The House Bans The Fed From Building A CBDC Like The Digital Yuan

[Leasy]

There been rumors that the Feds wants to do this... I wonder what will happen from here on out.

The House Bans The Fed From Building A CBDC Like The Digital Yuan

House legislators have decided not to pursue China’s path when it comes to central bank digital currencies, digital freedom and financial surveillance.

www.forbes.com

The House of Representatives has made a significant move by banning the Federal Reserve from creating the "digital dollar," a central bank digital currency. This decision, proposed by the House Majority Whip, Rep. Tom Emmer, as the "CBDC Anti-Surveillance State Act," is a crucial amendment to the Federal Reserve Act, which governs the US central banking system. The amendment states, "The Board of Governors of the Federal Reserve System and the Federal Open Market Committee may not use any central bank digital currency to implement monetary policy."



The vote on the ban was almost a party-line vote, with three Democrats joining all Republicans in voting yes. However, the Bill still has a long way to go before becoming law - it needs to pass a vote in the Senate and potentially stand a presidential veto. The fact that Ex-President Trump has repeatedly mentioned that he would not allow a "digital dollar" to be built and the chairman of the Federal Reserve, Jerome Powell, had also said that the Federal Reserve would not start implementing a digital dollar without congressional approval, adds to the potential implications of this ban passing the House. The Senate likely has allies on a CBDC ban, though whether there is a majority and/or a veto-proof majority would be an open question.

With the BRICS creating a form of digital currency something got to give. shyt about to get spooky

 

[Chrishaune]

I mean, if they collapse the economy people will be begging for a new system, so they'll just reintroduce the idea in another form.

It's never what they try to make it seem.

Next time it will be "we need it for security and stability" and people will give in.

 

[Leasy]

I mean, if they collapse the economy people will be begging for a new system, so they'll just reintroduce the idea in another form.

It's never what they try to make it seem.

Next time it will be "we need it for security and stability" and people will give in.

America is so corrupt a digital system will have everything tracked. These politicians don't want that shyt and the Donald Trumps. I agree with what you saying though because the FEDs want this.

 

[Chrishaune]

America is so corrupt a digital system will have everything tracked. These politicians don't want that shyt and the Donald Trumps. I agree with what you saying though because the FEDs want this.

The World Economic Forum wants that so they will do everything they can to get it, even going around United States law. They'll go through international law.