Biden Bucks
The Biden administration released on Friday a report announcing an “interagency working group” for the development of a central bank digital currency (CBDC) that could facilitate unprecedented government control over individual finances.
The announcement, which marks a significant step toward a U.S. CBDC recently slammed by investment guru Robert Kiyosaki as “communism in its purest form,” was issued in response to President Joe Biden’s Executive Order 14067.
The March 9 executive order declared that his administration “places the highest urgency on research and development efforts into the potential design and deployment options of a United States CBDC,” and called for an analysis of its “potential implications.”
The order went so far as to praise a U.S. CBDC’s potential for interoperability with other countries’ CBDCs, which would open the door to a cohesive international digital financial system.
The new September 16 report hails the potential “significant benefits” of a U.S. CBDC, and signals the creation of an interagency group to study the effects of a CBDC and share its findings.
“To support the Federal Reserve’s efforts and to advance other work on a potential U.S. CBDC, the Treasury will lead an interagency working group to consider the potential implications of a U.S. CBDC, leverage cross-government technical expertise, and share information with partners,” the White House report shared.
The release further shared that meetings would be held regularly to “discuss the working group’s progress and share updates on CDBC and other payments innovations,” which would be attended by the “leadership of the Federal Reserve, the National Economic Council, the National Security Council, the Office of Science and Technology Policy, and the Treasury Department.”
Kiyosaki, author of “Rich Dad, Poor Dad,” called the May 9 executive order “the most treasonous act in U.S. history,” and is joined by Jim Rickards, an economist, investor, and former Central Intelligence Agency (CIA) official who has dubbed CBDC “Bitcoin’s Evil Cousin” because of the level of tyranny it would enable.
According to Rickards, a U.S. CBDC would replace the U.S. dollar as a “digital dollar,” which he calls “Biden Bucks,” because he wants Biden “to take full credit for what I consider to be crimes.”
“When Biden Bucks are rolled out, many experts – myself included – believe they will begin an era of total government control and surveillance,” Rickards stated. “This is not hyperbole. This would dramatically expand the power and influence of the federal government … essentially acting as a new type of ‘spyware.’”
“With Biden Bucks,” he continued, “the government will be able to force you to comply with its agenda. Because if you don’t, they could turn off your money. This won’t be like freezing a bank account, it will be so much easier.”
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