Several months ago, the White House quietly announced, on its blog on a Friday, that they were indeed exploring a “digital dollar” (a central bank digital currency (CBDC)) and considering whether to go forward with the project. This was somewhat disingenuous since this was part of the administration’s strategy since taking office to have control over all transactions.
This should be of concern to anyone who doesn’t trust big government or government overreach. As the governments in China and India did, it is very likely that the Biden administration will outlaw crypto currency in the U.S. so every digital transaction can be monitored and controlled by the federal government and those in big tech who are a part of the development of the new digital dollar. One of the big concerns is that the government will have the power to “turn off” the ability of a targeted person from making any type of purchase; including food and gas. Much like politicizing government agencies, this power would be used to cause real injury to those who might express ideas or opinions that go contrary to this administration.
Thankfully, John Stossel has seen the same concern in this drive towards a digital dollar and sat down the Florida governor Ron DeSantis to discuss the concern. DeSantis clearly gets it and brings up several valid points.
