Nick Begich
@NickforAlaska
CENTRAL BANK DIGITAL CURRENCIES (CBDCs): In contrast to privately issued cryptocurrencies like Bitcoin and Ethereum, regulatory officials including Treasury Secretary Janet Yellen, Fed Chairman Jerome Powell, and European Central Bank President Christine LaGarde have each rxntrally issued, government-controlled digital currencies or CBDCs. These technologies are sold as a way to stop illicit activity, but make no mistake, CBDCs provide government a level of control that not even Orwell could imagine.
Several nations have already begun implementing these instruments and experimenting with their various “features”: restricting purchases or income based on “social credit score”, tracking and managing permitted purchases based on their carbon footprint, placing expiration dates on digital funds (use it or lose it), collecting tax revenue in real time, and even automatically flagging someone for an audit. The government is not entitled to know and track everything you do. You have the right to live a life without constantly looking over your shoulder.
In Congress, I will fight tooth and nail to stop CBDCs and maintain your right to financial privacy.
2024-01-11T06:26:20.000Z