The White House has issued a statement on its approach to regulating cryptocurrency. On September 16, 2022, a memo was released titled “FACT SHEET: White House Releases First-Ever Comprehensive Framework for Responsible Development of Digital Assets.”
This follows “President Biden’s March 9 Executive Order (EO) on Ensuring Responsible Development of Digital Assets outlined the first whole-of-government approach to addressing the risks and harnessing the potential benefits of digital assets and their underlying technology.”
Key Conspiracy Theory Red Flags
• A One World Digital Currency
• A Mechanism for Universal Basic Income (UBI)
• Inflation of the Police State
• 4th Amendment Violations
• Climate Change
The statement includes virtuous claims like “consumer and investor protection” and “financial inclusion.” Alexander Hamilton used the same argument to affirm the installation of a central bank.
“No society could succeed which did not unite the interest and credit of rich individuals with those of the state. All communities divide themselves into the few and the many. The first are rich and well-born, the other the mass of the people. The people are turbulent and changing; they seldom judge or determine right.”As mentioned in The Patriot Report: Unmasking the Conspiracy of Money and War”
Supplement your knowledge of the new FedCoin or CBDC here.
Declarations like “increased enforcement of existing laws” and “aggressively pursue investigations and enforcement” scream POLICE STATE. With Biden’s record as it relates to mass incarceration, this is no shock.
There is mention of a FedNow initiative to handle, “instantaneous, 24/7 interbank clearing system that will further advance nationwide infrastructure for instant payments alongside The Clearinghouse’s Real Time Payments system.” They do mention that “some digital assets could help facilitate faster payments”, which may allude to the CBDC.
The ability to use FedNow to handle payments to citizens, like welfare and UBI, was mentioned as “other government-to-consumer payments.”
Be on the lookout for the October 2022 report from the Financial Stability Oversight Council (FSOC) “discussing digital assets’ financial-stability risks, identifying related regulatory gaps, and making additional recommendations to foster financial stability.”
For the climate change agenda watchdogs “The Department of Energy, the Environmental Protection Agency, and other agencies will consider further tracking digital assets’ environmental impacts; developing performance standards as appropriate; and providing local authorities with the tools, resources, and expertise to mitigate environmental harms.”
For the Globalist agenda watchdogs “The State Department, the Department of Justice (DOJ), and other U.S. enforcement agencies will increase collaboration with—and assistance to—partner agencies in foreign countries through global enforcement bodies like the Egmont Group, bilateral information sharing, and capacity building.”
4th Amendment Violations
In the Fighting Illicit Finance section of the statement, they mention anti-money laundering and countering the financing of terrorism. Basically, trade your freedom for “safety.”
The Bank Secrecy Act of 1970 obliterated our 4th amendment rights and “The President will evaluate whether to call upon Congress to amend the Bank Secrecy Act (BSA).” I can only assume our freedoms will be stripped even further.
The key court cases surrounding your 4th Amendments rights include:
• United States v. Miller – 425 U.S. 435 (1976)
• California Bankers Ass’n v. Shultz, 416 U.S. 21 (1974)
• Boyd v. United States, 116 U. S. 616, 622 (1886)
• Byars v. United States, 273 U. S. 28 (1927)
• Katz v. United States, 389 U. S. 347 (1967)
• Berger v. New York, 388 U.S. 41 (1967)
“In the case of the Bank Secrecy Act, also potentially involving First, Fourth, and Fifth Amendment rights of the vast majority of our citizenry, it exceeds Congress’ constitutional power of delegation to empower the Secretary of the Treasury to require whatever reports and records he believes to be possessed of-a “high degree of usefulness” where the. purpose is-to further “criminal, tax, or regulatory investigations or proceedings.”Justice Brennan
Among the reasons to install a digital form of the U.S. dollar include inclusion and equity (virtue signal to minorities to gain their support), fostering economic growth and stability, safeguarding the privacy of sensitive data, and preserving U.S. global financial leadership (maintaining USD supremacy).
But they cover their tails by stating a CBDC could have unintended consequences, including runs to CBDC in times of stress.
Watch the video below for a full breakdown.