Front-line lawmakers like these are the only thing standing between us and a lifetime of getting paid in company scrip.
The Federal Reserve is dead set on banning the physical dollar and switching to a central bank digital currency (CBDC). Once that happens, the anonymity that comes with physical money will become a thing of the past.
For obvious reasons, most of the world isn't interested in a version of Bitcoin that is backed by nothing but the integrity of the U.S. political system.
Members of the North Carolina House of Representatives unanimously voted 118-0 against using their state as a guinea pig for this impending financial disaster.
The bill bans not only CBDC itself but also any preliminary testing of the technology. North Carolina has spoken: cash or credit only.
But Will It Be Enough???
As much as I want to celebrate with North Carolina, it alone might not be strong enough to prevent CBDCs from becoming a reality.
After all, this “FedCoin” will be supported by the full weight of the federal government. All the government has to do is threaten to revoke federal funding for any states that refuse to play ball.
If you ask me, it might already be too late. The U.S. has already become a surveillance state in many ways — not quite as bad as China but much worse than others.
Credit cards and online banking give the government a huge window into your personal life. Now imagine if your credit card company and the government were one and the same.
The Death of Anonymity?
Some media outlets are already trying to paint this as a Luddite tale of old politicians refusing to accept new technology. They couldn’t be more wrong, and their ignorance is fuel to the fire for a major financial crisis.
Others are saying it’s too late and that "FedCoin" is all but inevitable. With that mentality, it certainly will be.
But states like North Carolina and soon Florida are hurrying to get protective laws on the books. It’s not a partisan issue — this is a clear case of government oversight that has practically no upside for citizens.
There is no added convenience here for the average person. What’s the difference between the "FedCoin" and my credit card, for instance?
And for those who are REALLY security-conscious, crypto options like Monero and Bitcoin already offer secure transactions without looping in Uncle Sam.
The only reason the Fed would push this bizarre idea so hard is to gather more of that precious user data. Buying too much of one item could put you on a watch list, while not buying enough vegetables could affect your health insurance.
It’s the government’s wet dream come true.
So what is the average citizen to do? Surprisingly, you have more power than you might think.
You’re going to want to protect yourself from the watchful eye of Big Brother. There are a few easy ways you should be doing that NOW, even without the "FedCoin" tracking your every move.
