Good News: Bill To Kill Digital Currency

GOP Supports Bill of Rights, Dems Support Government Surveillance

FINALLY, politicians are doing SOMETHING to stop the Ruling Elite & the Federal Reserve from outlawing cash, wiping out human rights and pushing 99% of Americans into serfdom via complete control of OUR funds. From the very beginning, the Federal Reserve has insisted upon TOTAL control of Central Bank Digital Currency WITHOUT any “interference” from the House & Senate, The People’s elected representatives. No wonder Big Media has not reported on this. I stumbled upon this House Bill when Dr. Steve Turley played a C-Span video clip on his podcast.

GOP Congressmen/women in the House Financial Services Committee voted on September 20th in favor of a proposed law that aims to stop the Federal Reserve from issuing a central bank digital currency (CBDC), and outlawing cash.  The committee passed the CBDC Anti-Surveillance State Act, HR 5403, during a markup session.  It was passed out of committee along a strict party line vote: All 20 Democrats present voted “Nay,” and all 27 Republicans present voted “Aye.” 

Congressman Tom Emmer (R-MN), who re-introduced the bill, says the proposed legislation will prevent the federal government from issuing a financial surveillance tool that will jeopardize privacy, individual sovereignty and free market competitiveness. [When Democrats were in control they killed this Bill.]

“If not open, permissionless, and private – just like cash – a central bank digital currency is nothing more than a CCP (Chinese Communist Party)-style surveillance tool that can be weaponized to oppress the American way of life.  It halts the efforts of the administrative state under President Biden from issuing a financial surveillance tool that will undermine the American way of life.”  Emmer went on to say “If not designed to emulate cash, [digital currency] could give the federal government the ability to surveil and restrict Americans’ transactions.”

AVOIDING CCP’S SOCIAL CREDIT SYSTEM

Emmer mentioned the Chinese digital yuan and government social credit system and Canada’s freezing of bank accounts during the truckers’ protest of 2022 as he introduced the bill. The bill has the support of 60 senators and numerous organizations, according to Emmer. Sixty senators? Does that mean there are Democrats in the senate who want to maintain Americans’ freedoms? THAT is a miracle.

The digital dollar will give the government the ability to track purchases and collect people’s intimate and personal details.  Digital dollars will be completely controlled by the federal government who will decide how much each person gets AND how, when, where, if he/she spends it.

Ranking member Maxine Waters admitted that financial privacy would die for Americans under government-controlled digital currency.  Nevertheless, she renamed the bill “The CBDC Anti-Innovation Act.” She said it would threaten the status of the dollar as the principal global reserve currency, adding:

“We don’t know at this point how the introduction of CBDCs could shape the global financial landscape. […] Republicans are making baseless attacks against a CBDC that does not even exist.”

SLEEPER ISSUE IN 2024 ELECTIONS?

Tom Emmer, House majority whip and crypto proponent, says that digital assets have become a “sleeper issue” in U.S. politics, in both state and federal elections. At least 20 states have either outlawed CBDC within their states, or have bills pending.

Florida Gov. Ron DeSantis, a Republican polling second behind President Donald Trump, promised in July to ban CBDCs in the U.S. should his he be elected president. In May, he signed a Florida bill into law aimed at largely prohibiting the use of a federally issued digital dollar in his state. Other presidential candidates who have taken positions opposing CBDCs include Republican Vivek Ramaswamy and Democrat Robert F. Kennedy Jr. 

After debate, the legislators agreed that the bill prevents the issuance of a CBDC without an act of Congress, which has been insisted on by the Federal Reserve from the beginning. The general lack of financial privacy under CBDC was also noted by both sides: Democrats want to destroy your privacy and Republicans want to maintain it.