Written by Lawrence Kadish via The Gatestone Institute,
When I was a sparring partner for professional boxers many, many years ago, I was taught to distrust the coup. It’s a tactic used to distract an opponent while setting them up for a devastating power punch that knocks them down for the count.
Biden is throwing punches.
The coup is a somewhat notorious executive order with the innocuous number 14067 and its title, “Ensuring Responsible Development of Digital Assets.”
In a 21st century world where cryptocurrency and cybercrime are now embedded threats to our collective financial security, this executive order appears to address these issues. This is the blow.
In fact, that order includes language that allows the Federal Reserve System to “explore” the possibility of introducing digital currency in the United States. This means that your cash turns into so much colored paper. This would not be the only catastrophic impact on our society and the nation’s economy.
With this new digital currency, any transfer of funds to family, friends, charities or customers could be tracked by the central bank of the nation that issued this virtual money. Big Brother will be in your wallet every hour or every day.
You won’t be able to buy a stick of gum without a Federal Reserve computer knowing where, when, and to whom you just paid a dollar.
Like any stroke, it starts with a feint.
“At this stage, the Fed is just bringing the issue into the public debate and weighing the options,” according to Eswar Prasad, an economics professor at Cornell University who was interviewed by the Associated Press in a news story on 24 august
White House apologists insist that the Executive Order does not implement digital currency or give Washington the power to control it.
Assuming it is true, what it does achieve is to introduce the possibility of considering it a monetary movement so radical, so profound and so disruptive that it makes George Orwell’s nightmare novel “1984” a day in the park?
We should be rightly concerned about inflation, energy independence, aggressor nations armed with nuclear weapons, and whacky public policies that denigrate the very foundations of this great country.
But these pale in comparison to the enormous destructive power of a digital currency “option” included in Executive Order 14067..
Nations have risen and fallen far from the battlefield, their destinies determined by their economic policies.
We should provoke our collective outrage to even face the idea of introducing digital currency into America’s future: if it becomes reality, we will not recognize our democracy.