Biden’s Executive Order: Big Brother In Your Wallet!

The Federal Reserve System may soon be exploring the possibility of introducing a digital currency in the United States. This new digital currency would allow the central bank to track every transfer of funds, from buying a stick of gum to sending money to family and friends.

Is Big Brother Watching Your Wallet?

The White House has issued Executive Order 14067, titled “Ensuring Responsible Development of Digital Assets.” On the surface, this order addresses the issues of cryptocurrency and cybercrime, but it also includes language that allows the Federal Reserve System to “explore” the possibility of introducing digital currency into the United States.

Critics are concerned that this would mean the end of physical cash and the beginning of Big Brother watching every financial transaction. The central bank would be able to track all transfers of funds, from buying a stick of gum to sending money to family and friends.

Feint of a Jab

Some proponents of the Executive Order claim that it does not implement digital currency or give the government control over it. However, the mere possibility of introducing a digital currency is disruptive and radical, and could change the face of the nation’s democracy forever.

Nations have risen and fallen based on their economic policies, and critics argue that introducing digital currency in America could have catastrophic consequences. The Federal Reserve System is just introducing the subject into public debate and weighing the options, according to Eswar Prasad, a Cornell University economics professor.

Don’t Be Distracted By Jabs

While we should be concerned about inflation, energy independence, and aggressor nations, the introduction of a digital currency is a power punch that should not be ignored. The White House’s Executive Order 14067 may seem like just a jab, but it could lead to the end of our democracy as we know it.

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