Last updated on February 29th, 2024 at 03:12 pm
United States Congressman Warren Davidson has declared that Central Bank Digital Currencies (CBDCs) are an existential threat to Western civilization.
Yesterday, on Tuesday, February 20, Davidson posted on X that a bill to ban CBDCs and an amendment to the country’s appropriations law that will prohibit all federal funds from being used to develop, design, or deploy them must be made law.
The Representative noted that the Republicans in the US House Committee on Financial Services passed the CBDC ban bill, and it needs to be voted on by the full House before it goes through the final stage.
Central Bank Digital Currency (CBDC) is an existential threat to western civilization.@FinancialCmte passed a bill to ban them. Needs to get a vote by the House and survive final passage. We also have an amendment to appropriations that bans all federal funds from being used to…
— Warren Davidson 🇺🇸 (@WarrenDavidson) February 20, 2024
Rep. Warren Davidson’s post against the adoption of CBDCs. Source: X
Davidson has been a prominent critic of CBDCs ever since the introduction of the concept in the United States. In July 2023, the representative compared the US Federal Reserve’s efforts to develop CBDCs to developing the financial equivalent of the Death Star. He added that the CBDC could be used to control and manipulate the monetary system, transforming money into a weapon for coercion.
His comments were in response to a job posting by the Federal Reserve Bank of San Francisco for a “Senior Crypto Architect – Central Bank Digital Currency” whose role responsibilities included “implementing novel systems related to Central Bank Digital Currency”.
Besides the Ohio Representative, several other influential individuals are fighting against the establishment of CBDCs in the United States. One such individual is former US President Donald Trump. In his campaign speech in New Hampshire earlier in January 2024, Trump vowed never to permit the establishment, development, and use of CBDCs if reelected as President.
Trump expressed that the believed that using CBDCs would give the government total control over the nation’s money and grant them the ability to monitor transactions and seize funds without a person’s knowledge or permission.
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