Tag Archives: CBDC

The reality of CBDCs could be here very soon and right now there’s no real resistance

High-Tech

Important Takeaways:

  • American Totalitarian “Crypto Dollar” May Come Before the Election
  • Central Bank Digital Currencies (CBDCs) threaten to replace the cash we use with programmable, trackable, and censorable tokens controlled by governments. Your financial choices could be suppressed, and privacy eliminated. Based on what I’ve learned and experienced directly, this could happen before the 2024 election. The best way to stop it is through direct action, not through politics.
  • This is why I believe a CBDC might be rolled out in the United States before the 2024 Presidential election.
    • 1/ President Biden has Authorized the Exploration of a CBDC, and There Isn’t any Real Resistance in Congress.
    • US Senator Ted Cruz (R-TX) has been leading the battle against CBDCs in the United States Senate. In 2023, he introduced a bill to prohibit the Federal Reserve from issuing a CBDC. Alarmingly, Cruz informed me that the bill is dead in the water and that the votes aren’t there in the US Senate to block a CBDC. He also expressed concern that the Federal Reserve might attempt to act unilaterally and bypass Congress by introducing a CBDC.
    • He further suggested that if a CBDC is not introduced this term, it is very possible that Senator Elizabeth Warren (D-MA) could become the Chair of the Senate Finance Committee, which would oversee the push for a CBDC. Warren has recently expressed her enthusiastic support for and advocacy for CBDCs.
    • 2/ The Technology for a US CBDC has Already Been Developed and Could be Deployed Quickly.
    • The exploration of Central Bank Digital Currencies (CBDCs) through projects like Project Hamilton, Project Cedar, and the Regulated Liability Network (RLN) raises significant concerns over privacy, autonomy, and the consolidation of power within the hands of a few centralized entities. These pilots, while technically impressive, venture into dangerous territory, potentially undermining individual freedoms and enabling unprecedented levels of surveillance and control by governments and globalist organizations.
    • 3/ Most Americans are Unaware of What CBDCs are and Could be Easily Manipulated in an Emergency.
    • The CBDC issue is flying under the radar intentionally, and will likely not receive mainstream attention until after an emergency so that people will make a fight-or-flight decision out of fear.
    • 4/ In Recent History, Emergencies Have Driven Major Legislation That Strips Us of Our Rights.
    • Winston Churchill stated, “Never let a good crisis go to waste” and the US Congress and Senate have not missed this opportunity to use an emergency to strip US citizens of their freedoms.
    • In fact, there are some in Congress today, such as Mitch McConnell, Chuck Schumer, and Nancy Pelosi, whose eagerness to pass monumental bills under the guise of urgency spans across various administrations and crises. All three, along with many others, voted for the Patriot Act, TARP, and the CARES Act.
    • The Patriot Act, rushed into law just 45 days post-9/11, expanded the surveillance state to Orwellian proportions, making a mockery of privacy and due process.
    • TARP, a knee-jerk reaction to the financial meltdown of 2008, saw billions of taxpayer dollars funneled into the coffers of the very institutions whose greed-fueled incompetence necessitated the bailout, all within 18 days.
    • The CARES Act, enacted in a 16-day frenzy as Covid-19 gripped the nation, not only crushed small businesses to the benefit of large, multinational corporations but also opened floodgates for potential misuse of funds and expanded the surveillance state, all under the convenient veil of emergency.
  • Following this trend, we could see a CBDC passed in under two weeks.

Read the original article by clicking here.

Boston Fed’s first look at digital U.S. dollar nearly done, official says

By Jonnelle Marte

(Reuters) – The first phase of a multi-year research project the Boston Federal Reserve is doing with the Massachusetts Institute of Technology on the technology that could be used for a digital dollar is nearly done and could be released over the next month or so, a Boston Fed official said on Wednesday.

The research, dubbed “Project Hamilton,” will look at the technical challenges that need to be addressed when building a central bank digital currency, or CBDC and is separate from a discussion paper the Fed board is expected to release soon examining the policy questions surrounding a digital dollar. Both papers were initially due to be released over the summer.

The initial findings from the Boston Fed research will include open-sourced code that could serve as a potential model for a U.S. CBDC and will also focus on the system’s ability to handle a high volume of transactions, said Jim Cunha, a senior vice president with the Boston Fed, during a virtual panel focused on payments.

(Reporting by Jonnelle Marte; Editing by Chizu Nomiyama)