Biden adopts policy encroaching on individual financial rights

There are fears that the administration of President Joe Biden of the United States (US) is moving fast towards adopting a policy that will encroach on citizens financial rights in America. Concerns are being expressed in the US that as the White House is only announcing the study phase of a central bank digital currency (CBDC), the CBDC facility is already developed quietly.

The White House in a report on last Friday disclosed an “interagency working group” for the development of a central bank digital currency (CBDC) that could ease government control over personal finances.

National Daily gathered that the announcement, which marks a significant step toward a U.S. CBDC recently imposed by investment giant, Robert Kiyosaki, as “communism in its purest form,” was issued in reaction to Executive Order 14067 of President Joe Biden on March 9.

The March 9 executive order was said to have mandated that the Biden administration “places the highest urgency on research and development efforts into the potential design and deployment options of a United States CBDC,” and called for an analysis of its “potential implications.”

The order was said to praise a U.S. CBDC’s potential for interoperability with other countries’ CBDCs, which would open the door to a cohesive international digital financial system.

The September 16 White House report was said to have commended the potential “significant benefits” of a U.S. CBDC, which signals the creation of an interagency group to study the effects of a CBDC and share its findings.

According to the White House report, “To support the Federal Reserve’s efforts and to advance other work on a potential U.S. CBDC, the Treasury will lead an interagency working group to consider the potential implications of a U.S. CBDC, leverage cross-government technical expertise, and share information with partners.”