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  • Executive order does not usher in cashless society

    12/12/2022 5:55:13 PM PST · by Freedom56v2 · 83 replies
    AP ^ | 08.24.22 | ALI SWENSON and KARENA PHAN
    CLAIM: President Joe Biden signed an executive order in March 2022 that will introduce a cashless society, make paper money worthless, give government new power to inhibit purchases and create a social credit score system like the one in China, which would punish people financially for certain behaviors. AP’S ASSESSMENT: False. The executive order doesn’t do any of these things. It urged Federal Reserve to explore whether central bank should create its own digital currency and directed Treasury Department and other federal agencies to study the impact of cryptocurrency on financial stability and national security. THE FACTS: In March, Biden...