The U.S. House Just Passed a Bill Banning the Federal Reserve From Issuing a CBDC

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You recognize these recurring nightmares all of us have?

The one the place all of your family and friends are caught within a burning constructing, whereas nobody is heeding your calls that will help you assist them?

No? Simply us. Bizarre.

Properly, we really feel an identical kind of panic after we take into consideration Central Financial institution Digital Currencies (CBDCs).

In case you’re unfamiliar with the concept of CBDCs, the fundamental gist is that this:

It’s a authorities owned/issued US greenback stablecoin.

Which, on the floor, sounds innocent — however it opens the door for some fairly dystopian ideas to weasel their means into our actuality.

The most important and most regarding being:

A centralized programmable cash would enable the federal government to primarily ‘swap your cash off’ (to not point out monitor each cent you earn/spend without having to serve your financial institution a warrant).

We’re not saying they’d, simply that they may — and that’s scary sufficient by itself.

The excellent news is:

Congress is preventing it! The truth is the U.S. Home simply handed a invoice that seeks to ban CBDCs all collectively.

Now, it nonetheless must make it via the Senate, which is a taller job by comparability — however it’s value celebrating regardless.

Trigger it lastly seems like somebody (congress) is acknowledging the burning constructing that’s crammed with our family and friends (CBDCs).