United States – CBDC under Federal Reserve

June 16, 2023

United States

CBDC under

Federal Reserve

Padmini Arhant

Update June 16, 2023 : The misconception and misinformation conforming to propaganda from those hired for the purpose and their recruiters are enlightened with reality. 

The notion super wealthy are regarded evil is the perception of those evading acknowledgement of irrefutable events and abundantly substantiated revelations.

Furthermore, rich, wealthy and affluent status are relative and decisively clarify the means rather than than the end justifying the path towards attainment. Although, the latter often justified amongst those with little or no importance to ethics, laws and consequences affecting several others in their quest for treasure cove.

The thoughtlessness accompanied by deliberate desire to submerge in quick-rich-scheme and superlative financial position anyhow and somehow entirely for personal gains and benefit are indiscriminate in inflicting pain and injustice on whomsoever with betrayal of trust instrumental in the course.

Paradoxically, those who achieve anything through hard work maintaining propriety and uncompromising ethical values albeit unconventional nevertheless are unparalleled in their possession of material and / or intellect with proven ability to rise within the confines of societal behavior.

Let’s face it – in the height of sub-prime mortgage and hedge fund fiasco, who footed the enormous bailout of the big banks and giant insurance industry, the sinking titanic in 2008 – 2009?

It was not the Rothschild, Rockefeller or the Royals in Britain or elsewhere who came forward to rescue the so-called Too Big To Fail financial sector despite all or any of them having massive holdings in the finance industry.

Who became the fair game and paid for Wall Street’s  willful unscrupulous gambling that led the housing market to nosedive with foreclosures and severe mortgage crisis again suffered by ordinary citizens resulting in global economic recession?

It was the so-called small people bailing out the magnified big guys in the SOS from financial ship wreck.

It was none other than the middle class and the average men and women as regular tax payers thrusted the coast guard duty to save the drowning super wealthy ranked the top 1% in the fortune empire.

Hence pitching incompatible characterizations such as all those who are rich are branded evil is futile attempt to defend the indefensible.

Even among the white collar crimes, it so happens not all are measured as equal with the small fish in the ocean trapped and removed leaving behind the big sharks to prey on the school of fish depleting marine resources and oceanic reserves causing more toxicity in the environment.

The mere attribution of anyone as anything only serve arguments when actuality glaring at those decline to see the obvious and instead shield the shadow power.

The question is at what and whose cost?

On the contemporary CBDC – President Biden administration’s executive order (EO) 14067 –

What was the urgency for the Federal Reserve to approach the back alley – the synonym for executive order in March 2022 ignoring the legislative body allowing the CBDC discussion and debate in the people’s House of Congress and the United States Senate?

Additionally, not barring the media hosting the topic pausing the smoke screen tabloid gossip for a change.

Anything harmless and intended for greater good never fear the straight long road leading to desirable destination unless otherwise.

There is a strong reminder to leave the past behind in life and live in the present emphasizing the present moment is a gift of life from Almighty God, so thank the lord and enjoy the present.

Absolutely.

Agreed about living in the present. That’s what the normal human mind engage and focus on what needs to be done now.

Unfortunately, the past repeat itself in some or other form of calamity whether terrorism in 2001, economic crises in 2008 or the COVID19 in 2020 -2022 and simply refuse to stay put in the past even when the human spirit do not want to be bothered with more or worse than before events in life.

What does one do when catastrophe is life and vice versa surfacing periodically in the least expected time?

Should a permanent remedy be sought ending the episodes never to reappear so one can move on with normal life? 

Or

Forget anything such as COVID19 or economic debacle happened at all even though that is contrary to the gift that keeps on giving without being asked for unheeding the explicit enough to the supply.

In the same context – resting past in the past is the recommendation, then,

Would the same apply to endless reference to holocaust, the previous millennium event nearing centennial anniversary in the next quarter century that choose to remain oblivious to similar or extreme human rights violation in the present against others?

Like everything else, human tragedies and suffering are never treated the same and equal with prejudice and preference presiding over on;

All for me and none for you.

What is good for us ain’t granted the same way to you. 

