2/26/24: Why Are Some U.S. Lawmakers Opposed to CBDCs?

By SRH,

Update: Government oversight, management, and regulation are applied to digital currencies called CBDCs. There are concerns that these measures could pave the way for a dictatorship through the implementation of digital IDs, immunization passports, social credit ratings, and other policies.

This article details the workshop’s schedule and emphasizes the importance of paying attention to CBDCs.

Delving into the Political Landscape in America for CBDCs

It is possible that the US could introduce a CBDC before the 2024 presidential election. Congress and President Biden seem to be on the same page regarding the approval of the investigation into a CBDC.

President Biden signed Executive Order 14067 on March 9, 2022. An executive order has prioritized the design and deployment options for the US CBDC, emphasizing the critical importance of research and development. It is essential for the government to establish a thorough plan before regulating digital assets. Technology is currently in place for a US CBDC, as explained in more detail later on.

Individuals I am acquainted with have been personally affected by the continuous attack on digital assets, and I applaud their dedication to promoting freedom. Radio personality Ian Freeman, a lifetime liberty activist and founder of the Free State Project, has been sentenced to eight years in federal prison for trading Bitcoins.

Aside from managing several ATMs, he helped customers convert their money into cryptocurrencies. In a recent development, the federal government aimed to set an example by using Ian to deter others from utilizing personalized methods to invest in cryptocurrencies. Additional services, like LocalBitcoins, have been compelled to shut down due to government influence.

Jeremy Kaufmann, a member of the Free State Project and a liberty activist, established a company called LBRY, also known as Odyssey. Similar to Bitcoin and other cryptocurrencies, Jeremy’s proposal introduces a decentralized, censorship-resistant YouTube alternative utilizing blockchain technology. He faced a lawsuit from the SEC after they aggressively went after him. Jeremy was specifically targeted despite violating numerous other SEC regulations because his product was seen as a challenge to the US government’s efforts to regulate social media. In October 2023, he was forced to shut down his business.

Out of the 127 businesses flagged by the SEC for potential enforcement action, 24 were added after 2023. Recent developments have made it more challenging for users to engage in cryptocurrency transactions with platforms such as Binance, Bittrex, Coinbase, Kraken, and FTX.

HNewsWire-An American digital currency is on the horizon and will launch soon

The Biden administration is funding research and development of a “United States Central Bank Digital Currency,” or CBDC.

The action is part of a broad executive order announced Wednesday by President Joe Biden, which directs the federal government to investigate potential applications and restrictions for digital assets such as cryptocurrencies.

“My Administration prioritizes research and development efforts into the possible design and deployment options for a US CBDC,” the presidential order states.

The directive directs a broad range of authorities to conduct study and provide findings on a range of topics relating to digital currencies, ranging from design and security to financial and social implications.
A detailed explanation of cryptocurrency’s rising popularity Jan. 31, 2023

“We are well aware of the magnitude of the repercussions of creating a digital dollar. They’re incredibly broad in scope,” a senior administration official told reporters Tuesday on a conference call.

Although a digital currency in the United States would likely have little impact on daily activities such as purchasing goods and services, economists believe it might have a significant impact on central and commercial banking, as well as government sanctions, banking accessibility, and taxation.

“The potential is immense, and it’s quite exciting,” said David Yermack, a professor and head of New York University’s finance department.

According to a fact sheet provided by the White House, the executive order would direct the administration to explore the technological requirements for a digital currency and push for the Federal Reserve to continue its research and development.

In January, the Fed released a white paper discussing the possibility of establishing a CBDC to supplement current payment systems. It concluded that although a CBDC may make payments more affordable and convenient for consumers, it could also jeopardize the integrity of the US financial system.

The government also said in its fact sheet that it will take efforts to “mitigate the illicit financing and national security concerns presented by the criminal use of digital assets” by “directing an unprecedented emphasis of coordinated action across all relevant United States Government departments.”

The United States of America would not be the first nation to adopt a digital currency. China launched its own CBDC, with over 140 million users opening digital “wallets,” and a number of other nations have either launched or are developing their own digital currencies. The Bahamas’ Sand Dollar is widely regarded as one of the most successful digital currencies in the world.

Yermack said that the Biden administration’s decision demonstrated what he thinks is the inevitability of a larger shift toward digital currency.

“The issue is not whether, but when,” he said. “Once central banks get control of the technology, the game is finished.” Yoke

While the administration fact sheet provided no details on how a digital currency in the United States might work, Yermack suggested that the functionality could be relatively straightforward, with transactions flowing directly to and from the Fed, bypassing banks and payment systems and enabling near-seamless cash flows.

