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IPFS News Link • Central Banks/Banking

The Rise & Risks of Central Bank Digital Currencies

• Corey's Digs

The best we can hope for, is for Congress to respond to the electorate's concerns about privacy."  However, signals by the Biden regime and the Federal Reserve indicate they intend to move forward on a CBDC, regardless of any approval from Congress, industry leaders or the public.  In fact, there are a growing number of research and pilot programs in various phases of development in America and around the world, despite public concerns of an impending digital currency enslavement system tied to a digital ID and social credit system.

The Biden Regime Presses Forward

On March 9, 2022, the Biden regime issued an Executive Order on 'Ensuring Responsible Development of Digital Assets,' which placed "the highest urgency on research and development efforts into the potential design and deployment options of a United States CBDC."  The EO commanded Attorney General Garland, Treasury Secretary Yellen, and Federal Reserve Chair Powell to determine if a legal path to bypass Congress is possible, stating, "within 180 days of the date of this order [by September 5, 2022], provide the President…an assessment of whether legislative changes would be necessary to issue a United States CBDC, should it be deemed appropriate and in the national interest." The EO further directed them to provide the President with a legislative proposal within 210 days, by October 5, 2022. 


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