Will Your State Reject The Fed’s Digital Dollar?

[The Mark]

From the article.
——
The Federal Reserve Act of 1913, passed by the 63rd Congress and signed into law by President Woodrow Wilson on December 23, 1913, established the Federal Reserve System, the central bank of the United States. The Federal Reserve Act also delegated the right to issue money from Congress to the Federal Reserve.

In this regard, the current U.S. dollar, a Federal Reserve Note, is illegal money. It is issued by the Federal Reserve – not Congress – in direct violation of the U.S. Constitution. Moreover, when states collect tax dollars that are devoid of gold or silver coin, they violate the Constitution

That seems to contradict itself.

Congress is given the power to issue money, congress delegates it to the Federal Reserve, yet this author is arguing that all the federal reserve notes are illegal because congress isn't issuing money directly?

Are they supposed to have their staff print it on the office printer?

 

[Mr Person]

I do not want to get rid of cash entirely.

Why is different matter.

 

[SkyChief]

The dollar you place such a high value on is nothing but a piece of paper. It’s entire value is based on nothing more than the strength of the US on a global scale. It isn’t even backed by gold, silver, etc. it is literally just paper.

Agree 100%

Whether that dollar is paper or electronic is completely irrelevant.

Disagree.

paper dollars do not have a block chain, and therefore trading of paper dollars cannot be tracked by government.

Crypto dollars can (and WILL) be tracked by government.

 

[bongsaway]

You are failing to acknowledge that prior to any collapse the privacy cash provides for goods will be incalculable. Bullets will be highly desired as well.

Why bullets? If you can't buy it you can kill for it?

 

[bongsaway]

I do not want to get rid of cash entirely.

Why is different matter.

You need cash to pay bribes, plastic transfers are easy to uncover.

 

[eohrnberger]

"Will Your State Reject The Fed’s Digital Dollar?"
I certainly hope so. I recall how easy it was for Trudeau simply 'turned off' the crypto assets of those he didn't politically agree with.
That being said, if the FBI comes to your bank and freezes your accounts, I'm not seeing much of a difference, except perhaps in the paperwork.

Seems Democrats are wanting to effect political goals by manipulating the US finance system's regulations. For example:

• Under Operation Choke Point, federal regulators instructed banks to openly discriminate against entire industries the Obama administration found objectionable. Weaponizing the power of banking regulators at the Federal Deposit Insurance Corp. and the Office of Comptroller of the Currency, the Obama administration realized it could block entire industries from the banking system that it didn’t like. This made it difficult — if not impossible — for politically unfavored businesses such as gun sellers and short-term lenders to operate.
• At least one bank, however, admitted to choking off three legal enterprises at the government’s behest. Dozens of business owners — many of them gun sellers and short-term lenders — said their bank accounts and access to credit card processing platforms were suddenly stymied or shut down with no explanation and no opportunity for recourse.
• In the media, a Jewish, pro-Israel, pro-choice, bisexual writer was choked from The New York Times for not being leftist enough – Cancel Culture
• In Hollywood, a conservative actress was choked from Disney for expressing politically incorrect views on her private social media account. In the beauty blogging world, a conservative blogger was ousted from her role as a Sephora representative – Cancel Culture
• While cancel culture has led to a politicized economy, the federal government’s arbitrarily targeting of individuals, groups, and entire companies will increase the politicization of the country, where the only acceptable views are from those in power. – Cancel Culture
• Operating in the dark corners of the federal bureaucracy, Operation Choke Point bypasses public input and the legislative process, leaving politically unpopular individuals and businesses to fend for themselves. If the Biden administration’s rule reversal is any sign, the next four years won’t be about unifying the country to “Build Back Better.” – Deep State
• Three years ago, former President Obama infamously claimed his administration “didn’t have a scandal that embarrassed us.” While it’s tempting to point to Operation Choke Point to refute this, perhaps Obama was right. With Biden sitting by Obama’s side, the Obama administration wasn’t the least bit embarrassed about using its powers to choke legal businesses from existence. Indeed, it was the entire goal and they appear poised to do it again. – Obama 3.0

Biden Administration Prepares Way For Banks To Refuse Service To Democrats’ Enemies​

By abusing the powers of federal regulators, Operation Choke Point 2.0 would stifle the bipartisanship, unity, and healing President Biden claims to desire.​

By Kelsey Bolar, FEBRUARY 19, 2021​

Biden Prepares Way For Banks To Refuse Service To Democrats' Enemies

By abusing the powers of federal regulators, Operation Choke Point 2.0 would stifle the bipartisanship, unity, and healing President Biden claims to desire.

thefederalist.com

Backdoor regulation 'workarounds' to penalize and punish those that they politically disagree with appears to be the Democrat's stock and trade.
Consider their ESG financial regulations implemented during the present administration, which purposefully chokes off financial resources from the petroleum industry.

