Last week GOP Majority Whip Tom Emmer (R-MN) posted a picture on X of an itinerary of major priorities the Federal Reserve has, of which included the creation of a CBDC, which was presented last week during a hearing.
Decrypt noted in a report: ‘Emmer is one of the loudest voices in Congress to oppose a U.S. CBDC, repeatedly introducing legislation to ban their issuance entirely. Like many of his party members, including Sen. Ted Cruz (R-TX) and Florida Governor Ron DeSantis, he argues that CBDCs are China-style tools of financial surveillance and control.’
SEE: US House Financial Services Committee Forwards Two Bills To Prevent Creation Of CBDC
During a Senate Banking Committee hearing, Fed Chair Jerome Powell indicated they would only issue a CBDC if Congress approves one and that maintaining user privacy would be a top priority. “We’re nowhere near recommending—or let alone adopting—a central bank digital currency in any form. People don’t need to worry about it,” he said.
The Federal Reserve in 2022 launched a 12-week pilot program with a number of top financial institutions and firms to test a CBDC.
Also in the document shown by Senator Emmer, the Federal Reserve’s other priorities involve FedNow, their instant transfer payment system launched last year, allowing for 24x7x365 transactions to be accomplished in seconds. Though the Feds have attempted to downplay that this rail system acts as a springboard for a CBDC, official White House documents have stated otherwise, that FedNow indeed will act as a facilitator for a CBDC.
AUTHOR COMMENTARY
Central banks are all moving in concert together to launch a CBDC, and the claims by Powell and company, trying to play stupid and pretend there are unsure if they even want to have one, are simply just gaslighting. We’ve known for a while that they very clearly are going to issue a CBDC, and it matters not what Congress and Governors think about it: they control the flow of money, therefore they control the power.
The rich ruleth over the poor, and the borrower is servant to the lender.
Proverbs 22:7
[7] Who goeth a warfare any time at his own charges? who planteth a vineyard, and eateth not of the fruit thereof? or who feedeth a flock, and eateth not of the milk of the flock? [8] Say I these things as a man? or saith not the law the same also? [9] For it is written in the law of Moses, Thou shalt not muzzle the mouth of the ox that treadeth out the corn. Doth God take care for oxen? [10] Or saith he it altogether for our sakes? For our sakes, no doubt, this is written: that he that ploweth should plow in hope; and that he that thresheth in hope should be partaker of his hope. (1 Corinthians 9:7-10).
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