The centricity premised on convenient and inconvenient recognition is ceaseless and resistant to positive dynamics.

Padmini Arhant 

PadminiArhant.com

Prakrithi.PadminiArhant.com 

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Courtesy – Steve Forbes on CBDC – Thank you. 

The government in power pass laws, introduce new rules or eliminate old ones and alternatively toughen or relax regulations depending on the political party heeding the forces in charge of economy, political and social situation.

However, the government’s extraordinary measure or startling approach to impose anything related to money, finance and monetary dealings such as CBDC  deserve not only citizens’ interest but also their attention to learn, familiarize and pose necessary questions for proper understanding of the issue and its implications on basic to normal existence.

In the twenty first century, the government interference in people’s lives has alarmingly and disproportionately increased compared to the tail end of previous century.

The scenario might be considered or argued as the one prevalent in authoritarian style of governance discounting such possibility in a democracy and that too Information Age.

Although technology is a major boon to humanity, the use or rather misuse of technology beginning with authority in power and other players against ordinary citizens cannot be under estimated at any point in time.

The pertinent problem related to this topic is excess governmental power that is always a threat to individual civil liberty, economic opportunity and fair justice to a great extent experienced in this century more than the earlier one.

Under the guise of purging terrorism, the state power terrorizing people with various legislations like Patriot Act in the Bush – Cheney term continued under Obama – Biden administration translated into state terror abusing taxpayer funded federal agencies like IRS against the Republican Tea Party political members in 2009 – 2016.

Not to mention the FBI, CIA and DOJ role in pursuing political opponents or anyone deemed the enemy of the political power for difference of opinion and not submitting to state order for compliance and obeisance despite the unlawful undemocratic imposition.

Likewise, Foreign Intelligence Surveillance Act (FISA) initially meant for terror suspects overseas that was later extended to American citizens with government authorized assassination of U.S. citizens in American soil without due process under former President Barack Obama administration.

Then under the same administration, the draconian National Defense Authorization Act (NDAA) vigorously pursuing American citizens subject to military tribunal as opposed to civilian court of law were sneaked into the government exertion of authority on American citizens at home and abroad.

The government extra judicial executions from the executive branch in particular made no distinction in the arbitrary abuse of power witnessed in the politically motivated investigation of the 4 star Lieutenant General Michael Flynn and several others on alleged Russian collusion wasting taxpayer money.

In light of the above mentioned trajectory,

CBDC – Central Bank Digital Currency directly under the private Federal Reserve who are accountable to none is disturbing to begin with.

The Federal Reserve Chairman is selected among selective members in a close network who is then presented as the executive branch or the White House nominee to be endorsed and confirmed by the United States Senate in adherence to the formality.

Federal Reserve, the private entity projected as the government body in itself is gross misrepresentation. The Federal Reserve assuming the role as United States monetary authority framing monetary policy and guiding the economy in adjusting inflation besides setting interest rates viz. the prime rate affecting lending and borrowing are also in control of printing money.

There are those in politics and super wealthy club like the former Secretary of State Henry Kissinger and member of Rothschild family asserted the one who controls money control the world.

There is no doubt they do in this regard along with counterpart tech giant owner Bill Gates and alike continue to dictate and dominate daily life and existence of human race ranging from technology, food, health to communications…transforming the once reasonably free world into inescapable prison planet.

The transition has been in the making for a while which they successfully tried and tested through manufactured virus in Wuhan lab with funding from various sources including Bill and Melinda Gates foundation and United States government health agency viz. NIAID headed by the former director Dr. Anthony Fauci.

The bizarre experiment unleashed COVID19 evolving into global pandemic holding people hostage to authorities’ demands and diktat.

The decade earlier, they punished citizens worldwide with global economic collapse in the sub-prime mortgage and hedge fund disaster in 2007 -2008 bringing down economies while behemoths in the financial sector were rewarded handsomely at the expense of vast majority of population in the United States and world over.

As for the Federal Reserve, the entity is protected and run like a family business with like-minded members and origin exercising absolute authority over Congress and the people elected government.

