U.S. Rep. Tom Emmer has reintroduced legislation that would ban the Federal Reserve from issuing a central bank digital currency (CBDC), which the majority whip described as a potential threat to the “American way of life.”
As the Biden administration explores the possibility of developing a digital dollar, Emmer said the idea could dismantle “Americans’ right to financial privacy.”
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Florida Gov. Ron DeSantis laid out the broad strokes of his economic policy in an interview with Just the News, vowing to reinvigorate America’s manufacturing base, rein in the Federal Reserve and ban a central bank digital currency if elected president.
“Cash is king,” he declared.
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“[W]e would not proceed with this without support from Congress, and I think that would ideally come in the form of an authorizing law, rather than us trying to interpret our law to enable this.”
That was Federal Reserve Chairman Jerome Powell in March 2021, noting the fact that when it comes a central bank digital currency – a more distinct possibility after several bank failures have swept across the global financial system – that Congress simply has not authorized such an undertaking.
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A collection of seemingly random crises can spell out a sinister “conspiracy theory” when you consider their connections and where they are leading. An overplayed plot? Perhaps, but how many so-called conspiracy theories have proven to be reality recently?
First, the world economy shut down with the COVID lockdown. Manufacturing stopped and capital construction projects were put on hold. No one was making anything, and consumers were buying very little.
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