“At its core, a CBDC is about further centralizing the supply of money in the government,” says Norbert Michel, vice president and director of the Cato Institute's Center for Monetary and Financial Alternatives. “It is not about competing with the private sector, or merely giving people another payment option.”
“It is about keeping up with technology only in the sense that governments are scared to death of losing control over the money supply to decentralized digital money,” Michel continued. “The problem, though, is that a CBDC centralizes the supply of money in a way autocratic governments have only dreamed about in the past.”
Central bankers around the world are already letting us know exactly how they intend to use these new centralized monetary powers ...
You will own only what they permit ...
In a recent speech, Klaas Knot, president of the Dutch central bank, admitted that “there will be a holding limit on digital euro [the EU’s CBDC] holdings.” In other words, the EU government will dictate how much digital money you will be allowed to have, hold, and use.
Knot also revealed that each citizen’s “personal data must be accessible to an intermediary such as a bank, who must collect and verify it.” This invasion of privacy is necessary, Knot says, to prevent “money laundering and financial terrorism.” The Dutch central banker might as well have used the tired old tyrant’s adage “you have nothing to fear if you’ve done nothing wrong.”
The general manager for the Bank of International Settlements, Augustín Carstens, revealed yet more, admitting “We don’t know who’s using a $100 bill today and we don’t know who’s using a 1,000-peso bill today.” The solution to that “problem,” according to Carstens, is a CBDC that will allow the central bank to “have absolute control on the rules and regulations that will determine the use of that [CBDC] ... and also we will have the technology to enforce that.”
In case that wasn’t a clear enough warning, International Monetary Fund Managing Director Bo Li recently admitted that a “CBDC can allow government agencies and private sector players to program … targeted policy functions. By programming a CBDC, money can be precisely targeted for what people can own and what [people can do].”
Absolute control is the end game ...
“A fully implemented CBDC gives the government complete control over the money going into and coming out of every person’s account,” says Michel of the Cato Institute. “It’s not difficult to see that this level of government control is incompatible with both economic and political freedom.”
On March 9, 2022, Joe Biden issued Executive Order 14067, which seeks to eliminate cryptocurrencies, while having the Federal Reserve issue a new programmable digital dollar, aka a CBDC.
Liberty Counsel is working with several members of Congress to stop Biden’s financial surveillance and control plans. HR 1122, and its companion bill S 887, seek to STOP Biden’s plans. We need YOUR help to get this bill passed!
Help us protect America from Biden’s planned Financial Surveillance State. Demand Congress VOTE YES on HR 1122 and S 887. | 
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