Advancing Life and Liberty Through Action

Stunning Spread of Digital Currency

Jun 10, 2024

There are 167 nations that have started down the path toward a state-owned, government-run, digital, programmable currency. That is nearly 90% of the countries in the world. The Central Bank Digital Currency (CBDC) agenda is mushrooming, and we need to take action now.

China, United Arab Emirates, Saudi Arabia, Thailand, and Hong Kong are all asking private companies to get involved with their joint CBDC in something called “Project mBridge,” which will encourage the private sector to find “new solutions and use cases that help develop the platform and showcase all its potential.”

“The end goal is to create a “universally accessible” multi-CBDC infrastructure, which is to control not just all the money in one nation but to be able to control all the money across multiple nations — all at the same time.

The creator of Project mBridge, BIS Innovation Hub, clearly states, it has “no plans to include private sector firms” in this technology, Cointelegraph reports.

This gives far too much control for any one party to have within our nation, let alone to have across multiple nations. We need to make our voices heard and tell Congress no government eyes or fingers on our personal money.

Tell Congress to support the new Senate companion bill to HR 1122 as well as S 887 to protect Americans from Biden’s communist-like currency, then read on for this shocking plan to control us. — Mat

The Biden administration is working with the Federal Reserve (the Fed) right now to develop a replacement for paper and coin currency. The Fed plans to issue what is known as a “Central Bank Digital Currency” or CBDC, which some call “FedCoin.”

CBDC will effectively turn the government into a commercial bank — the bank to replace all banks, if you will. Once the government becomes your bank, it will control every purchase you make.

A CBDC gives governments the ability to erase bank accounts of political enemies, and control where people are allowed to shop and what they are allowed to buy.

A CBDC can even put an “expiration date” on funds, forcing people to spend money or the government simply takes it away. The Chinese Communist Party has already issued its CBDC, called the digital yuan, and uses it as part of its social credit score that regulates people at home and around the world.

Furthermore, when the government is your direct bank, it can withhold home loans, auto financing, and other fiscal instruments, not because of your credit, but because of your political inclinations or your poor social score for not supporting green initiatives and progressive ideals. If you want to buy a gas vehicle rather than an EV, you could be blocked. If you want to buy a handgun, your transaction could be halted.

CBDC allows the government to individually monitor and control your purchases — and even your contributions.

Some members of Congress are alarmed by this shocking attempt to rob Americans of their most basic privacy. Rep. Tom Emmers (R-MN) and Sen. Ted Cruz (R-TX) have filed HR 1122 and S 887 respectively, to stop this federal power grab. We are building momentum. The U.S. House just passed the CBDC Anti-Surveillance Act. We must keep up the pressure until we cross the finish line.

“As the Federal Reserve continues its study of central bank digital currencies, one thing has become clear — CBDCs pose a clear threat to Americans’ financial independence. Rather than following the lead of oppressive regimes like China and Russia, we should dramatically decrease the federal government’s involvement in personal finances and look to the free market to guide the way regarding innovation. That’s why I’m proud to support Congressman Emmer’s CBDC Anti-Surveillance State Act which prevents the issuance of a retail CBDC and ensures the Fed stays within its statutory bounds,” said the co-sponsor of a similar bill, Byron Donalds (FL-80).

Rep. Warren Davidson said, “A retail CBDC would essentially allow the government to mediate all transactions, which would mirror what we see in China. It’s vital to ensure this does not happen here.”

Sen. Cruz said, “The federal government has no authority to unilaterally establish a central bank currency. This bill goes a long way in making sure big government doesn’t attempt to centralize or control cryptocurrency.”

During the COVID shutdowns, we bore witness, and in some states, have been held hostage by government agencies that sought to dictate where and how we could eat, shop, and worship.

Remember when the City of Los Angeles threatened to cut the power and water off if a certain church would not forfeit its First Amendment right to worship? Under a CBDC, the government could simply freeze or erase any church’s bank accounts that did not comply.

Remember when New York City Mayor Michael Bloomberg tried to ban “Big Gulps,” sugary drinks, and large popcorn buckets? Under a CBDC, a person would not be allowed to spend money on such purchases.

The tracking is just as bad as the control. Currently, if the government wants to see what you have been spending your money on, a warrant is generally necessary.

But if the government already IS your bank, your bank ledger is right in front of them. No need to ask a judge for permission.

The Biden administration is already seeking this level of spying, as can be witnessed by Biden’s recent executive order requiring banks to report to the federal government any bank account that transacts just 600 dollars in an entire year.

The vaccine apps meant to trace, track, and control us didn’t fly with the American people. So now Joe Biden and his globalist masters want to use a CBDC to up the ante — by controlling every penny of our finances, and therefore, our lives. This is a serious threat to freedom.

Please also support our crucial policy work. As you know, Liberty Counsel Action never charges for our work. Few private citizens could be vigilant enough on their own to fight these issues, but when we all band together, we can help defeat these attacks against a government gone mad. We rely on YOU, the faithful Liberty Counsel Action supporter.

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Mat Staver, Chairman
Liberty Counsel Action


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Sources:

Muchai, Florence. “Chinese ministry uncovers fake Digital Yuan App – Here’s what you need to know.” Cryptopolitan, February 27, 2024. Cryptopolitan.com/chinese-ministry-finds-fake-digital-yuan-app/.

Sarkar, Arijit. “Private firms to join global central bank CBDC project.” Cointelegraph, June 5, 2024. Cointelegraph.com/news/private-firms-join-global-mbridge-cbdc-mvp.

“Sen. Cruz Introduces Legislation to Ban Central Bank Digital Currencies.” Office of U.S. Senator Ted Cruz of Texas, February 26, 2024. Cruz.senate.gov/newsroom/press-releases/sen-cruz-introduces-legislation-to-ban-central-bank-digital-currencies.

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