Free Republic

A Central Bank Digital Currency is high on the list of authoritarian nightmares that might happen in a second Biden administration.It turns out there’s another concern about the growing power of the deep state that the corporate media don’t want you to think about. Florida is the most recent state to pass a bill banning the use of a Central Bank Digital Currency (CBDC). Louisiana, Alabama, Texas, and North Dakota are also considering the measure.Why the concern about a form of digital currency that has yet to be issued?Florida Gov. Ron DeSantis refers to the idea as a “wolf in...

Biden’s executive order gave the game away by stating that a U.S. digital dollar must ensure ‘financial inclusion and equity’ and monitor or mitigate ‘climate change and pollution.’President Joe Biden issued a sweeping executive order last year on Central Bank Digital Currency (CBDC), which “places the highest urgency on research and development efforts into the potential design and deployment options of a United States CBDC.” The Biden administration and its corporate media echo chamber want Americans to focus only on CBDC’s many benefits. But experiences in China, a nation that launched a digital currency in 2020, have shown that a...

The Federal Reserve Bank of the United States has announced that it is launching an instant payment transfer service called “FedNow Service,” which has features of a Central Bank Digital Currency (CBDC) and some analysts believe is the first big step towards a “digital dollar.” On Wednesday, within hours of our reporting that the Silicon Valley Bank and Signature Bank failures could spur renewed calls for the U.S. to implement a CBDC, the Federal Reserve announced that the U.S. is rolling out the FedNow instant payment transfer service in July. “The Federal Reserve announced that the FedNow Service will start...

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Twenty-five attorneys general and several other plaintiffs have sued the Biden administration asking the court to halt a federal ESG policy that could negatively impact the retirement savings of 152 million Americans. The lawsuit was filed in U.S. District Court Northern District Amarillo Division naming Secretary of Labor Martin Walsh and the U.S. Department of Labor as defendants. It alleges the U.S. Department of Labor created a rule prioritizing “woke” Environmental, Social, and Governance (ESG) investing that jeopardizes the retirement savings of 152 million workers, or two-thirds of the U.S. population. Last November, the Department of Labor finalized a rule...

In mid-November, while the whole world was focused on the Ukraine crisis, the US midterms or whatever other “big story” the media decided was more important, a truly momentous shift took place in the global financial system. It might seem like a small step on the surface, but it has the potential to bring about a real and possibly irreversible sea change in the way we use money; or better said, the way it uses us. As Reuters reported on the 15th of November, “Global banking giants are starting a 12-week digital dollar pilot with the Federal Reserve Bank of...

The Federal Reserve Bank of New York announced that it would be teaming up with global financial giants to launch a 12-week digital dollar pilot program. The New York Fed’s experiment will review how banks are able to process digital dollar tokens within the central bank system and quantify their impact, with the assistance of the some of the largest financial institutions in the world. Citigroup, HSBC Holdings, Mastercard, and Wells Fargo & Co. were among the major banks said to be participating in the trial, which was led by the Fed’s New York Innovation Center (NYIC), according to a...

The Federal Reserve Bank of New York began a simulated digital currency initiative on Tuesday alongside multiple major banks as the cryptocurrency sector descends into chaos. The digital dollar simulation, which is slated to last for 12 weeks, will “experiment with the concept of a regulated liability network,” a concept for a financial market infrastructure that would facilitate “digital asset transactions that connect deposits held at regulated financial institutions using distributed ledger technology,” according to a press release from the Federal Reserve Bank of New York. Analysts will test the “feasibility of payments between financial institutions” using tokenized assets. Among...

The Biden administration is moving one step closer to developing a central bank digital currency, known as the digital dollar, saying it would help reinforce the U.S. role as a leader in the world financial system. The White House said on Friday that after President Joe Biden issued an executive order in March calling on a variety of agencies to look at ways to regulate digital assets, the agencies came up with nine reports, covering cryptocurrency impacts on financial markets, the environment, innovation and other elements of the economic system.

