On Monday in the middle of the lunch hour, the entire electrical grid of two European countries crashed, leaving nearly 50 million people stuck in the dark. Not only did the lights go out, but the trains stopped, gas pumps stopped working, cell phone towers went down, and perhaps most detrimentally, ATM and credit card processing machines went dark.

If you lived in Spain or Portugal that Monday and you didn’t have cash in your wallet, you were stuck. You couldn’t use public transportation or call a rideshare to get home. Without cash, getting a hotel room to ride out the blackout or even grabbing a bite to eat to tide you over for the very long walk home were impossible.

The massive grid failure these Iberian Peninsula countries experienced that day proved, once and for all, that cash is king, and that is exactly why we cannot allow the federal government to eliminate cash in favor of a Central Bank Digital Currency (CBDC).

Don’t let Congress get rid of cash money! Fax the Senate to demand members ban CBDCs in America, and receive a copy of our latest book, Marxist Money: Central Bank Currencies and the Theft of Freedom.

Even though President Trump issued an executive order preventing the Federal Reserve from issuing a CBDC here in the U.S., that order will only last as long as Trump’s presidency. Congress MUST pass legislation NOW, while Republicans have control of Congress, to prevent globalists from eliminating cold hard cash.

There is a global plot afoot to eliminate cold hard cash and replace it with a digital programmable cryptocurrency that allows the government to spy on every single financial transaction you make, whether it’s paying your babysitter or tithing to your church. 

And because these digital dollars are programmable, the government can “reward” favored individuals by making their dollars more valuable than an “disfavored” individual.  

Those who support “green initiatives,” for instance, could be rewarded with beneficial interest rates, allowing their bank accounts to grow. In contrast, those who practice disfavored actions, say, supporting a church the government doesn’t like, can be hit with negative interest rates, causing their bank accounts to shrink. 

Many countries in the European Union, including Netherlands and Sweden, are already planning initiatives like negative interest rates to prevent people from saving money. 

As you likely know, it is always wise to save for a rainy day. But some governments, it appears, don’t want people to be self sufficient. Without savings, after all, people will be forced to submit to government assistance — and control over their lives.  

Ban CBDCs!

Other globalists in the U.S. and in Europe have long complained about the privacy that cash offers. “We don’t know who’s using a $100 bill today and we don’t know who’s using a 1,000-peso bill today,” said the general manager of the Bank for International Settlements, Agustín Carstens. The solution to that “problem,” according to Carstens, is a CBDC that will allow the central bank to “have absolute control on the rules and regulations that will determine the use of that [CBDC] ... and also we will have the technology to enforce that.”

Chinese Communist Party member turned International Monetary Fund Deputy Managing Director Bo Li recently admitted that a “CBDC can allow government agencies and private sector players to program … targeted policy functions. By programming a CBDC, money can be precisely targeted for what people can own and what [people can do].”

With cash, you can still buy a Big Gulp soda if you wish. But with a CBDC, the government can simply refuse to allow you to buy one. China already does this to citizens the government feels are unhealthy simply by programming what they are allowed to buy with their own money.  

But Spain and Portugal’s power outage proves a much simpler point 0— electronic funds are just as vulnerable as the power grids from which they operate. Whether there is a terror attack on power grids or a massive storm that shuts off power for millions, the only way to buy food, gas, or medical supplies is with cold, hard, private cash. 

We cannot simply hope that future presidents will continue President Trump’s executive order forbidding the use of CBDCs during his term. In fact, despite Trump’s executive order, the Federal Reserve is testing cross-border digital payments as I write. 

Republicans hold the majority in Congress. But that may change with the midterms, so we must do all we can NOW to ensure Congress passes legislation to forever ban this foolhardy attempt to eliminate cash. 

Fax the Senate to demand members BAN CBDCs in America, and receive a copy of our latest book, “Marxist Money: Central Bank Currencies and the Theft of Freedom.”

Mat Staver
Founder and Chairman
Liberty Counsel

 
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SOURCES:  

Anthony, Nicholas, and Norbert Michel. “Central Bank Digital Currency: Assessing the Risks and Dispelling the Myths.” Cato Institute, April 4, 2023. Cato.org/policy-analysis/central-bank-digital-currency#risks-cannot-be-ignored.  

Michel, Norbert. “There Is No Good Version of a Central Bank Digital Currency.” Forbes, April 23, 2024. Forbes.com/sites/digital-assets/2024/04/23/there-is-no-good-version-of-a-central-bank-digital-currency/.