Advertisement
Attention Freedom Loving Citizens!...
The Death of the Dollar
The Fed's Plans for a Digital Dollar Mean We’re Getting Rid of Cash and Entering a Chinese-Style Social Credit System
Currencies are being transformed.
According to Bloomberg, 85% of the world’s Central Banks are developing their own digital currencies.1
Roughly 90 central banks around the world are currently either in the process of implementing a central bank digital currency (CBDC) or they’re experimenting with it.2
And now, thanks to Biden’s Executive Order 14067, the dollar is going digital too.
The Roll Out of the Digital Dollar
The Biden administration released an executive order (EO) on March 9, 2022, for federal agencies to investigate digital currencies and to come up with plans on how to regulate them.3
This included blockchain based cryptocurrencies like bitcoin and ethereum.
However, it also included orders for the federal government and Federal Reserve to start preparations for a potential new Central Bank Digital Currency. In other words, a new U.S. currency in the form of a digital dollar.
Since then, things have escalated.
According to the New York Fed, in November 2022, several banks have begun a 12-week digital dollar pilot together with the Federal Reserve Bank of New York.4
Financial giants like Citigroup, HSBC Holdings, Mastercard and Wells Fargo are taking part. The banks involved will simulate issuing digital money from their clients’ funds to see how digital dollar tokens in a common database can make payments process faster.
They say a digital dollar will combat illegal activities, allow people who don’t have a bank account to participate in the financial system, and help the government distribute more aid to people.
However, is this really what they have planned?
Not if the digital yuan is anything to go by.
How the Digital Yuan Is Controlling 1.4 Billion People
Like in the U.S., China’s central bank – The People’s Bank of China, said the digital yuan would help combat money laundering, gambling and terror financing, as well as allow more efficient financial transactions.
However, the facts paint a different picture.
According to Orville Schell, a director at the Center on U.S.-China Relations at The Asia Society, their true intentions are to use it to “fortify China’s one-party state.”5
Schell says the digital yuan gives the Chinese government, “unprecedented new levels of control over China’s 1.4 billion citizens by allowing it to track its financial transactions.”
In 2014, China introduced a social credit system. This allows them to monitor their citizens’ behavior. If someone does something they deem unacceptable, they punish them.
Post something they don’t like on social media…
Subscribe to the wrong media organization…
Or simply annoy someone in power…
And your credit rating will take a hit.
You can get blacklisted.
You won’t be allowed to get a mortgage.
It jeopardizes your ability to get a job.
You can’t travel.
This is why several million people in China have been banned from buying plane tickets.
In 2014, an official Chinese government document stated the social credit system “is an important component part of the Socialist market economy system and the social governance system.”6
Police in China are creating huge databases of information on their citizens. Including their addresses, family relations, birth control methods and religious affiliations.
Schell warns in a digital economy your social score will also be assembled and ranked by, “aggregating police records, political files, financial data, medical records, travel movements, online activity, and other information held on individuals to create “trustworthiness scores” designed to rank each citizens dependability.”7
China Today is the West Tomorrow
If CBDCs are introduced in the West, the government would have the ability to implement the same social credit system as the Chinese Communist Party.
If you don’t think it would happen, just take a look at what Trudeau did to the truck drivers during the covid protests. Their bank accounts were frozen under his emergency orders.
The digital dollar would give the government complete control over your finances.
It will give them the ability to track your spending habits. All your transactions would be under government surveillance.
There will be no more financial freedom, privacy or anonymity.
You will leave a financial footprint with every purchase you make.
“… a Fed digital currency system would in theory allow the central banks to see what every user did with the currency.”
Central banker Jerome Powell8
People are becoming aware of the dangers. A 2021 survey by the European Central Bank showed the potential for central banks and governments to breach their financial privacy is people’s biggest concern about digital currencies.9
What’s worse, they can control how and when you spend your money.
How The Dollar Will Be Programmed for Control
Unlike cryptocurrencies like bitcoin and ethereum, the digital dollar will be centralized.
This allows the government to have the ability to program the dollar with certain rules and restrictions on how and when you spend them.
This was revealed in a report about the development of a CBDC published by the Federal Reserve in January 2022. The report mentioned what they called a “design choice” for the digital dollar. This included how “a central bank might limit the amount of CBDC an end user could hold.”10
The “design choices” mean the government has total control over citizens’ financial freedom and the economy. They say this is to mitigate “climate change and pollution” and promote “financial inclusion and equity.”
The government will program the digital dollar. This means they can switch your money on or off when they want.
This will allow them to track and record your transactions. So they’ll know everything you buy.
“There is a huge difference [between CBDC and cash]. For example, with cash we don’t know who’s using a 100 dollar bill today. We don’t know who’s using a 1,000 peso bill today. A key difference with the CBDC is the central bank will have absolute control under rules and regulations that will determine the use of that expression of central bank liability, and we will have the technology to enforce that.”
Agustin Carstens, General Manager of the Bank for International Settlements11
This will be one of the greatest expansions of federal power ever seen.
