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Friend,
The Biden administration is working with the Federal Reserve (the Fed) to develop a replacement for paper and coin currency. The Fed plans to issue what is known as a “Central Bank Digital Currency” or CBDC, which some call “FedCoin.”
CBDC will effectively turn the government into a commercial bank — the bank to replace all banks, if you will.
Once the government becomes your bank, it will control every purchase you make.
Protect YOUR financial privacy! Tell Congress to VOTE YES on HR 1122 & S 887!
A CBDC gives governments the ability to erase bank accounts of political enemies, and control where people are allowed to shop and what they are allowed to buy.
A CBDC can even put an “expiration date” on funds, forcing people to spend money or the government simply takes it away. The Chinese Communist Party (CCP) has already issued its CBDC, called the digital yuan, and uses it as part of its social credit score that regulates people at home and around the world.
Furthermore, when the government is your direct bank, it can withhold home loans, auto financing, and other fiscal instruments, not because of your credit, but because of your political inclinations or your poor social score for not supporting green initiatives and progressive ideals.
If you want to buy a gas vehicle rather than an EV, you could be blocked. If you want to buy a handgun, your transaction could be halted.
CBDC allows the government to individually monitor and control your purchases — and even your contributions.
Some members of Congress are alarmed by this shocking attempt to rob Americans of their most basic privacy.
Rep. Tom Emmers (R-MN) and Sen. Ted Cruz (R-TX) have filed HR 1122 and S 887 respectively, to stop this federal power grab.
No government control of our finances!
“As the Federal Reserve continues its study of central bank digital currencies, one thing has become clear — CBDCs pose a clear threat to Americans’ financial independence.
Rather than following the lead of oppressive regimes like China and Russia, we should dramatically decrease the federal government’s involvement in personal finances and look to the free market to guide the way regarding innovation.
That’s why I’m proud to support Congressman Emmer’s CBDC Anti-Surveillance State Act which prevents the issuance of a retail CBDC and ensures the Fed stays within its statutory bounds,” said HR 1122 co-sponsor Byron Donalds (FL-80).
Rep. Warren said, “A retail CBDC would essentially allow the government to mediate all transactions, which would mirror what we see in China.
It’s vital to ensure this does not happen here.”
Sen. Cruz said, “The federal government has no authority to unilaterally establish a central bank currency.
This bill goes a long way in making sure big government doesn’t attempt to centralize or control cryptocurrency.”
During the COVID shutdowns, we bore witness, and in some states, been held hostage by government agencies that sought to dictate where and how we could eat, shop, and worship.
Remember when the City of Los Angeles threatened to cut the power and water off if a certain church would not forfeit its First Amendment right to worship?
Under a CBDC, the government could simply freeze or erase the church’s bank accounts.
Protect YOUR financial privacy! Tell Congress to VOTE YES on HR 1122 & S 887!
Remember when New York City Mayor Michael Bloomberg tried to ban “Big Gulps,” sugary drinks, and large popcorn buckets? Under a CBDC, a person would not be allowed to spend money on such purchases.
Just as bad as the control is the tracking.
Currently, if the government wants to see what you have been spending your money on, a warrant is generally necessary.
But if the government IS your bank, your bank ledger is already right in front of them.
The Biden administration is already seeking this level of spying, as can be witnessed by Biden’s recent executive order requiring banks to report any transaction over 600 dollars to the federal government.
The vaccine apps meant to trace, track, and control us didn’t fly with the American people.
So now Joe Biden and his globalist masters are using the FedCoin CBDC to up the ante — by controlling every penny of our finances, and therefore our lives.
This is a serious threat to freedom.
Join me now in demanding Congress VOTE YES on HR 1122 and S 887!
Please also consider helping fund our crucial legal work. As you know, Liberty Counsel never charges our clients. Few could afford to defend their rights against a government gone mad. Instead, they rely on YOU, the faithful Liberty Counsel supporter.
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Mat Staver
Founder and Chairman
Liberty Counsel
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Sources:
Antoni, E. J. “The Scary Fed Idea to Turn Your Dollars into a Digital Power Grab.” The Heritage Foundation, March 3, 2023. Heritage.org/markets-and-finance/commentary/the-scary-fed-idea-turn-your-dollars-digital-power-grab.
“Emmer Leads Effort to Squash Financial Surveillance State Initiatives.” Congressman Tom Emmer, February 23, 2023. Emmer.house.gov/press-releases?ContentRecord_id=E2966313-1C6F-45CA-BF15-26A9CDE9338E.
“Sen. Cruz Introduces Legislation to Prohibit the Fed from Establishing a Central Bank Digital Currency.” U.S. Senator Ted Cruz of Texas, March 21, 2023. Cruz.senate.gov/newsroom/press-releases/sen-cruz-introduces-legislation-to-prohibit-the-fed-from-establishing-a-central-bank-digital-currency.
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