The New York Federal Reserve (The Feds) has a “Doomsday Book” that has been held in secret ... until now. And now we know why. The book contains the NY Fed’s guiding principles and reveals an unelected, unaccountable globalist cabal that believes it need not be bound by the whims of Congress, nor by the law. Instead, the NY Fed believes it can justify any “emergency action” the board dreams up.

With the help of Joe Biden, the Fed is working to eradicate personal savings and control citizen spending via a Central Bank Digital Currency, or CBDC.

Three pieces of legislation stand in the globalist Fed’s way. Please, take a moment right now to fax Congress and demand they protect personal financial freedom by passing HR 1122, HR 3712, and S 887. — Mat

Emre Kuvvet, a professor of finance at Nova Southeastern University, recently managed to get his hands on a copy of the New York Federal Reserve’s “Doomsday Book,” and its contents are disturbing.

The book lays out the history of the NY Fed’s decision-making processes and justifications for action.

“Instead of adhering strictly to clear legislative boundaries to justify its actions during financial crises, the central bank appears to ground many of its decisions in the New York Fed’s belief in the Fed’s discretionary authority,” says Kuvvet. “It relies on precedent for many of its actions, without explicit congressional authorization in some instances.”

“This approach implies that establishing clear legislative boundaries for the Fed might be a futile endeavor because the central bank — or at least the legal team at its dominant member bank — apparently believes it can rely on precedent to justify virtually any emergency action,” Kuvvet concludes, (emphasis added).

“This finding is of prime concern when questions loom around the Federal Reserve’s authority to issue a CBDC,” says Nicholas Anthony, policy analyst at Cato Institute.

“Although some argue the Federal Reserve Act clearly prohibits individuals from holding accounts at the central bank, it shouldn’t be forgotten that the Fed based its CBDC discussion paper on an intermediated CBDC that would involve putting financial institutions in the middle of the process — effectively creating a legal gray area. Based on Mr. Kuvvet’s findings, Congress shouldn’t wait to establish clear and enforceable boundaries,” Anthony concludes.

“[N]ew monetary systems risk being swept in without any democratic oversight at all,” according to Financial Times analyst Izabella Kaminska. This is important because CBDCs have the power to radically change our entire economy, giving broad powers to unelected Federal Reserve central bankers. Whether by design or default, those broad powers are designed to control your money, and therefore, your freedom.

A 2021 report by Goldman Sachs notes that central banks “have designed their CBDCs to not pay interest.” Additionally, these central bankers are considering “setting a penalty on holdings above a certain threshold.”

The combination of these factors disincentivizes people from saving money, and further penalizes those who chose to build a nest egg even without interest earnings.

In addition to wiping out savings, CBDCs are also designed to wipe out privacy. The Goldman Sachs report notes that under the guise of preventing “illicit activity,” the central bankers have “decided against fully anonymous accounts” and/or have capped the amount of money one can handle anonymously.

To accomplish this so-called security against illicit activity, CBDC accounts will need to be tied to digital IDs, like the global Vaccine Passports I have been warning about for several years now.

The combination of these factors reveals the central bankers’ two aims — (1) keeping you poor (and therefore dependent upon government largesse), and (2) keeping you under the government’s centralized control.

The Communist Party of China has already forced surveillance-based money on their citizens, complete with balance caps and limits on how much people are allowed to spend overall, as well as in certain sectors.

But China isn’t alone. Other Western and “democratic” countries are rushing to enact similar levels of control on their citizens. The European Central Bank (ECB) for instance, is considering imposing balance limits that forbid people from saving more money than the ECB wants them to save.

Sweden is also considering balance caps but is taking a step further by proposing “negative interest rates” through which Swedish citizens will be CHARGED for having too much money in their savings account.

And the ECB also wants to share users’ spending data with “financial intelligence units” (think IRS + FBI on steroids).

Fed Chair Jerome Powell admitted in a May 4, 2022, press conference that in order to keep the economy on track, the Fed was seeking to “get wages down.”

One year later, it’s no longer enough for the Fed to keep your hourly pay and salary low. Now they want to prevent you from saving what money you can acquire!

Economist Friedrich Hayek noted that people are only truly free when they can freely store and enjoy the fruits of their labors. A government that seeks to limit those freedoms sets its citizens on a sure path to serfdom.

Throughout the COVID “crisis,” we saw firsthand how eager officials were to erase liberty. In America, pastors were arrested, churches were barricaded and forced closed, and churchgoers were put under house arrest.

In Canada, when the people tried to travel to their capitol to peacefully protest, the Canadian government shut down their bank accounts, as well as the bank accounts of any who dared support the “trucker’s convoy.”

Joe Biden does not have that power in America — YET. But he and his tyrannic cohorts WILL have these powers and more unless we compel Congress to stop Biden’s CBDC NOW, before they can enact their “doomsday” plans.

YOU can help stop this push toward serfdom by faxing Congress NOW. Demand our legislators protect American finances and freedom by passing HR 1122, HR 3712, and S 887.

Please also consider financially supporting our policy work. We are scheduling high-ranking meetings and presenting solutions every week on Capitol Hill.

But we can only keep winning with your support. You can DOUBLE YOUR IMPACT with our new 2024 Challenge Grant. Any recurring monthly donation can make a world of difference. Please, give generously today.

Finally, may God bless you and your family in this New Year!

Mat Staver, Chairman
Liberty Counsel Action

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Sources:

Anthony, Nicolas. “Digital Currency and the Fed’s ‘Doomsday Book.’” Wall Street Journal, December 14, 2023. Wsj.com/articles/fed-digital-currency-cbdc-federal-reserve-1cfa7d8c?page=1.

Kaminska, Izabella. “Why CBDCs Will Likely Be ID-Based.” Financial Times, May 5, 2021. Ft.com/content/88f47c48-97fe-4df3-854e-0d404a3a5f9a.

Kuvvet, Emre. “Sun Shines on Fed ‘Doomsday Book.’” Wall Street Journal, December 11, 2023. Wsj.com/articles/sun-shines-on-new-york-fed-doomsday-book-foia-central-banking-financial-crisis-13d41d51?cx_testId=3&cx_testVariant=cx_171&cx_artPos=1.

Norton, Ben. “U.S. Federal Reserve Says Its Goal Is ‘to Get Wages Down.’” MR Online, May 26, 2022. Mronline.org/2022/05/26/u-s-federal-reserve-says-its-goal-is-to-get-wages-down/.