UPDATE 8.30.23: Many people believe that businesses must accept cash as payment, but that is not the case. At the federal level, there is no law forcing businesses to accept cash. There are some states that have banned the rejection of cash payments. Those states are (as of 11/14/2022, according to ATMIA):
- New York
- New Jersey
- Rhode Island
Some states have opted instead to ban CBDCs. Those currently include Florida and Alabama, but others have legislation working its way through the process.
UPDATE 3.21.23: Florida Governor Ron DeSantis has proposed a law banning the use of central bank digital currencies in the state of Florida. CoinDesk’s Stephen Alpher reports:
A legislative proposal from Florida Gov. (and possible Republican U.S. presidential candidate) Ron DeSantis would prohibit the use of a national central bank digital currency (CBDC) as money within his state.
“Today’s announcement will protect Florida consumers and businesses from the reckless adoption of a ‘centralized digital dollar’ which will stifle innovation and promote government-sanctioned surveillance,” DeSantis said in a press release.
The proposed law would also prohibit in Florida the use of a CBDC issued by any overseas central bank. The governor’s statement calls on other states to adopt similar legislation.
President Joe Biden last year issued an executive order for the federal government to study the possible uses and risks of a CBDC.
In addition to privacy concerns, DeSantis said a federal CBDC would diminish the role of community banks and credit unions.
UPDATE 6.30.22: Alarm bells should be going off for Americans who want a dependable currency. The push for a “digital dollar” is intensifying, and now Congressman Jim Himes (D-CT), the chairman of Congress’s Select Committee on Economic Disparity, is pushing hard for digitizing your dollars. Why is it important that he’s the chairman of the Select Committee on Economic Disparity? A digital dollar will make manipulation of your money via negative interest rates a snap. And if all your money is digitized, wealth taxation becomes easy as the push of a button.
Of course, Himes isn’t advertising digital dollars that way. Instead, he’s using the troubles of cryptocurrencies to set up a digital dollar as a White Knight that can Americans from them. Though most Americans have never owned the speculative assets.
Himes recently released a document laying out his vision of a central bank digital currency for America. You can read his entire proposal paper here. He sets up the digitalization of the dollar as a race the U.S. must win or else, what? Or else the country maintain the strength of its currency and savers and investors maintain their independence from wealth taxation? A cashless society would be a debacle for Americans. No thanks.
Originally posted on May 2, 2022.
A cashless society will allow the elites of society to “monitor, control and tax every transaction,” explains Lewellyn H. Rockwell at LewRockwell.com. The aim, explains Rockwell, is the ability to “cut [Americans] off entirely,” if they resist. He writes (abridged):
The elites have been aiming to eliminate hand-to-hand cash for decades, as it will allow them to monitor, control and tax every transaction.
A story in The New York Times exposes what brain-dead Biden and the gang of neo-cons that controls him have in store for us.
According to an item that was published April 26, “When Defense Secretary Lloyd J. Austin III declared Monday at the end of a stealth visit to Ukraine that America’s goal is to see Russia so ‘weakened’ that it would no longer have the power to invade a neighboring state, he was acknowledging a transformation of the conflict, from a battle over control of Ukraine to one that pits Washington more directly against Moscow. . . in word and deed, the United States has been gradually pushing in the direction of undercutting the Russian military.
Why is the US following this policy? Dr. Ron Paul has an important part of the answer. Just as in World War I, the “merchants of death” have a lot to gain financially. “One group of special interests profiting massively on the war is the US military-industrial complex. Raytheon CEO Greg Hayes recently told a meeting of shareholders that, ‘Everything that’s being shipped into Ukraine today, of course, is coming out of stockpiles, either at DOD or from our NATO allies, and that’s all great news. Eventually we’ll have to replenish it and we will see a benefit to the business’.”
The advocates of a New World Order don’t care about risking nuclear war. They aim to control us all so that there is no escape for anybody. This is a vast subject, but let’s look at just one more issue. Our “masters” in Washington want to take away our cash so they can keep tabs on all our transactions and, if we resist, cut us off entirely.
We don’t have much time left. Let’s do all we can to protest against the New World Order.
Llewellyn H. Rockwell, Jr. former editorial assistant to Ludwig von Mises and congressional chief of staff to Ron Paul, is founder and chairman of the Mises Institute, executor for the estate of Murray N. Rothbard, and editor of LewRockwell.com. He is the author of Against the State and Against the Left.
Read more here.
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