The Push For Digital Currency

Beware of the Government’s Push for a Digital Currency

John W. Whitehead

Because the government’s voracious appetite for money, power and control has grown out of control, its agents have devised other means of funding its excesses and adding to its largesse through taxes disguised as fines, taxes disguised as fees, and taxes disguised as tolls, tickets and penalties.

No matter how much money the government pulls in, it’s never enough, so the government has come up with a new plan to make it even easier for its agents to seize Americans’ bank accounts.

Make way for the digital dollar.

In an Executive Order issued on March 9, 2022, President Biden called for the federal government to consider establishing a “U.S. Central Bank Digital Currency(CBDC).”

Similar to cryptocurrencies such as Bitcoin, CBDCs would also be a form of digital money, but there the resemblance ends. 

If adopted, CBDCs would be issued by the Federal Reserve, the central banking system for the U.S. government. One CBDC digital dollar would equal the value of a physical dollar. And like the physical dollar, which ceased to be backed by gold more than 50 years ago, the CBDC would be considered a government-issued fiat currency that is backed by the strength and credit of the U.S. government. (Of course, that’s not saying much considering that much of the time, the U.S. government operates in the red.)

Although government agencies have six months to weigh in on the advantages and disadvantages of a centralized digital currency, it’s as good as a done deal.

For instance, three weeks before the Biden Administration made headlines with its support for a government-issued digital currency, the FBI and the Justice Department quietly moved ahead with plans for a cryptocurrency enforcement team (translation: digital money cops), a virtual asset exploitation unit tasked with investigating crypto crimes and seizing virtual assets, and a crypto czar to oversee it all.

Indeed, this shift to a digital currency is a global trend.

More than 100 other countries are considering introducing their own digital currencies.

Inevitably, a digital currency will become part of our economy and a central part of the government’s surveillance efforts.

Combine that with ESG (Environmental, Social and Governance) initiatives that are tantamount to social media credit scores for corporations, and you will find that we’re traveling the same road as China towards digital authoritarianism. As journalist Jon Brookin warns: “Digital currency issued by a central bank can be used as a tool for government surveillance of citizens and control over their financial transactions.”

As such, digital currency provides the government and its corporate partners with a mode of commerce that can easily be monitored, tracked, tabulated, mined for data, hacked, hijacked and confiscated when convenient.

This push for a digital currency dovetails with the government’s war on cash, which it has been subtly waging for some time now. Much like the war on drugs and the war on terror, this so-called “war on cash” has been sold to the public as a means of fighting terrorists, drug dealers, tax evaders and more recently, COVID-19 germs.

More...