The U.S. House Just Passed a Bill Banning the Federal Reserve From Issuing a CBDC
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You understand these recurring nightmares all of us have?
The one the place all of your family and friends are caught within a burning constructing, whereas nobody is heeding your calls that can assist you assist them?
No? Simply us. Bizarre.
Nicely, we really feel the same type of panic once we take into consideration Central Financial institution Digital Currencies (CBDCs).
In the event you’re unfamiliar with the thought of CBDCs, the fundamental gist is that this:
It’s a authorities owned/issued US greenback stablecoin.
Which, on the floor, sounds innocent — but it surely opens the door for some fairly dystopian ideas to weasel their means into our actuality.
The biggest and most regarding being:
A centralized programmable cash would permit the federal government to primarily ‘change your cash off’ (to not point out observe each cent you earn/spend while not having to serve your financial institution a warrant).
We’re not saying they would, simply that they might — and that’s scary sufficient by itself.
The excellent news is:
Congress is preventing it! In reality the U.S. Home simply handed a invoice that seeks to ban CBDCs all collectively.
Now, it nonetheless must make it via the Senate, which is a taller activity by comparability — but it surely’s value celebrating regardless.
Trigger it lastly looks like somebody (congress) is acknowledging the burning constructing that’s stuffed with our family and friends (CBDCs).
