A recent job posting has many Americans in a panic…
Yahoo Finance recently reported that “the Federal Reserve Bank of San Francisco is looking for software developers to help research and design a central bank digital currency (CBDC).”
The job listing was posted to LinkedIn for a “Senior Application Architect – Digital Currency.” And it pays up to $215,400 a year! Not bad for potentially stealing control of the money supply.
This was just one of three job postings. Also in the mix was a Lead Application Developer and a Senior Application Developer for digital currency.
Why is the San Fran Fed hiring these well paid positions? Well, let’s take a look at what we already know about the creation of a digital dollar, or CBDC – Central Bank Digital Currency, and it all makes a lot more sense.
The Backstory
On March 9th, 2022, the Biden Administration moved forward with a sweeping executive order directing multiple government agencies to produce a detailed plan to study the creation of them for the U.S.
The order requested that the attorney general, secretary of the Treasury, and chairman of the Federal Reserve provide the White House with a legislative proposal for a digital currency within 210 days of the order!
That order is coming up quickly!
What’s The Big Deal?
Why should you even care? After all, it’s just a digital version of the dollar we already use, right? You wish!
A digital dollar here in the US could be much worse than you think. In fact, a digital currency could give the government, the Federal Reserve, and/or the Big Banks significant control over our money’s supply and its use.
According to Newsweek…
“The development of a digital currency could present the
most dramatic expansion of federal power in history.”
As reported on by Forbes…
“Fed’s “Digital Dollar” Idea Has
Frightening Implications For Privacy And Freedom.”
And how about this one from The Hill…
“The ability to instantly track, catalog and scrutinize
every person’s transactions is a dystopian nightmare.”
The Dangers of A Digital Dollar
It’s pretty easy to come to the conclusion that this could be on our doorstep sooner than anyone expected. And the consequences of this actually being implemented could get even worse.
The unfortunate truth is, the Federal Reserve could use a digital dollar to create more digital dollars with a push of a button (potentially causing rapid inflation). They could distribute (or redistribute) those dollars at the drop of a hat.
If that’s not bad enough, a digital dollar could theoretically be used as a surveillance tool for banks, federal agencies and the Federal Reserve. They could easily…
- Track your purchases
- Control what you buy, and when you can buy it.
- Put limits on how much you can buy at a single time.
- Tie the use of your money to social issues like climate change or inclusion.
- And even seize or freeze your assets.
Just look at what’s already happening around the world, especially in China.
According to the Atlantic Council,…
“114 countries, representing over 95 percent of global GDP, are exploring a CBDC. And 11 countries have fully launched a digital currency, and China’s pilot, which reaches 260 million people, is set to expand to most of the country in 2023.”
In the United Kingdom, news of Digital Pound just all but confirmed the future for our friends across the pond.
According to the BBC, “A state-backed digital pound is likely to be launched later this decade, according to the Treasury and the Bank of England. Both institutions want to ensure the public has access to safe money that is easy to use in the digital age.”
Conclusion
The recent job posting by the Federal Reserve Bank of San Francisco for software developers to research and design a central bank digital currency (CBDC) is rightfully causing concern among many people, especially those who favor liberty and privacy.
Mixed in with the Biden administration’s executive order directing government agencies to study the creation of a digital currency for the US, and countries around the world adopting these CBDCs at an astounding rate, it’s easy to see that a digital dollar could become a reality sooner than you might like.
Make no doubt about it, the implications of a digital dollar are significant, potentially giving the government, Federal Reserve, and Big Banks increased control over our money’s supply and its use. Even worse, the potential for it to be used as a surveillance tool.
One thing is for sure, the time is now to figure out what you can do to protect yourself, your family, and your way of life.
