The following content is sponsored by Monetary Gold, the official gold sponsor of Breitbart News.
Earlier this year, U.S. House of Representatives Majority Whip Tom Emmer introduced the CBDC Anti-Surveillance Act in order to suspend President Joe Biden’s rapid rollout of a central bank digital currency (CBDC) dubbed Fedcoin.
The concept of a U.S. digital dollar is by no means new and has been in development for over 10 years. So, why is Biden injecting Fedcoin into the U.S. financial system now? Why has the Federal Reserve obscured a decade-long operation of research and development? The timing seems nefarious and not coincidental: The hasty rollout deliberately offers Americans little chance to react and invest in physical assets in order to protect their savings.
Fedcoin is an all-powerful surveillance tool that will be regulated under the purview of a single government entity: the Federal Reserve.
The monopolized nature of CBDC is a stark departure from cryptocurrency, which is decentralized, anonymous, and secure and leaves control in the hands of its users. In contrast, digital currency issued by the Central Bank will allow the Federal Reserve to exercise complete financial control over its users. Through Fedcoin, all financial activity—from purchases, to withdrawals, to transfers—will be logged on the permanent record-keeping system called the “blockchain.”
Biden peddles Fedcoin’s surveillance powers as a way to “deter criminal activity.” More accurately, however, this form of spying can also control the rights of its citizens—which eerily mirrors what we see in China. The government will have the jurisdiction to block any purchase arbitrarily regarded as “illegal.” Think high-risk investments, wiring money abroad, or even paying a worker to mow the lawn. With the Democrats in power, many conservatives fear surveillance will target the purchase of guns and ammunition. In other words, the consequences of CBDC may extend as far as America’s access to home security and personal defense.
What’s worse: This close monetary scrutiny could lead to the possibility of a blacklist of American citizens—protest organizers, political critics, whomever the government deems “dissident”—and a lack of access to their digital wallets. This paints a bleak future of coercion, where governing bodies can effectively strong-arm individuals and businesses by blocking their money supply. The current administration has not obscured their intent to closely monitor the private financial activity of Americans.
Sound familiar?
The Chinese Communist Party forcefully integrated the digital yuan into the economy to impose control over its people, and the United States is following suit by intensifying government involvement in our bank accounts. China is at the forefront of financial authoritarianism, and Joe Biden’s implementation of CBDC could be a push to mimic China.
In order to strong-arm the public into using the digital yuan, the Chinese government has banned the use of other decentralized cryptocurrencies and appears to be making moves to phase out paper currency. Some economists fear that the same could happen in the United States, which would effectively force the public to resort to CBDC and submit to full traceability by the Central Bank.
Fedcoin bodes grim for America’s future as a free society. The Central Bank’s all-seeing eye strips Americans of economic freedom marked by privacy and choice.
There is hope.
Gold will soon be the only fully anonymous and private means to conduct financial transactions. In addition to complete privacy, gold offers immunity to market crashes and inflation of the U.S. dollar. It is impossible to predict the full scope of Fedcoin’s consequences, but one thing remains true: Gold is here to stay.
Given the Democratic agenda to surveil America’s personal finances, the rollout of Fedcoin is inevitable. The CBDC Anti-Surveillance Act, however, buys smart investors some time to protect their money. The best time to buy gold is now. The transition to Fedcoin will insight a frenzied rush for gold by citizens wanting to reclaim their privacy and power over their money.
Shield your retirement from unconstitutional government spying. Click here to receive our FREE guide, Fedcoin: A Privacy Threat. Learn more about the potential dangers of Fedcoin, including hyperinflation, negative interest rates, expiration dates on money—and more. Or click here to watch a short video on how gold can protect you from cyberthieves and the “Everything Bubble Crash.”
Investing in precious metals through Monetary Gold is a simple process, and you may qualify for up to $5,000 of free gold and silver. Monetary Gold is the #1 Gold IRA Company in the United States with over 100 years of experience in the industry. As a direct dealer of gold, Monetary Gold allows buyers to skip the high markups of third-party precious metal dealers. Monetary Gold is the only Gold IRA Company that offers a free registered and insured pickup when you want to sell, and there are no fees or commissions to liquidate.
Breitbart News endorses Monetary Gold as the most reputable gold investment company for retirees. Monetary Gold serves as the Official Gold Sponsor of Breitbart News.
Visit Monetary Gold’s website to get your FREE Monetary Gold financial protection guide today.
COMMENTS
Please let us know if you're having issues with commenting.