Shocking History You Must Know

Aug 28, 2023

Currency experts have issued a startling warning about Joe Biden’s Executive Order 14067 — it could allow the feds to seize YOUR assets to pay off Congress’ skyrocketing debt.

Central Bank Digital Currency (CBDC) allows central bankers to instantly seize the assets of law-abiding Americans.

If that sounds outlandish, consider this — the U.S. government already did this once before. Read on to learn the history, and why some bureaucrats in Washington believe YOUR money belongs to THEM … and what WE can do to keep their greedy hands out of our bank accounts. —Mat

Don’t let Joe Biden seize YOUR assets to pay off Congress’ debt.  Demand Congress VOTE YES on HR 1122, HR 3712, and S 887!

Last fall, currency experts Natalie Smolenski and David Held released a policy white paper, “Why the U.S. Should Reject Central Bank Digital Currencies (CBDCs).” The paper identifies several serious concerns about Joe Biden’s Executive Order 14067 and his plan to replace cold hard American cash with digital programmable money.

“Once CBDCs are implemented, there is nothing technically or legally preventing central banks from imposing direct haircuts on, or repossessions of, anyone’s cash holdings, anywhere in the world,” according to Smolenski and Held.

“Central banks could directly confiscate private digital cash to pay down their sovereign debt, to discourage the use of digital cash, to decrease the money supply or for any other reason,” (emphasis added). The authors note that such abilities are “built into the political and technical architectures of CBDCs.”

Keep in mind, the U.S. government already seized assets of law-abiding Americans en masse once before. In 1933, President Franklin Delanor Roosevelt issued Executive Order 6102, which forced every American to turn their gold over to the U.S. government.

Congress spent too much, and the Federal Reserve had debts to pay. Every American was forced to cough up their gold, accepting a paper note backed by little more than the “full faith and credit of the U.S. government” in return. Any person who refused to give up their gold faced 10,000 dollars in fines (equivalent to 226,562 dollars today) and up to 10 years in prison.

When individuals and companies refused to give up their hard-earned gold, President Roosevelt issued yet more asset-seizure executive orders, and directed the U.S. Department of Justice to prosecute and imprison the citizens who simply wanted to retain their savings.

An ever-greedy Congress codified those outrageous executive orders into law, passing the Gold Reserve Act of 1934. That law allowed the president to change the gold content of the U.S. dollar — and therefore the dollar’s value — by proclamation alone.

And the arrests began ...

  • Frederick Barber Campbell tried to withdraw his 5,000 troy ounces of gold from his account at Chase National Bank. Chase refused. Instead of Campbell getting his gold back, the Department of Justice prosecuted him for failing to surrender his gold willingly. While Campbell did not serve jail time, the U.S. government seized every bit of the 5,000 troy ounces of Campbell’s gold.
  • Gus Farber, a diamond and jewelry merchant from San Francisco, was prosecuted for selling 13 of his own 20-dollar gold coins without a license.
  • Louis Ruffino, a miner in California’s gold country, was convicted of possessing 78 ounces of gold. He was sentenced to six months in jail, paid a fine equivalent of 11,000 in today’s dollars, and the government seized all of Ruffino’s 78 ounces.
  • David Baraban and his son Jacob owned a company that bought broken gold jewelry. Government agents raided the Baraban’s home, and upon finding a cigar box full of broken jewelry, the father-son duo was prosecuted for conspiracy to defraud the United States government.

Many Americans began burying their gold and valuables in their backyards rather than risk banks giving the money to Uncle Sam. Many more arrests and seizures occurred, and in fact, continued all the way until 1974 when then-President Gerald Ford signed a bill “allowing” Americans to own physical gold once again.

As the great economist Frederick Hayek and so many others aptly noted, a populace is not free if they do not control the fruits of their labor. In Baraban’s case, the government’s position cannot be understated — the men in Washington believed that the fruits of Baraban’s labors belonged to the government. When citizens like Baraban and others tried to exercise their rights over their own property, the U.S. government stole that property.

With CBDCs, there is no need at all for another tyrannical despot manning the Oval Office to send goons with guns. Instead, that tyrant need only click a button on a computer screen, and the assets are instantly seized.

And no longer would a president need to make a “proclamation” of what the dollar is worth. The Fed would simply click a few more buttons, making your hard-earned money worth more or less, depending on their desires … or perhaps even just because of who you are.

China already does this. Joe Biden, a big fan of FDR, seems bent on following the same route. As of today’s writing, the U.S. Treasury is in debt 32.7 TRILLION dollars. And who owns much of the debt debacle Joe Biden and his pals have created since Biden was first elected to the Senate 50 years ago in 1973? China!

Over the last 20 years, the Chinese Communist Party has bought more of the U.S. debt than any other country in the world. That might explain why Joe Biden is so keen to adopt a financial scheme already used by the CCP.

The Bible warns that the borrower is always slave to the lender (see Prov. 22:7). The only question is, how long until China calls its loans due?

Three pieces of legislation stand in the way of Joe Biden’s ability to seize control of your finances. To salvage whatever is left of America’s liberty dream, we must, at all costs, protect the fruits of our labor — even from, and perhaps especially from, our own government.

Please also consider helping fund our crucial legal work defending everyday Americans against a government gone mad. Every donation made today will be DOUBLED IN IMPACT by a special Challenge Grant. Please give generously today.

Mat Staver
Founder and Chairman
Liberty Counsel


Don’t let Joe Biden seize YOUR assets to pay off Congress’ debt. Demand Congress VOTE YES on HR 1122, HR 3712, and S 887! And sign the petition.

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“Ensuring Responsible Development of Digital Assets.” Federal Register, March 14, 2022.

“Executive Order 6102.” Wikipedia. Wikimedia Foundation, November 30, 2019.

Smolenski, Natalie, and Dan Held. “The Dangerous Implications of Central Bank Digital Currencies.” Bitcoin Magazine, October 3, 2022.

U.S. National Debt Clock: Real Time. Accessed August 25, 2023.

“Which Countries Own the Most US Debt?” USAFacts, April 4, 2023.