The future of money is here; will the Federal Reserve Board be authorized to use distributed ledger technology for the creation, distribution and “recordation” of all the transactions of a Digital Dollar? On July 28, 2021, a new bill was introduced in the US House of Representatives. This bill, sponsored by Congressman Don Beyer,1) aims to regulate crypto-currencies. But it does more… The bill is called the “Digital Asset Market Structure and Investor Protection Act”2) (“Digital Asset Bill”). And for the majority, it sets out future rules for crypto. However, hidden in this bill, changes to the foundation of the...

Ever since China launched its digital yuan in 2019, western commentary has reacted to the initiative with waves of nonsense. Many of these articles suggest that the People’s Bank of China (PBOC) has stolen a march on the West. Many claim that China’s digital effort will secure the yuan global status and enable it to supplant the dollar as the world’s premier currency for international reserves and transactions.The venerable Economist magazine forecast that soon everyone everywhere will be using the digital yuan. The most recent wave of such commentary emerged after the Federal Reserve (Fed) and other central banks announced...

The US Federal Reserve took a step toward developing a digital currency as it announced plans to publish a research paper on the subject. The aim is to gather public comment and get the US play a "leading role" in the development of international standards, said Fed chairman Jerome Powell in a video message. "To help stimulate broad conversation, the Federal Reserve Board will issue a discussion paper this summer outlining our current thinking on digital payments, with a particular focus on the benefits and risks associated with CBDC in the U.S. context," Powell said. "As part of this process,...

I reported over the weekend an unusual video surrounding digital currencies that Federal Reserve chairman Jay Powell made last week: Federal Reserve Board Chairman Powell in Unprecedented Video Issues Commentary on Digital Currencies. Now we have Federal Reserve Board Governor Lael Brainard following up this morning with a speech on digital currencies via webcast at the Consensus by CoinDesk 2021 Conference, Washington, D.C. that even includes reference to an MIT-Federal Reserve test of a central bank digital currency. This morning she told the group:

Federal Reserve Governor Lael Brainard pressed the case for a digital dollar, saying Monday that a cryptocurrency backed by the central bank could provide a variety of benefits. Providing financial services to the nearly 1 in 5 Americans considered “underbanked” is one of the advantages Brainard cited in a speech to a conference presented by Coindesk. She also cited the safety of a Fed-backed system, as well as improvements in efficiency and cross-border payments, or transactions between people in different countries. While stressing the importance of moving forward carefully, Brainard said the Covid-19 pandemic strengthened the need for a system...

(Video)If it feels like the U.S. government is spending money like it's going out of style ... it's because it is! Glenn exposes the TRUE state of our economy that the Biden administration doesn't want you to see. Obama kicked off a spending spree that was continued under Trump, and now Biden will finally push us over the ledge with the $2.3 TRILLION "infrastructure" deal. All signs point to a major economic disaster. And the perfect storm is brewing to convert the greenback into a new digital currency. Think Bitcoin, but with CENTRAL bank control, where we could see the...

some Congress members get their way, the Federal Reserve may soon be able to track many of your purchases in real time and share that information with government agencies. This is just one of the problems with the proposed “digital dollar” or “fedcoin.” Fedcoin was initially included in the first coronavirus spending bill. While the proposal was dropped from the final version of the bill, there is still great interest in fedcoin on Capitol Hill. Some progressives have embraced fedcoin as a way to provide Americans with a “universal basic income.” Both the Senate Banking Committee and the House Financial...

Like many Americans, I am astonished and outraged at what the Democrat Party has attempted to do with the Coronavirus Relief Bill. I am not a fan of bailouts, but this situation is unprecedented, and I am inclined to go along with a bill to help people and businesses affected by this. And there are many. When I heard the list of things that had been inserted in this bill by Nancy Pelosi and her ilk, it made my blood boil. Then, when I began looking closer, the range of things seemed bizarrely disconnected, as if they had taken their...