Looking Like A Central Bank Digital Currency

On today’s show we are talking about a new provision of the latest tax bill that passed the US Congress and is now before the Senate.

During the election campaign, President Trump said clearly that he did not favor a central bank digital currency. In fact he has made several statements in support of crypto currencies and his family is active in various crypto initiatives.

But it seems that the President may have accidentally created the underlying systems that in fact amount to a CBDC. Whether this is an accident or deliberate is hard to tell. But the effect on the long term freedom and privacy of the citizens of the US is the same.

The Federal Reserve Act explicitly prohibits ordinary citizens from having an account at the Fed. In order for a CBDC to be enacted in the US, it would require that aspect of the legislation to be modified. On today’s show I’m going to unveil the plumbing that is being created in the system that effectively amounts to a CBDC with direct government oversight.

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