 

[VySky]

You need cash to pay bribes, plastic transfers are easy to uncover.

Then they must of paid the big guy Biden the 10M in cash since the Feds can't seem to trace it.

 

[noonereal]

In full disclosure I need to bone up on this. It’s caught my attention for various reasons. Im against eliminating US currency. The article mentions the lack of privacy we get with cash purchases will be dispatched. There will come a time IMO where cash in hand, bullets etc will be highly traded. We can’t do that on a phone in hard times. People put cash under their mattress, not an IPhone.
—————

Personal and political freedoms are inseparable from economic freedom. To this end, economic freedom is contingent upon an economy that transacts using honest money that’s free from coercion.

Volumes have been written on America’s experience with money of varying veracity. Here we’ll touch on a few key events.

Article I, Section 8, of the U.S. Constitution empowers Congress to coin money and regulate its value thereof. Article I, Section 10, specifies that no state shall make anything but gold and silver coin a tender in payments of debts.

The Federal Reserve Act of 1913, passed by the 63rd Congress and signed into law by President Woodrow Wilson on December 23, 1913, established the Federal Reserve System, the central bank of the United States. The Federal Reserve Act also delegated the right to issue money from Congress to the Federal Reserve.

In this regard, the current U.S. dollar, a Federal Reserve Note, is illegal money. It is issued by the Federal Reserve – not Congress – in direct violation of the U.S. Constitution. Moreover, when states collect tax dollars that are devoid of gold or silver coin, they violate the Constitution.

Economic freedom has been greatly undermined by Washington over the years. Executive Order 6102 of 1933, for example, forced all American citizens to turn in gold coins and bars. Gold ownership in the United States, with some small limitations, was illegal for the next 40 years.

Economic freedom was again undermined when President Nixon “temporarily” suspended the convertibility of the dollar into gold in 1971. This action removed any remaining protection workers and savers had against their hard-earned dollars being inflated away.

But now, as the year 2022 nears its close, another extremely destructive event approaches…

Proof of Concept Project​

Over the last 110 years economic freedom in the United States, as in the world, has been in decline. Through a continuing process of debasement, the Fed has inflated away 96 percent of the dollar’s value.

In other words, today it takes $1 to buy the equivalent of what $0.04 could buy in 1913. This is a downright disgrace.

Will Your State Reject the Fed’s Digital Dollar? | Economic Prism

economicprism.com

why do you start threads?

 

[bongsaway]

Then they must of paid the big guy Biden the 10M in cash since the Feds can't seem to trace it.

OR, there is nothing to chase? We'll find out soon enough, the keystone cops will be investigating come january.

 

[Mr Person]

You need cash to pay bribes, plastic transfers are easy to uncover.

Even if not engaged in illegal activity and even if it benefits some who do, I do not like everything fully traceable. I suppose I'll have to flesh out my opinion in the coming years, since they will be trying to get rid of paper money at some point.

 

[Individual]

The dollar you place such a high value on is nothing but a piece of paper. It’s entire value is based on nothing more than the strength of the US on a global scale. It isn’t even backed by gold, silver, etc. it is literally just paper.

Whether that dollar is paper or electronic is completely irrelevant.

Fiat currencies are backed by the things that can be exchanged for them, including other fiat currencies.

From 1 Nov to 1 Dec
USD vs
EUR -4.05%
JPY -6.03%
GBP -3.71%
CNY -2.33%
CHF -4.82%
RUB -0.42%
XAU -7.81% to -8.15%

 

[bullseyelqcs]

I do not want to get rid of cash entirely.

Why is different matter.

Because its gonna be tough to throw crypto at a stripper pole?

Probably wouldn't carry the same sense, either.