The banking cartels that run the world have been trying to revolutionize countries by implementing central bank digital currencies (CBDC). Forcing a CBDC on a country would be the final and ultimate implementation of communist totalitarianism. Cash would be eliminated and replaced with electronic-only funds that are programmable, surveillable, and centrally controlled. People have good reason to fear a CBDC but the good news is that the United States is the first country on the verge of completely banning the Federal Reserve from issuing one.

There are currently 90 countries around the world that are either exploring CBDC or in the process of implementing one. Kuwait eliminated cash completely in October and will no longer allow people to access their own bank accounts until they submit their biometric data. Chase Bank, Visa, and other financial institutions were only too happy to help the Kuwaiti government implement this totalitarian control system on its people.

Sen. Ted Cruz (R-TX) authored the “CBDC Anti-Surveillance State Act” in 2023. The House version is HR 5403 and is sponsored by Rep. Tom Emmer (R-MN). The bill would amend the Federal Reserve Act and ban the Fed from issuing CBDCs. This would effectively prevent the government from weaponizing the financial system against the American people. It would also protect every American’s right to financial privacy.

More specifically the bill prohibits the Fed from offering products or services directly to individuals or maintaining accounts on their behalf. It also prohibits the Federal Reserve from issuing a CBDC or anything that functions as a CBDC under any other name.

Amazingly, the bill passed the House by a vote of 216-192, with three Democrats joining Republicans and 22 members not voting. The bill has been forwarded to the Senate and read into the Committee on Banking, Housing, and Urban Affairs. The bill still needs to clear the Senate but that could easily happen in the new year. Republicans could take as many as seven new Senate seats in the election.

Donald Trump has also vowed to ensure that a CBDC never happens in America. He told the crowd at a rally in New Hampshire last week that he would “never allow the creation of a central bank digital currency.” The crowd roared with approval.

He added that a CBDC “would give a federal government, our federal government, absolute control over your money.”

That’s true. If cash money is replaced and all transactions become digital through a CBDC, the government effectively has total control over your life. ATM machines and local bank branches would be a thing of the past. You can’t deposit or write checks. If you want to pay cash for a new upper receiver for your gunsmithing hobby, which is none of the government’s business, that will no longer be possible.

The reason why communism has always failed is because of the absence of a ledger that records every deposit and debit. A cash black market always develops. A CBDC would be the ultimate implementation of a ledger in which every transaction that you make is recorded. Unless you want to switch to a black-market barter system, you should be very afraid of a CBDC.

The government would be able to switch your funds on or off at a whim. If you post something the government doesn’t like on social media, you could find yourself immediately cut off from being able to buy groceries, a plane ticket, or anything else. The fact that more than 90 countries are rushing to try to implement a CBDC is very concerning—but at least there’s potential hope on the way for Americans.