Rep. Mooney Aims to Block Fed's Digital Currency Scheme

Opposition to having a Central Bank Digital Currency (CBDC) imposed on Americans is growing.

Along with privacy issues, having dollars replaced by a digital currency can put people's life and retirement saving in jeopardy with a push of a button.

One congressman has introduced a bill to block CBDCs.

Money Metals Exchange reported:

In recent days, sound money champion Congressman Alex Mooney (R-WV) introduced H.R. 3712, the Digital Dollar Pilot Prevention Act – legislation that would block the Fed from unilaterally pursuing any form of central bank digital currency (CBDC) scheme.

"Congress cannot give an inch when it comes to CBDCs. CBDCs would threaten the liberties of law-abiding Americans and are being used by authoritarian countries right now to crack down on dissent," said Rep. Mooney.

Rep. Alex Mooney (R-WV) is now running for U.S. Senate

H.R. 3712 is the latest in a growing backlash to central planners' designs to further centralize government control of currencies, including creating a greater ability to track all financial transactions, disallowing certain types of purchases, and even outright "turning off" a targeted individual's access to money.

Rep. Mooney's bill defines "central bank digital currency" as "a form of digital money or monetary value, denominated in the national unit of account, that is a direct liability of the Federal Reserve."

People should contact their representative and urge them to support Mooney's bill.

To read more, go here.

RFK Jr.: CBDC Financial Slavery and Political Tyranny

Above, Robert F. Kennedy Jr.

There comes the beginning of the loss of our financial freedom unless we stop it.

I have blogged about the pitfalls of a digital currency system before. 

CNBC posted on March 15:

The Federal Reserve’s digital payments system, which it promises will help speed up the way money moves, will debut in July.

FedNow, as it will be known, will create “a leading-edge payments system that is resilient, adaptive, and accessible,” said Richmond Fed President Tom Barkin, who is the program’s executive sponsor.

The system will allow bill payments, money transfers such as paychecks and disbursements from the government, as well as a host of other consumer activities to move more rapidly and at lower cost, according to the program’s goals.

Participants will complete a training and certification process in early April, according to a Fed announcement.

Robert F. Kennedy Jr. posted a response to this yesterday. I don't see anything in what he said to disagree with.

 

Caroline Kennedy ought to award her cousin a Profile In Courage Award for speaking the truth of this scheme.

Remember (Source: American Patriot Poll):

The 'digital dollar' puts all your money in the hands of the government.

They'll be able to.... 

• Know what's in your accounts and what you buy
• Limit what you purchase and the causes you support
• Take everything away with the click of a button

Will Economic Freedom End In July?

Above, Admiral Kirk and cashless society in the 23rd Century. Paramount Pictures.

Star Trek IV: The Voyage Home (1986) touched on being a cashless society in a scene between Dr. Gillian Taylor, the marine biologist, and Admiral James T. Kirk in the 20th Century pizza restaurant. 

Dr. Gillian Taylor: Don't tell me you don't use money in the 23rd Century.

Kirk: Well, we don't.

It would be nice if things today would be nice and benign as the 23rd Century (where the adventures of the starship Enterprise take place) where governments can be trusted in a cashless society. But, given the power-hungry politicians and Deep State bureaucrats who are now in charge of the federal government, it would take away our privacy, not to mention one's freedom.  

This is the topic in an article today in the American Thinker.

They begin it with:

The scene is as old as history.  An individual fleeing persecution wants to cross a border. His or her life depends on being able to bribe a border guard, with some fungible valuable item: whether gold, cash, silver, diamonds, etc. Life depends on it.

If the trade is prevented, then all hope is lost.

From the dawn of time, currency was the one thing that governments had difficulty tracking.  I am not considering checks, bills of credit, something written. Those are easy to trace. I am  talking about real currency. Currency in one’s hand, cash pressed in the flesh.

Bribery was always the province of the dishonest, but it often became the last resort of the honest: a war refugee wanted to cross a border before an invading army swoops in, a Jew wanted to evade a Nazi patrol, an Irishman wanted to get out of Ireland one step ahead of the Crown’s authorities.

Cash became the vehicle of freedom.

So what happens when that option is removed… by digital currency? What happens when fungible cash is made null and void?

Long-awaited Fed digital payment system to launch in July -- CNBC

The government is already trying to track gun store purchases through credit card business classification coding. (When this plan came to light, the backlash started. Others advocated using only cash to buy guns.) This hasn't been implemented due to the outcry. If this plan is fully implemented, gun purchases can be traced and the government could use that data to confiscate those guns. 

To read more, go here.