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Critics warn central bankers could censor private transactions under Biden's digital currency 'framework'

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by WorldTribune Staff, September 20, 2022

Last March, American entrepreneur and Bitcoin evangelist Anthony Pompliano warned that “central bank digital currencies (CBDC) will be one of the greatest violations of human rights in history.”

CBDC's "remove the privacy and decentralized nature of physical cash,” Pompliano explained. “It creates an environment where central banks have complete control over every aspect of a citizen’s financial life. These central bankers will be able to see what is in your bank account, who you transact with, what you purchase, and anything else they are curious about in your financial life. That full transparency with the state removes all elements of privacy, while also giving the institutions the ability to censor any and all transactions, regardless of whether they have a legitimate reason or not.”

What Pompliano warned about last year moved closer to reality on Friday, when Team Biden published its "comprehensive framework" on digital currency which would essentially allow for total surveillance by the U.S. government and eliminates any chance of financial privacy, an analysis said.

According to a White House press release, the agencies chosen to lead the ongoing working group for the research and possible development of a CBDC include the Federal Reserve, the National Economic Council, the National Security Council, the Office of Science and Technology Policy, and the Treasury Department.

The "framework" attacks decentralized cryptocurrencies while promoting a U.S. government-controlled programmable Central Bank Digital Currency (CBDC).

"CBDCs are digital currency issued directly from a nation-state’s central bank and serve as legal tender," the Sept. 19 Kanekoa's Newsletter on substack.com noted. "Critically, CBDCs are controlled by governments and therefore represent the polar opposite of the ideas — decentralization, open-source software, permissionless, peer-to-peer transactions — that made Bitcoin and other cryptocurrencies such a revolutionary technology."

CBDCs will be tied to user identities and Digital IDs.

"In fact, the entire coercion around implementing vaccine passports and Digital IDs looks to be a pre-planned stepping stone for the roll-out of central bank digital currencies and global social credit systems," the analysis said. "This top-down control dovetails with the green energy movement which is designed to produce energy scarcity within a digitally monitored smart grid connecting electricity, gas, and energy usage to citizens’ Digital IDs."

Catherine Austin Fitts, the former Assistant Secretary of the United States Department of Housing and Urban Development, said in a recent interview: “All of this clean energy is designed to produce an all electrical system which will allow them to build an all-digital transaction system that will give them digital control.”

Fitts continued: “Energy will be top-down and then you’re going to place sensors and chips on everything that moves in America. If you can move every human into a digital concentration camp, empty their bank account any time you want, and tell them what they can and cannot spend money on, you've got complete control."

Kanekoa noted that Team Biden's "framework" sets up the following possible scenarios:

• You spoke up against masking children at your child's school board meeting. Purchase denied.
• You exceeded your vehicle’s weekly miles and surpassed your carbon limit. Purchase denied.
• You posted private messages on Facebook questioning the integrity of the last election. Purchase denied.
• You did not take your latest Pfizer mRNA gene therapy shot. Purchase denied.
• You defied your lockdown protocol and traveled outside of your quarantine zone. Purchase denied.

Robert Kiyosaki, the author of the personal finance book, "Rich Dad, Poor Dad", had scathing criticism for the idea of introducing CBDCs.

Kiyosaki referred to the Executive Order 14067 signed by the Biden White House in early March that established the government’s position on creating a CBDC as the “most treasonous act in U.S. history.”

Kiyosaki went as far as to declare the establishment of CBDCs to be “communism in its purest form.”

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cbdc by N/A is licensed under Illustration N/A

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