U.S. Rep. Tom Emmer (R-Minn.) on Wednesday introduced a bill to prohibit the Federal Reserve from issuing a Central Bank Digital Currency (CBDC) or using a CBDC to control monetary policy.
Emmer’s bill would also require the Federal Reserve to be transparent with Congress about any attempts it makes to study the implementation of digital currency systems in the U.S.
Centralized governments are increasingly exploring the possibility of using crypto-currency inspired digital currency technology to digitize money and financial systems, but freedom and privacy advocates warn that such CBDCs would give unprecedented power and control to the Fed and federal government.
Using CBDCs, central governments could enforce social credit systems, like those used by the Communist Party in the People’s Republic of China.
That’s because a CBDC would use programmable money, which would mean a central authority could determine how much money you can spend, what you can spend it on, and even how much money you’re allowed to save.
CBDCs could even be used to program negative rates on savings accounts if central authorities wanted to encourage spending to stimulate the economy.
[RELATED: Beware the Digital Dollar and CBDCs…]
This is a bad cat, and the Republicans just gave him their most powerful position. Wonder how much Soros money went into that “election”? https://www.georgiarecord.com/politics/2023/10/22/sources-say-no-to-fomer-soros-spokesperson-rep-tom-emmer/
As a newbie to cryptocurrency, i lost a lot of money trading on my own. I would like to express my gratitude to Expert Bernie Doran for their exceptional assistance in recovering my funds from a forex broker. Their expertise and professionalism in navigating the complex process were truly commendable. Through their guidance and relentless efforts, I was able to successfully retrieve my funds of $150,000, providing me with much-needed relief. I highly recommend him on Gmail ( Berniedoransignals (@) gmail (.) com) to anyone facing similar challenges, as their dedication and commitment to helping clients are truly impressive. Thank you, Bernie doran, for your invaluable support in resolving this matter. i also invested $2000 with his guidance and got a good ROI profit of $15,000 using his signals and strategies
tell him i referred you