Central Bank Digital Currencies - The Big Question
I’m going to be out most of the day and probably will not be able to have a Substack ready for tomorrow. I saw a news story relating to the announcement that the Federal Reserve is ready to roll out its Central Bank Digital Currency (CBDC) payment system this coming July and wanted to comment on what I’ve been reading.
For those who are unfamiliar with the arguments against a 100%-based digital currency controlled exclusively by the Federal Reserve, recall that you’ve heard how individuals and some companies have been "de-banked" in the last decade. For example, many are worried that if records show they are unvaccinated, their accounts will be shut off until they are. Or, until you turn in your firearms, you will have no access to commerce. Some believe that the powers that be wouldn’t do this, but without being an alarmist, I believe it’s a very real possibility. Many have been sounding the alarm on these CBDCs and telling people this is our last stand and we have to "fight like hell!" What IS being done in reality to combat CBDCs?
Some people think I’m a fanboy of the governor of Florida, Ron DeSantis. But that usually comes from the ideologically possessed adjacent to me. With that being said, Governor DeSantis proposed a ban on all CBDCs in the state of Florida this week. Here’s what he said to the Florida legislature:
I am here to call on the legislature to pass legislation to expressly forbid the use of CBDC as money within Florida’s uniform commercial code.
The article continues:
DeSantis called out the notion of the government having a “direct view of all consumer activities.”
“Any way they can get into society to exercise their agenda, they will do it […] How do we know? Because we’ve seen this happen in other parts of the world,” DeSantis said.
DeSantis went on to mention that he’s talking to other state leaders about doing this in tandem:
He spoke with Texas’ lieutenant governor and believes they may do something similar to Florida.
“I think it’s really important that states stand up to fight back against some of the things that are going on, or most of the things that are going on right now in Washington, because they don’t have your best interests at heart. They have their own power at heart,” DeSantis said.
What are the implications if a couple of states ban the use of CBDCs within their jurisdiction? As a friend mentioned upon being informed of DeSantis’ proposal to ban CBDCs, this essentially bans CBDCs nationally or at least prevents the Fed’s CBDC from being made the only legal tender in the USA.
Is the “fight” against a digital currency, something that could be turned off if you have opinions that are contrary to the regime, over? No. But I think this gives us a glimpse into how states and localities can mitigate the attack on decent and normal people going forward.
In addition to DeSantis (and those red governors who are embarrassed into following his lead) banning CBDCs, these states should form interstate compacts solidifying an economic deadzone for FedCoin. This could later be expanded to shield residents from all other future attempts at digital controls by the pedophile class.
Also, and not to try and sound tough and cool—but honestly, these states should make provisions for militias not subject to federal control. This could be as simple as passing Defend the Guard bills at the statehouse and pulling state militias home or it could go as far as handing out state-issued rifles to every citizen over a certain age and mandating regular training (as extreme as that sounds, similar measures have a history in this country). This would be a flex that hasn't been felt by the feds since the Nullification Crisis.
Yeah, I found this very encouraging. The Feds can exert a lot of pressure, so there are lots of reasons to be pessimistic about how this might turn out, but it’s still a hopeful sign. It would be especially nice if a state like Texas would enact similar legislation.