we can tell and evangelize as many as possible before then.

The hour is late 🕚🕚🕚🕚 and the days are evil.

God bless you 😇🙏🛐😇😇😇✝️✝️✝️

[delta7]

The dollar has been a digital currency since the 1970’s
——
You are so, so misinformed.Let me help you, a CBDC is a government ( Sovereign) cashless system that abolishes all anonymous financial transactions….ALL financial transactions will be recorded and monitored- and taxed.

….the only “good” thing- the current plans state we can abolish the IRS, your digital account will have all taxes deducted as they deem appropriate…. Income, gas, food, baby sitter, mileage taxes, ammo, guns, beer, property taxes, …best you start using your reasoning abilities.

[Openurmind]

Why is it soooooooooo hard to do this? I attribute it to personal greed. laziness, and so called “comfort” and “convenience”.

Then they have absolutely no justification to complain at all, it is their own fault all this is happening. They are doing it to themselves and INSIST on continuing to do it to themselves and take us and our Grandkids down with them...

Selfishness, pure selfishness.

[SharpRightTurn]

A rare instance of the Repugs sticking together to stop a Deep State measure. Still, Hallelujah.

[fuzzylogic]

While I applaud this (rare)...agreed, it isn’t going away. There’s too much power associated with it. If anything, I’d argue they’ll create a ‘convenient crisis’ to re-introduce it as the solution.

[RayChuang88]

Now you wonder if George Orwell's 1984 describes what the cabal wants for the world, especially the working classes.

[Openurmind]

“Now you wonder if George Orwell’s 1984 describes what the cabal wants for the world, especially the working classes.”

Maybe someone else... I read it many years ago and have watched it play out since.

A more current example would be the movie “Demolition Man”. It is right on the money as to what is coming.

Pretty soon we will all be wiping our asses with AI deigned recycled shells.

[Carriage Hill]

Firing it up in a few minutes. Many thanks.

[SaveFerris]

YT kept throwing it at me a couple of years ago.

I usually avoid that stuff like the plague.

But the non-sales pitch part of it was quite interesting.

Hope you find it halfway-decent.