President Biden’s White House has launched several dangerous executive orders in his short time in office.
Many Americans believe their privacy and personal information, including health, demographic, tax, and financial data is less safe now than ever before.
But Joe Biden and the Federal Reserve may strip away Americans’ privacy for good with this order.
Whenever the White House comes in with a new plan that will “boost the U.S. economy,” but with the forced aid of another executive order, it’s time to pay attention.
In this case, Americans’ financial privacy is on the chopping block.
Digital transactions already play a role in the private sector
It is easy to see that the future of currency is digital, not cash.
Many people already do digital transactions through plastic cards and phone apps.
Platforms like Google Pay, Apple Pay, and PayPal are well known.
And personal information is typically required for this convenience.
We sacrifice privacy for that convenience.
But it is a choice.
And corporate money and a digital central bank currency are not one in the same.
Who is behind the wheel of a post-cash society?
Earlier in 2022, President Biden signed Executive Order #14067 to promote research and development behind a central bank digital currency.
This “digital dollar” alternative to physical cash would be managed by the Federal Reserve and the Treasury Department.
This would be the same Federal Reserve that has tried to combat inflation by making things less affordable for Americans.
This would also be the same Treasury Department that has watched the highest surge in inflation in over 40 years.
But either way, government departments, and centralized banking, would be more intimately involved in your personal transactions.
Even if they abuse their power.
Another piece of American economic and financial activity is eroding
Physical cash cannot be tracked at the same level compared to digital transactions.
These digital transactions keep digital receipts and records.
Just as the Federal Reserve using the printing press to print more money, the digital dollars would be flowing in just as fast.
Except, now there is even less accountability when it comes to your financial rights.
And of course, there are concerns about surveillance.
And Rep. Andy Barr (R-KY) said it best when he warned, “The prospect of government surveillance of Americans’ individual financial transactions through a CBDC and Fed accounts raises serious privacy concerns, not to mention concerns about government control and politicization of loans, online payments, credit scores, tax compliance, federal contracts, monetary policy and the like.”
Giving Big Gov a free pass to look at every dollar spent
The fun part about cryptocurrencies is that they are decentralized by nature.
Once they launch, a group cannot control it.
That is not the case with central bank digital dollars.
In fact, it is the complete opposite.
The digital currency would be trackable, traceable, and controllable.
The Federal Reserve could just create more digital dollars whenever they want to manipulate the market further.
Or, they could program the currency to support their special interest groups, further picking winners and losers in the supposedly free market.
So, the Federal Reserve, the Treasury Department, and the Biden White House just found another way to control our behaviors and collect our personal financial data.
Proponents will claim they want the same level of privacy in central bank digital dollars as a physical paper dollar.
But you cannot have it both ways.
US Political Daily will keep you up-to-date on any developments to this ongoing story.
