We’ve known this all along, but now the EU Central Bank president has admitted in a recorded prank phone call that Central Bank Digital Currencies (CBDC) are designed to control us. Joe Biden is planning to unleash an authoritarian dictate upon every American in the coming months.

Two bills in the House and Senate stand in his way. We MUST make sure these bills pass or Joe Biden will take Orwellian control of your finances that will effectively be a line-item veto on your spending.

Please, take a moment to make your voice heard now, then read on for the details of this shocking plan to control Americans. Tell Congress to VOTE YES on HR 1122 and S 887 to protect Americans from Biden’s CCP-like FedCoin! — Mat

Joe Biden wants to know exactly how you are spending your money. And he wants to be able to stop you from buying anything if he doesn’t want you to have it! If he gets this power, he could even set your money to “expire” by a certain date.

We are already seeing this with Flexible Spending Arrangements (FSAs), a pre-tax “savings” account for medical expenses. For 2024, the government is allowing couples to save up to 6,400 dollars. BUT if they don’t spend it during the year 2024, they lose up to 90% of the cash they put in! They can only roll over 640 dollars into 2025.

This level of control is exactly what we would be giving the federal government for now (and quickly a world dictator out of Geneva) if we start down the path of government-controlled CBDCs.

As you may recall, in October of 2021, Joe Biden unilaterally decided that the U.S. government should be allowed to spy on any bank account that transacts more than 600 dollars in any given year. Thankfully, a massive outcry from citizens and Congress put a stop to Biden’s plans.

But Biden’s globalist masters have developed a new way to control your finances. Biden’s Fed-issued Central Bank Digital Currency (CBDC) puts the government right back in your bank account, able to spy on every single transaction you make, no matter how small. And even worse, the CBDC allows the government to control your spending, permitting or prohibiting certain purchases and draining your account whenever they please.

Think of it like food stamps that permit and forbid certain purchases. The CBDC could do the exact same thing only on a much broader scale for everyone. Central Bank Digital Currencies (CBDC) are designed for one singular purpose — ultimate control over law-abiding citizens’ purchases, actions, and movements.

European Union Central Bank President Christine Lagarde accidentally admitted as much in a phone call that was recorded.

On the call recorded by pranksters who were pretending to be Ukrainian President Volodymyr Zelensky, Lagarde let down her guard and admitted that the EU’s CBDC would monitor and control purchases and payments as low as 300 euros. In fact, the central government bank’s failure to monitor even small transactions would be “dangerous” according to Lagarde.

“We are considering whether for very small amounts, anything that is around €300 [or] €400, we could have a mechanism where there is zero control, but that could be dangerous,” Lagarde said in the recorded call.

In May of this year, the European Union declared that cash payments of 7,000 euros are illegal. And in France and Italy, cash payments of over 1,000 euros are prohibited.

“If governments and central banks control the creation, distribution, and exchange of virtual money, whatever remains of free markets will disappear,” says Gatestone Institute writer J.B. Shurk.

Shurk notes that CBDCs allow the government to control the creation, distribution, and exchange of all currency, which is the death knell of free markets and private property rights.

“If governments and central banks maintain a digital monopoly over the only legalized forms of money, then they may redistribute wealth or penalize personal behavior without regard for individual rights or limits to their control,” Shurk says.

These CBDC practices are already well underway in China, which uses its digital yuan CBDC to control its citizens’ every move. The Chinese government regularly cuts off the funds of people who dare complain about the communist state’s failures, while it rewards well-behaved members of the party.

Imagine if the federal government could monitor and control your money. Using the CBDC, the government could:

• Block or limit purchases.

• Block contributions to certain nonprofit organizations.

• Incentivize certain purchases.

• Place a time limit on your purchases.

• Change the value of money based on race, religion, or politics.

• And so much more.

We can expect Biden’s Fed to try to goad us into their new central banking scheme by declaring it to be an “equity” and race issue, as well as helping fight “climate change.” But in reality, the only goal is to spy on your every move and to exert control over YOUR finances.

Please consider helping fund our crucial policy work on Capitol Hill. As you know, Liberty Counsel Action never charges for our work, but we rely 100% on the donations of our clients.

This year we are behind in our donations. Your gift today can make huge differences in our effectiveness this next year.

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Liberty Counsel Action

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Sources:

Antoni, E. J. “The Scary Fed Idea to Turn Your Dollars into a Digital Power Grab.” The Heritage Foundation, March 3, 2023. Heritage.org/markets-and-finance/commentary/the-scary-fed-idea-turn-your-dollars-digital-power-grab.

“ECB’s Lagarde Gets Pranked, Reveals Digital Euro Will Have ‘Limited’ Control.” Yahoo Finance, April 7, 2023. Finance.yahoo.com/news/ecb-lagarde-gets-pranked-reveals-135218145.html.

“Emmer Leads Effort to Squash Financial Surveillance State Initiatives.” Congressman Tom Emmer, February 23, 2023. Emmer.house.gov/press-releases?ContentRecord_id=E2966313-1C6F-45CA-BF15-26A9CDE9338E.

“IRS: 2024 Flexible Spending Arrangement Contribution Limit Rises by $150.” Internal Revenue Service, December 8, 2023. Irs.gov/newsroom/irs-2024-flexible-spending-arrangement-contribution-limit-rises-by-150-dollars.

‌Kolinovsky, Sarah, and Trish Turner. “Biden Admin Backs down on Tracking Bank Accounts with over $600 Annual Transactions.” ABC News, October 19, 2021. Abcnews.go.com/Politics/biden-admin-backs-tracking-bank-accounts-600-annual/story?id=80665505/.

‌‌“Sen. Cruz Introduces Legislation to Prohibit the Fed from Establishing a Central Bank Digital Currency.” U.S. Senator Ted Cruz of Texas, March 21, 2023. Cruz.senate.gov/newsroom/press-releases/sen-cruz-introduces-legislation-to-prohibit-the-fed-from-establishing-a-central-bank-digital-currency.

Shurk, J. B. “Central Bank Digital Currencies: Funny Money That Will Destroy What Is Left of Private Property, Free Markets, and Personal Liberty.” Gatestone Institute, April 12, 2023. Gatestoneinstitute.org/19553/central-bank-digital-currencies.