It’s the most treacherous act by a sitting U.S. president.
Never before has a democratic government been able to monitor and control what you spend your money on.
It allows legal government surveillance for all U.S. citizens. They’ll have control over your bank account and transactions. They can take away your power to do anything about it.
Make a comment on social media they don’t like and you’ll be punished.
If you say something they deem unacceptable, like the Canadian truckers, your account could be frozen with the click of a button.
You won’t be able to buy real meat, only fake meat.
You won’t be able to buy a gas car, only an electric one.
You won’t be able to buy a gun.
You won’t be able to donate to political candidates.
The digital dollar will turn America into a surveillance state like China or North Korea.
They’ll be able to program the currency to directly take taxes and other fees from your account.
What’s Going to Happen to the Dollar?
Things aren’t looking good for the dollar.
The equity and bond markets are stuck in brutal bear markets.
We’re in the midst of a financial war.
High consumer price inflation is at a 40-year high.
On top of this, we have a $30 trillion national debt, trillion dollar deficits, and unfunded liabilities running into the hundreds of trillions.
Now with a central bank digital currency, they can create digital dollars at the press of a button, meaning money will no longer mean anything.
What’s worse, it will be easier to implement negative interest rates because we could no longer store physical cash outside of the financial system.12
A government proposal has revealed plans to make citizens with $600 or more in their accounts to be subject to IRS scrutiny.13
The Democrats also want to begin high-earner access to IRAs. This includes an undefined new annual “reporting requirement” for employer defined contribution plans like 401(k)s with account balances of over $2.5 million.
Put simply, the digital dollar is being used to default the dollar.
It’s going to destroy your economic freedom, financial privacy and free speech.
A cashless society means an unfree society.
However, there are some simple, practical steps you can take to protect your wealth and freedom.
The Freedom Fighter Kit
See What Biden’s Plans Are… Protect Your Financial Freedom… and Fight Back with This FREE Precious Metals Educational Kit
This includes:
- How precious metals can protect your wealth and privacy.
- How to invest in Gold and Silver IRAs.
- Everything you need to know about the costs involved.
- And much more!
This FREE 28-page Gold IRA Guide shows you how to diversify $100,000+ IRAs/401(k)s using intel and tools that can help you hedge against inflation while also evading the social credit system.
This includes a guide with information on a unique IRS loophole that lets you move your IRA, 401(k), pension, TSP, or savings account into certain tax-advantaged investments that could protect you from Joe’s plans to track and control your finances.
You can move your money 100% tax- and penalty-free too.
However, you must act FAST!
Biden’s team are working round the clock to make their plans airtight.
Financial analysts believe the digital dollar could be rolled out in the next 12 months.
All the details are laid out for you in this FREE GUIDE to protecting your wealth and retirement savings and combat the social credit system.
Get those details now so you can safeguard your future.
Submit your information today, and we’ll rush a copy to you.
We’ll even cover all the shipping & handling charges.
Get Your Wealth and Freedom Protection Kit Now!
This includes:
- How precious metals can protect your wealth and privacy.
- How to invest in Gold and Silver IRAs.
- Everything you need to know about the costs involved.
- And much more!
Sources:
1 Charles Lane, Washington Post, “Joe Biden isn’t a socialist, but his nominees to regulate banks has pretty radical ideas about the Fed” (October 13, 2021, accessed 2/21/22).
2 https://www.nakedcapitalism.com/2022/03/the-world-quietly-took-another-step-toward-embracing-central-bank-digital-currencies.html
3 https://www.whitehouse.gov/briefing-room/presidential-actions/2022/03/09/executive-order-on-ensuring-responsible-development-of-digital-assets/
4 https://www.newyorkfed.org/newsevents/news/financial-services-and-infrastructure/2022/20221115
5 Jamie Redman, Bitcoin, “9 Trillion in Stimulus Injections: The Fed’s 2020 Pump Eclipses Two Centuries of USD Creation” (October 5, 2020, accessed 1/10/21).
6 Alan Rappeport, New York Times, “Mourning federal debt puts the U.S. at risk of a fiscal crisis, Congressional Budget Office warns.” (October 22, 2021, accessed 2/21/22)
7 Jamie Redman, Bitcoin, “9 Trillion in Stimulus Injections: The Fed’s 2020 Pump Eclipses Two Centuries of USD Creation” (October 5, 2020, accessed 1/10/21).
8 https://www.federalreserve.gov/publications/files/money-and-payments-20220120.pdf
10 http://www.youtube.com/watch?v=VYOEvurCVuk
11 David Lin, Kitco.com, “Inflation is now at 7%, the highest in 40 years, and will stay until 2024 – Steve Hanke” (January 13, 2022, accessed 2/23/22).
12 Reuters.com, “Fed debating if balance sheet should be regular tool, Daly says.” (February 8, 2019, accessed 2/21/22).
13 https://www.augustapreciousmetals.com/market-news/cash-purchase-gold/
Copyright 2023 AltRetirement