It is a simple notion with the potential for far-reaching consequences. According to Yermack, a widely used digital currency would raise existential concerns for banks and a slew of other financial institutions centered on payment facilitation.

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Watchman: Digital Currency: The Beast Has Arrived Compliments of

By StevieRay Hansen | September 19, 2023 |

Biden and the New World Order… Ask The Blind Man ,He Saw it All – Mike Adam refuses to Pay His Invoice, He Owes HHewsWire a Bunch of Money, Has Not Paid as of December… Don’t Ever Post One of Mike Adams Videos on Your Web Page. You’ll Not Ever Get Rid of Him. He Happens to Be an Extortioner. I’ve Tried for 8 Months to Purged Brighton Video Advertisement off HNewsWire. He Has No Regard for Anyone, He Is a Narcissist Self-Centered Egotistic Nut Job, Lawless In recent weeks Jerome Powell at the Federal Reserve and Christine Lagarde at the European Central Bank have commented on the likelihood of implementing digital currencies in the next years. The positives have been well explained. More transparency, ease of use and lower cost. The European Central Bank has stated that “a digital euro would guarantee that citizens in the…

Watchman’s Waring: China Will Be the First Country to Launch a Digital Currency: What Happens Then — All of Satan Soldiers Will Come Together and Biblical History Becomes Reality, the Mark of the Beast Is Here…

By StevieRay Hansen | June 29, 2023 |

On October 1, 2021 I told my readers that China would run our New digital ID program. Well, let’s hear it, folks: which way are you going To go? Atlanta Airport Goes Full Dystopian, Using Digital Facial Recognition IDs, Fulfilling Klaus Schwab’s Prophecy That Humans Will Be Digitized and Many Nations Will Adopt China’s ‘Very Attractive Model’The digitization of humanity has begun in earnest. It’s coming soon to a city near you. Have you thought about how you will react to it? By Leo Hohmann June 28, 2023 World Economic Forum founder and executive director Klaus Schwab heaped praise on the Chinese Communist Party this week for adopting “new COVID control measures” while boosting “social dynamism” at the WEF’s Annual Meeting of the New Champions. We will break down in this article what Schwab means by “social dynamism.” This is…

Watchman Gives Warning:“Digital Currencies”. Removing Any and All Remaining Privacy, Granting Total Control Over Every Transaction, Even Limiting What Ordinary People Are Allowed to Spend Their Money On — Bitcoin Will Die Hard — “Central Bank Digital Will Be the Only Currencies” — (CBDCs) Are Exactly What’s Coming

By StevieRay Hansen | June 27, 2023 |

The Bank of England (Boe) And His Majesty’s Treasury Believe the United Kingdom Is Likely to Need to Create a Central Bank Digital Currency (CBDC) By 2030 The “digital pound” roadmap is set to be introduced next week, a government source told the newspaper. Deputy Governor Jon Cunliffe is scheduled to give an update on the BoE’s work on the CBDC on Feb. 7 “On the basis of our work to date, the Bank of England and HM Treasury judge that it is likely a digital pound will be needed in the future,” BoE Governor Andrew Bailey and Chancellor of the Exchequer Jeremy Hunt told the Telegraph. The BoE declined to comment on the article but announced that a joint consultation on the digital pound would be released soon. The U.K. reportedly experienced a 35% drop in cash and coin payments…

Update: Satan Soldiers Are Pushing for Digital Currency Fear Factor in Play Coronavirus Survives on Banknotes for up to 4 Weeks, Study Finds, as Cash Usage Plunges…

By StevieRay Hansen | February 24, 2023 |

Biden Admin To Regulate Bitcoin ‘As A Matter Of National Security’; Report HNewsWire-The White House wants to bring order to the ‘haphazard approach’ that is currently being employed by regulators to Bitcoin and cryptocurrency. Fed coin will be the only currency around the globe, anyone that believes Bitcoin are any other digital currency is going to remain vibrant will have a hard lesson to learn, hopefully you’re not in deep because they’re going to slam the door on all cryptocurrency. The White House wants to set out a cohesive set of policies to regulate Bitcoin and cryptocurrencies as currently legislation and its enforcement are scattered across sectors and agencies, according to multiple reports. The Biden administration will release an executive order in the coming weeks to task federal agencies with assessing the risks and opportunities that Bitcoin and cryptocurrencies pose, Bloomberg first…

Next Plandemic: Dirty Cash Becomes Digital Trash. The Feds Will Usher in a New Monetary Order. NWO Moving at Warp Speed!

