When Barack Obama was in the White House and Democrats controlled Congress for his first two years in office, they passed a bill dubbed “Obamacare” that was the first step toward giving federal government bureaucrats complete control over Americans’ health care.
Since all Americans require medical care during their lives, the move was seen by critics as the ultimate authoritarian move; after all, if the government controls all healthcare decisions, tyrannical government bureaucrats could then begin to dictate behaviors and reward or punish people based on behavior.
Now, the government is attempting yet another major authoritarian move: The creation of a “digital currency” with the endgame objective being to control behaviors through “programmable” money that can influence and/or block certain spending habits.
“The Federal Reserve Bank of New York’s Innovation Center, or NYIC, announced that it would be launching a 12-week proof-of-concept pilot for a central bank digital currency, or CBDC,” Coin Telegraph reported this week.
The outlet continued: “In a Nov. 15 announcement, the New York Fed said the program would explore the feasibility of an ‘interoperable network of central bank wholesale digital money and commercial bank digital money operating on a shared multi-entity distributed ledger’ on a regulated liability network. Banking giants including BNY Mellon, Citi, HSBC, Mastercard, PNC Bank, TD Bank, Truist, U.S. Bank and Wells Fargo will be participating in the pilot by issuing tokens and settling transactions through simulated central bank reserves.”
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