This Will Fundamentally Change Banking

 

The Biden administration is DESPERATE to see and control every penny of your money.  The Central Bank Digital Currency (CBDC) is the best chance it has to take total control.  And don’t be fooled — this desire for control is not limited to the Biden administration. The “issuance of a CBDC,” said Rob Morgan, the American Bankers Association’s former vice president of emerging technologies, “would fundamentally rewire our banking and financial system by changing the relationship between citizens and the Federal Reserve.” This change connects the private citizen directly to the federal banking system … and gives the federal government direct control over every individual! “This rewiring of the system opens up risks to financial privacy, freedom, markets and even cybersecurity,” one banking article warns. The government is now suggesting an “intermediated CBDC” that is supposed to look like it puts banks in control but is actually designed to eliminate private banks.  This “intermediated CBDC” is designed to be unsustainable and cause private banking to collapse so that the government will have to step in and take control. However, there are three bills in Congress to stop the government from targeting American citizens. We can stop this serious threat to freedom if we speak up now.  There are bills in Congress that will prevent the weaponization of CBDCs.  Tell Congress to VOTE YES on HR 1122, HR 3712, and S 887 to protect Americans from Biden’s money grab! — Mat

Friend,

The Fed is trying to allay fears about CBDC by pitching a second option. The “intermediated CBDC model that the Federal Reserve would consider” will “need to strike an appropriate balance between safeguarding consumer privacy rights and affording the transparency necessary to deter criminal activity.” 

On the surface, this may sound good.

However, experts warn that an “intermediated CBDC” will devastate the banking industry. 

Because “if a consumer or businesses chose to hold a dollar of CBDC, that dollar is no longer available for bank funding,” according to the Bank Policy Institute, a nonpartisan public policy and advocacy group serving America's banks. 

It goes on to state, "if a consumer or businesses chose to hold a dollar of CBDC, that dollar is no longer available for bank funding … the liability for repayment must continue to rest solely and completely with the central bank. 

And that means it cannot at the same time also be a liability of a bank, used to fund loans.”

A government-controlled digital money system will put our government in control of every aspect of your life. 

We cannot let that happen.

Tell Congress to VOTE YES on HR 1122, HR 3712, and S 887 to protect Americans from Biden’s grab for our money!

The risk of damage to our financial system from CBDCs is so great that even a member of the Federal Reserve board of governors, Michelle Bowman, warned that there are “significant risks in adopting a CBDC that cannibalizes rather than complements the U.S. banking system.”

The last thing we want is to destroy our nation’s financial system in favor of total government control. 

Some groups have proposed a long list of restrictions to attempt to protect against this destruction. 

But an article rightly questions, “if such severe restrictions need to be put in place just to avoid destabilizing the financial system, is a CBDC something that should be adopted at all?” 

I think not!

There are many consequences, both intended and unintended, to a CBDC. 

Three bills pending in Congress will provide the safeguards we desperately need. 

Ask Congress to VOTE YES on HR 1122, HR 3712, and S 887!

The Feds controlling our money through a government-run bank is tantamount to the government becoming a single source for media. 

I have zero trust in the government controlling either industry!

Can you even imagine what past dictators would have done to be able to control every single purchase? 

Yet that is exactly the kind of authority a CBDC gives to the government.

Once ANY government-controlled, programmable digital currency is in place, all other money and financial transactions can be banned. 

Accounts can be frozen or seized, as Canada did to the truckers and their supporters. Specific purchases or contributions can be stopped.

And a CBDC can allow the government to adjust the value of your dollar, thus charging some more for utilities and others less based on “equity,” green policies, or whatever.

If the government becomes your bank through this federal digital currency, then the government won’t need a warrant. It will know everything about you.

The government will already have every dollar, every penny you own or spend. 

We cannot give the federal government this much control! 

We must STOP THIS TAKEOVER OF OUR FREEDOM.

WE CANNOT GIVE GOVERNMENT THIS LEVEL OF POWER AND CONTROL. But I need your help. Join us by supporting Liberty Counsel Action with a monthly donation or a one-time gift. DOUBLE the impact of your gift.

Mat Staver, Chairman
Liberty Counsel Action
 

P.S. Join our Challenge Grant to DOUBLE the impact of your donations! Select here. P.P.S. Send faxes to key leaders to demand protection against government control of your personal finances down to your last penny. You can also add your name to our petition.

Sources:

Anthony, Nicholas. “Introducing a CBDC Would Be a Catastrophe for the Banking System.” American Banker, June 7, 2023. Americanbanker.com/opinion/introducing-a-cbdc-would-be-a-catastrophe-for-the-banking-system.

Baer, Greg, and Bill Nelson. “A Costly Misunderstanding about CBDC.” Bank Policy Institute, December 17, 2021. Bpi.com/a-costly-misunderstanding-about-cbdc/.

“Money and Payments: The U.S. Dollar in the Age of Digital Transformation.” Federal Reserve, January 2022. Federalreserve.gov/publications/files/money-and-payments-20220120.pdf.

Liberty Counsel Action is a 501(c)(4) tax-exempt non-profit organization. Donations are not tax deductible.
 

Click here to view this message online.

+   +   +   +   +   +   +   +   +   +   +   +   +   +   +   +   +   +   +   +   +

©1986-present Liberty Counsel Action. Founded in 1986, Liberty Counsel Action is a law and policy education, training and advocacy organization. From offices in Washington, DC and Orlando, Florida, LCA advances religious freedom, the sanctity of human life, the family, responsible government, national security, and support for Israel at the federal, state, and local levels. Liberty Counsel Action is a 501(c)(4) tax-exempt nonprofit organization. Donations are not tax deductible.

Liberty Counsel Action
PO Box 540629
Orlando, FL 32854
407-875-1789

Forward To Friend