The Federal Reserve is answerable to none and those who dare to question or challenge Federal Reserve activities regardless of extraordinary scandals in the amount excess of trillion dollars of people’s money in the unaccounted $9 trillion off-balance sheet activities noted in the report during former Congressman Alan Grayson’s Congressional inquiry more than a decade ago in 2010 -2011 doubled if not tripled in the present time with opacity prolonged as the norm and entitlement.

Never mind the $9 trillion since then accumulating in sovereign debt burdening the present and future generations into perpetual debt slavery in the United States and citizens anywhere in the world.

The scandal involving Federal Reserve on $9 trillion in 2010 was subject to the Congressional hearing at the persistence of rare courageous members like the former democrat Congress member Alan Grayson from 8th and subsequently 9th Congressional district from Florida alongside yet another staunch critic of the Federal Reserve’s lack of transparency on money matter – the Congressman and the libertarian former Presidential candidate from Texas Dr. Ron Paul.

Not surprisingly, the Congressional inquiry against the Federal Reserve on the scandal was unwelcome and categorically rebutted by then Federal Reserve Chairman Ben Bernanke with possible retaliation against Congress and United States government.

The visibly perturbed then Federal Reserve Chairman Ben Bernanke’s reaction and response to the straightforward factual questions from these two Congressional members on the right and left led into speculations among observers of these developments on potential coup against Congress from the mighty Federal Reserve.

As expected, the democrat Congressman Alan Grayson was not spared and forced to lose his 8th Congressional district seat in Florida in 2010 mid-term election for his commitment towards his constituents and the nation at large.

The Congressman apparently crossed the line by performing his constitutional duty in seeking explanation on the colossal multi-trillion dollar evaporating in thin air.

The Congressional member receiving threats and endangerment to life were not ruled out either warning those in the effort to drain the swamp and institute checks and balances against the deep state on behalf of the people of the United States.

In the backdrop of don’t ask don’t tell policy from the Federal Reserve, the established rule is an exception to the rule of law otherwise applicable to mainstream population.

The incumbent President Joe Biden signed an executive order (EO) 14067 on March 9, 2022 on digital assets with the creation of Central Bank Digital Currency (CBDC) tasking the Federal Reserve on the proposed monetary design.

Now the real problem is CBDC – Is Central Bank Digital Currency replacing the current monetary unit – the United States dollar?

The disposal of cash economy is already in practice and was indulged by Indian government in 2016 through controversial demonetization delivering  economically destructive outcome for overwhelming Indian population. Their savings held in cash value in the specific denomination Rs. 500 and Rs.1,000 targeted by the government wiped out instantaneously causing distress and despair.

In Europe, the euro ascendency rendered local currency worthless or invalid for member nations within union. The transition was not without loss and liability for average people engaged in cash transactions at that time.

Regardless, the CBDC as fiat currency upon circulation and use would unequivocally grant the government and the private institution Federal Reserve unbridled dominance over citizens’ lives and personal decision-making becoming the thing of the past.

The CBDC critically undermining individual liberty, freedom of choice and pursuit of happiness not only violate human rights but also hand over individual life as the government affair.

Notwithstanding the political media in this bargain a casualty as well in their inability to promote United States as free society with the Federal Reserve and the government combined managing every citizen’s life under their watchful eye and pertinently the government in control of citizen’s wallet.

The pattern similar to that of China and others on the path of digital currency implementation leading to 24/7 surveillance and government discretional power against citizens in the country.

The CBDC portend blatant assault on democracy, individual rights and free will in financial and all things relevant to mankind in the absence of accountability on those reining control over human destiny.

The citizens’ cognizance and comprehension of the impending CBDC is necessary to avert imminent displacement of individual independence with state run and operated mechanism.

The prominent voices in the business world such as the former Presidential candidate Steve Forbes expressing deep concern over CBDC and impact on everyday life is shared above.

The public awareness and immediate action to preserve freedom, civil liberty and fundamental rights to accept or reject concepts and systems for better or worse is not an option rather a necessity.

Padmini Arhant 

PadminiArhant.com

Prakrithi.PadminiArhsnt.com

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