The president of the EU admitted: “We are considering whether for very small amounts, anything that is around €300 [or] €400, we could have a mechanism where there is zero control, but that could be dangerous,” Lagarde said in this recorded prank call.

The European Union already declared that cash payments of 7,000 euros are illegal. And in France and Italy, cash payments of over 1,000 euros are banned.

Gatestone Institute writer J.B. Shurk notes that CBDCs allow the government to control the creation, distribution, and exchange of all currency. And when government seizes that much control, he warns, “whatever remains of free markets will disappear.”

“If governments and central banks maintain a digital monopoly over the only legalized forms of money, then they may redistribute wealth or penalize personal behavior without regard for individual rights or limits to their control,” Shurk says.

Join me now in demanding Congress PERMANENTLY BAN a CBDC in America.

Even with a few setbacks, these globalist masters are developing a new way to control your finances. This Fed-issued Central Bank Digital Currency (CBDC) puts the government right back in your bank account, able to spy on every single transaction you make, no matter how small. And even worse, the CBDC allows the government to control your spending, permitting or prohibiting certain purchases and draining your account whenever they please.

Think of it like food stamps that permit and forbid certain purchases. The CBDC could do the exact same thing only on a much broader scale, for everyone, and using your own money.

Central Bank Digital Currencies are designed for one singular purpose — ultimate control over law-abiding citizens’ purchases, actions, and movements.

Radicals want to know exactly how you are spending your money. And then be able to stop you from buying anything, if they don’t want you to have it! If they get this power, they could even set your money to “expire” by a certain date.

We are already seeing spending mandates like this in our government-run Flexible Spending Accounts, or FSAs. These employer-sponsored accounts allow workers to set aside pre-tax money for medical expenses. As an example, an employee in 2024 could contribute up to 3,200 dollars and a married couple could set aside a combined 6,400 dollars if each spouse had a separate employer-sponsored FSA. Yet under the federal “use-it-or-lose-it” rules, an employer could limit each employee’s rollover to just 1,280 dollars. A couple who contributed the maximum but failed to spend it could lose as much as 5,120 dollars — 80% of their own contributions in one year.

This level of control is exactly what we would be giving the federal government with all of our money under a CBDC. If we start down the path of government-controlled CBDCs it will be hard-to-impossible to win back our freedom from financial despots in D.C.

Remember back in October of 2021, Joe Biden unilaterally decided that the U.S. government should be allowed to see and spy on any bank account with more than 600 dollars in transactions in any given year. Only a massive outcry from citizens and Congress put a stop to Biden’s plans.

Join me now in demanding Congress PERMANENTLY BAN a CBDC in America.

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Sources:

Antoni, E. J. “The Scary Fed Idea to Turn Your Dollars into a Digital Power Grab.” The Heritage Foundation, March 3, 2023. Heritage.org/markets-and-finance/commentary/the-scary-fed-idea-turn-your-dollars-digital-power-grab.

“ECB’s Lagarde Gets Pranked, Reveals Digital Euro Will Have ‘Limited’ Control.” Yahoo Finance, April 7, 2023. Finance.yahoo.com/news/ecb-lagarde-gets-pranked-reveals-135218145.html.

“Emmer Leads Effort to Squash Financial Surveillance State Initiatives.” Congressman Tom Emmer, February 23, 2023. Emmer.house.gov/press-releases?ContentRecord_id=E2966313-1C6F-45CA-BF15-26A9CDE9338E.

“IRS: 2024 Flexible Spending Arrangement Contribution Limit Rises by $150.” Internal Revenue Service, December 8, 2023. Irs.gov/newsroom/irs-2024-flexible-spending-arrangement-contribution-limit-rises-by-150-dollars.

‌Kolinovsky, Sarah, and Trish Turner. “Biden Admin Backs down on Tracking Bank Accounts with over $600 Annual Transactions.” ABC News, October 19, 2021. Abcnews.go.com/Politics/biden-admin-backs-tracking-bank-accounts-600-annual/story?id=80665505/.

‌‌“Sen. Cruz Introduces Legislation to Prohibit the Fed from Establishing a Central Bank Digital Currency.” U.S. Senator Ted Cruz of Texas, March 21, 2023. Cruz.senate.gov/newsroom/press-releases/sen-cruz-introduces-legislation-to-prohibit-the-fed-from-establishing-a-central-bank-digital-currency.

Shurk, J. B. “Central Bank Digital Currencies: Funny Money That Will Destroy What Is Left of Private Property, Free Markets, and Personal Liberty.” Gatestone Institute, April 12, 2023. Gatestoneinstitute.org/19553/central-bank-digital-currencies.