Since 1913, the Federal Reserve’s central bankers have wreaked havoc on the American economy as the nation seemingly moves from one recession to the next.
That’s certainly the case today, as the Fed is once again scrambling to “fix” an inflationary crisis and recession their moronic policies and overreach caused in the first place.
But that’s not going to stop the Federal Reserve from seizing more control over America’s economy, as they have terrifyingly announced the end of cash as we know it.
Controlling the American people is their only goal
In 1802, the third President of the United States, Thomas Jefferson, warned the American people of the dangers of a central bank, as giving a group of unelected central bankers the power to control America’s economy ran contrary to the protections of the Constitution.
“I sincerely believe that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale,” President Jefferson wrote.
Roughly a century later, Austrian economist Ludwig von Mises explained that “the idea of sound money . . . was devised as an instrument for the protection of civil liberties against despotic inroads on the part of governments. Ideologically it belongs in the same class with political constitutions and bills of rights.”
Much to the dismay of hard-working Americans today, though, radical left-wing politicians have never been able to get these very basic facts through their heads.
And as a result, they ignored Jefferson’s warning to establish the Federal Reserve in 1913, and have since gone to great lengths to take America off the gold standard and print endless amounts of money out of thin air, making the dollar the exact opposite of “sound money.”
But the unelected bureaucrats on the Federal Reserve board apparently have decided they’ve grown bored with having total control over the American economy, and now they want total control over every single American citizen.
Earlier this week, the Federal Reserve announced that after years of “development,” they will be launching an “instant payment system” called FedNow.
If you take the Federal Reserve at its word – which is essentially like taking Hannibal Lecter at his word that he won’t murder you while he’s eating your right leg – this is a revolutionary system that will transform every Americans lives.
Far more sinister than the Fed leads on
The Fed describes the FedNow system as a “flexible, neutral platform that supports a broad variety of instant payments,” which certainly makes it seem as though an untold sum of your tax dollars were spent over the course of years for the Fed to build PayPal only more than two decades after Elon Musk and Peter Thiel did just that.
But as is always the case when dealing with Big Government goons, the devil is in the details.
In fact, according to Federal Reserve Vice Chair Lael Brainard the entire goal of this scheme is to “transform the way everyday payments are made throughout the economy.”
And that’s exactly what FedNow will do, as this system is specifically designed to “significantly undercut” the current private financial institutions who issue debit cards to consumers and process transactions for small businesses owners.
“Among other examples, FedNow is set to eliminate merchants’ need to wait one to three days before payments are finished depositing, as well as the need for workers to wait days before receiving paychecks,” The Daily Wire reported. “Retailers currently pay an average interchange fee of $0.23 when consumers use debit cards, according to data from the Federal Reserve, which FedNow hopes to significantly undercut.”
Which does beg the question of why the Federal Reserve is looking to not only compete with private financial institutions, but put them out of business?
It’s rather simple, actually.
You see, most Americans aren’t aware that everything the Fed is selling as the “revolutionary” FedNow system is already available in the private sector.
On top of that, by not only controlling the entire economy, but also controlling the system through which every transaction in America flows, the Federal Reserve would be given unparalleled power.
The Fed, and the Democrat-controlled federal government as a whole, are already gravely concerned about the rise of decentralized finance options, like Bitcoin, and the freedom it allows the American people – not to mention the fact that Bitcoin has proven to be a far more sound currency than the dollar.
That’s why, on top of FedNow, the Federal Reserve is also in the process of launching their own “central bank digital currency.”
They want to corner the entire nationwide finance market to ensure they have total control over every penny in circulation at all times.
After all, how else are they going to be able to pay off the more than $30 trillion in debt the federal government owes when China and others come to collect if they can’t seize every American’s life savings?
If that sounds a little far-fetched to you, just know the legal precedent already exists thanks to former left-wing President Franklin D. Roosevelt’s Executive Order 6102, which required all Americans to immediately fork over every bit of gold they own to the federal government during the Great Depression.
But hey, that could never happen these days, right?
US Political Daily will keep you up-to-date on any developments to this ongoing story.