When I first heard of Biden's plan to create phony digital money the other day, I was going to blog about it here. But Gary at The Federalist blog has it all presented out better than I could.
Here's a part of what he posted:
Phony Digital Biden Bucks.
With digital "money" Big Brother government will just add zeros to the bank balances of their supporters and click "delete" on the accounts of their opponents.
(The Rutherford Institute) The government wants your money.
It will beg, steal or borrow if necessary, but it wants your money any way it can get it.
Because the government’s voracious appetite for money, power and control has grown out of control, its agents have devised other means of funding its excesses and adding to its largesse through taxes disguised as fines, taxes disguised as fees, and taxes disguised as tolls, tickets and penalties.
No matter how much money the government pulls in, it’s never enough, so the government has come up with a new plan to make it even easier for its agents to seize Americans’ bank accounts.
Make way for the digital dollar.
With paper money abolishedprepare for hyperinflationIn an Executive Order issued on March 9, 2022, President Biden called for the federal government to consider establishing a “U.S. Central Bank Digital Currency (CBDC).”
Similar to cryptocurrencies such as Bitcoin, CBDCs would also be a form of digital money, but there the resemblance ends. If adopted, CBDCs would be issued by the Federal Reserve, the central banking system for the U.S. government. One CBDC digital dollar would equal the value of a physical dollar.
And like the physical dollar, which ceased to be backed by gold more than 50 years ago, the CBDC would be considered a government-issued fiat currency that is backed by the strength and credit of the U.S. government. (Of course, that’s not saying much considering that much of the time, the U.S. government operates in the red.)
To read the full story, go here.
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