The federal deficit now exceeds $36 trillion, aggravated by the Inflation Reduction Act (which Joe Biden has boasted was really about boosting renewable energy production, not reducing inflation) and his Build Back Better spending spree. President Donald Trump is trying to undo some of the economic damage wrought by the previous administration, but high deficits and high inflation continue to threaten the long-term economic outlook for Americans.
Runaway national debt hangs over America like an economic hangman’s noose. The Biden Administration most certainly seeded the 20% inflation that devoured real incomes, savings, and retirement benefits for millions of Americans, while wealthy real estate owners and developers watched their assets skyrocket. If not deliberate, such a sloppy monetary policy will eventually yield the same result as if it were – hyperinflation. Ultimately, hyperinflation would destroy the US dollar, necessitating a “rescue” by the implementation of an electronic currency.
As it happens, the outline of precisely that mechanism to take over complete control of the US money supply – no more black markets; no cash purchases of anything whatsoever – was laid out in explicit detail on March 9, 2022, by Executive Order 14067, hailed by the White House as the “First Whole-of-Government Strategy to Protect Consumers, Financial Stability, National Security, and Address Climate Risks”:
The rise in digital assets creates an opportunity to reinforce American leadership in the global financial system and at the technological frontier…. The United States must maintain technological leadership in this rapidly growing space, supporting innovation while mitigating the risks for consumers, businesses, the broader financial system, and the climate. And, it must play a leading role in international engagement and global governance of digital assets consistent with democratic values and U.S. global competitiveness.
[The Executive Order calls for measures to] Explore a U.S. Central Bank Digital Currency (CBDC) by placing urgency on research and development of a potential United States CBDC, should issuance be deemed in the national interest. The Order directs the U.S. Government to assess the technological infrastructure and capacity needs for a potential U.S. CBDC in a manner that protects Americans’ interests. The Order also encourages the Federal Reserve to continue its research, development, and assessment efforts for a U.S. CBDC, including development of a plan for broader U.S. Government action in support of their work.
Integrating complete currency control would empower the government to link all access to all goods, including food, heat, transportation, and medical care, to a social credit score, or limit consumption of certain foods (or alcohol). The federal government could simply deny food to political adversaries or upstart critics. Once again, even a well-intentioned rescue by the government of the currency it destroyed with profligate spending such as that exhibited by the Biden Administration (much like the corporate free-for-all that followed the 2007-2008 financial collapse) could have profound negative impacts on Americans who may want to plant a garden or buy food at the grocery store.
Upon entering office, President Trump immediately repealed Joe Biden’s sweeping plans for an electronic currency, but the European Union and its globalist puppet masters continue to push for a worldwide electronic currency while the BRICS nations press for an alternative currency to the US dollar.
The fight for our economy and currency is just beginning….
