- Digital Tyranny: Beware of the Government’s Push for a Digital Currency
by John W. Whitehead & Nisha Whitehead, https://www.rutherford.org/
…. The government wants your money. It will beg, steal or borrow if necessary, but it wants your money any way it can get it. The government’s schemes to swindle, cheat, scam, and generally defraud taxpayers of their hard-earned dollars have run the gamut from wasteful pork barrel legislation, cronyism and graft to asset forfeiture, costly stimulus packages, and a national security complex that continues to undermine our freedoms while failing to making us any safer.
Americans have also been made to pay through the nose for the government’s endless wars, subsidization of foreign nations, military empire, welfare state, roads to nowhere, bloated workforce, secret agencies, fusion centers, private prisons, biometric databases, invasive technologies, arsenal of weapons, and every other budgetary line item that is contributing to the fast-growing wealth of the corporate elite at the expense of those who are barely making ends meet—that is, we the taxpayers.
This is what comes of those $1.5 trillion spending bills: someone’s got to foot the bill.
Because the government’s voracious appetite for money, power and control has grown out of control, its agents have devised other means of funding its excesses and adding to its largesse through taxes disguised as fines, taxes disguised as fees, and taxes disguised as tolls, tickets and penalties.
No matter how much money the government pulls in, it’s never enough, so the government has come up with a new plan to make it even easier for its agents to seize Americans’ bank accounts. Make way for the digital dollar.
In an Executive Order issued on March 9, 2022, President Biden called for the federal government to consider establishing a “U.S. Central Bank Digital Currency (CBDC).”
Similar to cryptocurrencies such as Bitcoin, CBDCs would also be a form of digital money, but there the resemblance ends. If adopted, CBDCs would be issued by the Federal Reserve, the central banking system for the U.S. government. One CBDC digital dollar would equal the value of a physical dollar. And like the physical dollar, which ceased to be backed by gold more than 50 years ago, the CBDC would be considered a government-issued fiat currency that is backed by the strength and credit of the U.S. government. (Of course, that’s not saying much considering that much of the time, the U.S. government operates in the red.)