Cashless Society: Fed Pushing Digital Currency

by Kit Daniels

Francesco Abbruzzino, The Uncensored Report, LLC

 

The Federal Reserve is pushing a Central Bank Digital Currency which would give the government the unprecedented ability to control a person’s life.

With the CBDC, the government would effectively have complete control over an individual by deciding how much a person can spend (banks already have daily limits), by forcing a tax on all private transactions, and by even theoretically penalizing people who save money – thus ensuring a permanently poor underclass.

“It may seem that the purpose of a CBDC is to facilitate transactions and enhance economic activity, but CBDCs are mainly about more government control over individuals,” wrote André Marques of the Mises Insitute. “If a CBDC were implemented, the central bank would have access to all transactions in addition to being capable of freezing accounts.”

“The end of cash would mean less privacy for individuals and would allow central banks to maintain a monetary policy of negative interest rates with greater ease (since individuals would be unable to withdraw money from commercial banks to avoid losses).”

A cashless society would allow governments to also adopt a Chinese-style ‘social credit score’ in which people are penalized financially for engaging in political “wrongthink.”

People could also be prohibited from using CBDCs for certain purchases, such as guns and ammo or donations to non-establishment political candidates.

“CBDCs allow authorities to freeze the funds not only of terrorists and evil-doers, but dissidents, thought criminals and scapegoated classes of people,” wrote analyst Charles Eisenstein. “…For CBDCs to fit into social engineers’ paradise of total control, they must accompany the elimination of cash.”

“This whole program depends on unconscious assumptions: that everything important can be measured, that everything real can be quantified, that every causal principle can be known.”

“The program’s operators seldom consider what—and who—gets left out of the metrics.”