(SNews) – Republicans are moving to block Democrat President Joe Biden and his administration from rolling out a “digital dollar” to replace physical cash across America.
The Biden admin has been working on implementing a Central Bank Digital Currency (CBDC).
The centralized digital currencies are designed to replace traditional cash but are engineered to have in-built control mechanisms.
The plan has been heavily pushed by unelected globalist organizations, including the World Economic Forum (WEF), the United Nations (UN), and the International Monetary Fund (IMF).
A key part of the CBDC agenda is to create so-called “cashless societies” that would governments and bureaucratic agencies greater control over the general public.
As architects of the plan have gloated, CBDCs allow for individuals’ spending to be tracked, monitored, and controlled.
Those whose spending habits indicate that they have a large “carbon footprint,” for example, could be punished.
In a more extreme example, those found to engage in “hate speech,” i.e. “misgendering” someone on social media, could have their funds restricted, denying their ability to buy food in their “cashless society.”
As one WEF speaker recently boasted, CBDCs could be used to control what people can buy by placing blocks on “less desirable items” such as “ammunition” and guns.
Led by House Majority Whip Tom Emmer (R-MN), the Central Bank Digital Currency Anti-Surveillance State Act has resurfaced.
The bill seeks to stop the Federal Reserve’s exploration of a digital version of the dollar.
As Slay News reported, in March, Biden ordered Fed Chair Jerome Powell to advance plans for a CBDC, a move that could significantly influence monetary policies.
The increasing popularity of CBDCs worldwide can not be ignored.
130 countries, making up 98% of the global economy, have been conducting explorations of their own.
11 of those nations, including China, have already fully transitioned into CBDC use, according to findings from the Atlantic Council’s GeoEconomics Center.
Despite the grouping of cryptocurrencies and CBDCs under the category of digital assets, they produce a strong sense of discord among crypto enthusiasts and privacy activists.
Republicans like Emmer put forth the argument that CBDCs would only serve to intensify surveillance activities by the state.
Increased surveillance is a key reason why China is leading the parade of countries implementing CBDCs.
Emmer’s updated bill primarily seeks to prohibit “intermediated CBDCs” – CBDCs issued by the Fed but managed by financial intermediaries such as retail banks.
The strategy of using intermediated CBDCs is what China employs for its digital yuan.
“The administration has made it clear: President Biden is willing to compromise the American people’s right to financial privacy for a surveillance-style CBDC,” Emmer said.
“That’s why I’m reintroducing my landmark legislation to put a check on unelected bureaucrats and ensure the United States’ digital currency policy upholds our values of privacy, individual sovereignty, and free-market competitiveness.
“If not designed to be open, permissionless, and private – emulating cash – a government-issued CBDC is nothing more than a CCP-style surveillance tool that would be used to undermine the American way of life.”