By StevieRay Hansen | January 1, 2023 |

The new world order architects ultimately intend to abolish Christianity, the scientific and cultural legacy of the Renaissance, and implement a terminal “final solution” of the myriad of intractable social problems by reducing the world’s population by a sizable percentage. (The Empire’s Genocide Policy – EIR) HNewsWire- Russia has long recognized the risks associated with having dollars as reserves, and after the invasion of Crimea in 2014, Russia’s central bank has gradually stripped its reserves of the majority of US dollar holdings. However, the dollar, euro, and pound continue to account for more than half of its assets, which are situated in France, Germany, Japan, the United Kingdom, the United States of America, Canada, and Australia. With Moscow and Beijing becoming increasingly allied on the geopolitical stage and China refusing to condemn the Ukraine invasion or join Western sanctions, China’s…

The NEW WORLD ORDER Is Taking Shape: The Movement for Central Bank Digital Currencies (CBDC) “Is Gathering Steam, Fueled by Central Bank Inventiveness

By StevieRay Hansen | December 20, 2022 |

HNewsWire- As a bombardment of Western sanctions wreak havoc on Russia’s economy, some are considering new methods to avoid future US economic restrictions. According to Lewis McLellan, the digital editor of the Official Monetary and Financial Institutions Forum’s (OMFIF) Digital Monetary Institute, one possible weapon for defanging future penalties is central bank digital currency (CBDC) networks: Across Asia, networks of cross-border central bank digital currencies are being developed (like the mCBDC Bridge, which involves Thailand, Hong Kong, China and the United Arab Emirates). Russia’s central bank is developing a digital rouble, and Governor Elvira Nabiullina has indicated interest in the currency’s potential for enabling cross-border transfers, notably with China. A large and unexpected new shift might soon affect the fortunes of thousands, while leaving the majority of people less off than they were before. Additional Information Additionally, the digital yuan…

It’s Here! Digital Currency, One World Religion, New World Order — You Would Have to Be Blind Not to See Where This Is Going.

By StevieRay Hansen | December 13, 2022 |

HNewsWire: The Australian Central Bank is Collaborating With the BIS to Launch a Digital Currency System, A.K.A The Beast Over the next year, Australia’s Reserve Bank will start a pilot program in partnership with the Bank for International Settlements and America is Next (the central bank of central banks) to examine the “benefits” of a blockchain ledger-based digital currency system. The central bank joins a growing list of participants in the BIS‘s attempts to create CBDCs (central bank digital currencies), with the goal of introducing them globally by 2025-2030. It is vital to emphasize that significant economic developments must occur within the next few years in order for CBDC to be a feasible alternative for the general public. Despite the fact that many people choose electronic transactions for convenience, a considerable chunk of the population still prefers cash. In the…

Digital Currency, One World Religion, and the

By StevieRay Hansen | July 14, 2022 | 3 Comments

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Global Planners Seizing The Opportunity That COVID-19 Has Created ‘Digital Currency ‘

By StevieRay Hansen | July 6, 2022 |

As confirmed by several economic outlets, including Bloomberg, Bank of England governor Andrew Bailey took part in a VTALK with students this past Monday for Speakers for Schools. When the subject of digital currency came up, Bailey said: We are looking at the question of, should we create a Bank of England digital currency. We’ll go on looking at it, as it does have huge implications on the nature of payments and society. I think in a few years, we will be heading toward some digital currency. The digital currency issue will be a huge issue. I hope it is because that means Covid will be behind us. While only a short quote, there are several strands to pick up on here. Firstly, Bailey stating that the BOE is looking into creating a CBDC is not a new revelation. I posted a…

Biden Is Paving The Way For A Federally Owned Digital Currency Via Executive Order.

By Bryce Abbott | June 3, 2022 |

President Joe Biden is expected to sign an executive order on Thursday that would look into the possibility of creating a digital currency issued by the US Central Bank (CBDC). Unlike cryptocurrencies like bitcoin, which are not controlled by a single body, this is a digital currency that would be issued by a central bank like the Federal Reserve. The executive order also calls for more research to be conducted in the coming months, as well as policy suggestions from the Treasury Department and other government agencies on how to manage the rapidly growing digital currency sector. According to a White House statement, “the United States must continue technological leadership in this fast emerging field, promoting innovation while minimizing risks for consumers, businesses, the broader financial system, and the climate.” In November, the market capitalization of cryptocurrencies surpassed $3 trillion.…

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