Recently, the House Financial Services Committee approved a bill that would prevent the government from spying on your finances. That bill will soon go to the House floor for a full vote. This bill has a good chance of passing since it is sponsored by the Republican House Majority Whip. Unwilling to let their dreams of a financial surveillance state die, however, some are fighting back.

Today, we’ll share some of the expert testimony from that committee hearing. But first, take a moment to fax Congress and demand they VOTE YES on the CBDC Anti-Surveillance State Act and all other measures that would BAN Joe Biden’s CBDC plans! — Your Faith & Liberty team

On September 18, the House Financial Services Subcommittee held hearings on Joe Biden’s plans to implement a financial surveillance tool known as a CBDC or Central Bank Digital Currency. If implemented, a CBDC would make the federal government your direct bank, able to spy on and control every cent you own, make, donate, or spend. Such a currency is already in use in Communist China.

“This appetite for financial surveillance may be gaining a stronghold, unfortunately, right here at home,” said Rep. Tom Emmer (R-MN), who added that “the Biden Administration is not only itching to create a CBDC, but they are willing to trade American’s right to financial privacy for a surveillance-style central bank digital currency.”

“We’re not going to let this happen,” Rep. Emmer continued. “My bill ensures the United States digital currency policy is in the hands of the American people — not the Administrative State — so that it reflects our American values of privacy, individual sovereignty, and free market competitiveness.”

Section 16A of Rep. Emmer’s bill is a direct strike against the Biden administration’s recent habit of bypassing Congress to force unconstitutional measures on the American people, stating, “The Board of Governors of the Federal Reserve System may not, absent Congressional authorization, issue a central bank digital currency.”

Several expert witnesses noted that Biden’s CBDC plans would eradicate Fourth Amendment privacy measures.

The Fourth Amendment of the U.S. Constitution requires the government to show cause and receive a warrant to search and surveil citizens — including their bank accounts. However, since a CBDC makes the federal government the citizen’s direct banker, the government would no longer need a warrant to spy on citizens’ bank accounts. The federal government would be the bank, and therefore would see — and potentially control — every single cent earned, donated, or spent.

Testimony by Christina Parajon Skinner of University of Pennsylvania’s Wharton School warned of potential dangers that CBDCs create for a Communist China-style control of citizens.

“Introducing CBDC is likely to have certain costs to individual economic liberty by providing the State (i.e., the Federal government) with more tools — and hence greater temptation — to establish command-and-control style public policy,” Skinner said.

During the committee hearing, Rep. Emmer openly castigated CBDCs as “a tool the Communists have," before citing how the CCP uses that tool to ensure absolute control over their citizens’ lives.

Rep. Emmer is the House Majority Whip, which means he is part of the Republican leadership team charged with wrangling votes. This is excellent news for our cause, as it indicates Republican leadership is taking this fight against Biden’s financial surveillance scheme seriously.

While Emmer’s bill now has 60 co-signers, some Democrats are not giving up their financial surveillance scheme without a fight. House Financial Services Subcommittee ranking member Stephen Lynch (D-MA) announced he would be creating a congressional “Digital Dollar Caucus” to support Biden’s CBDC financial surveillance scheme.

The Biden administration has already tipped its hand. Last year, the administration demanded access to any bank account that spent or received just 600 dollars per year. The administration backed down after both citizens and Congress railed against the tyrannical measure.

Earlier this year, Biden’s IRS ordered ticket resale sites to hand over information on individuals who resell their concert or sport tickets. So now if your daughter gets grounded and is forced to sell her teenybopper concert tickets, Joe Biden’s IRS wants a report on how much she sold them for. So much for going after “the rich”!

Despite Rep. Lynch’s protests, the Biden administration has proven repeatedly what our Founders understood all too well — left unchecked, governments will chip away at the God-given liberties and natural law rights endowed by our Creator.

CBDCs are a direct violation of the Fourth Amendment protections against spying bureaucrats and tyrannical leaders seeking to force their will on freedom-loving Americans. We cannot allow Joe Biden, or anyone else, to impose a CCP-style financial surveillance state on us.

Please, take a moment right now and put both Republicans and Democrats on notice — the American people WILL NOT TOLERATE CBDC plans. Demand they VOTE YES on HR 1122, HR 5403, and all other bills that BAN the government’s financial surveillance plans.

Please also help fund our work on Capitol Hill.

Every donation made today will be DOUBLED IN IMPACT by a special Challenge Grant. Please give generously today.

Peggy Nienaber, Vice President
Mat Staver, Chairman
Rev. Gregory Cox, Senior Pastor

P.S. You can also add your name to our petition to Congress by selecting here.

Sources:

“Amendment in the Nature of a Substitute to H.R. 5403.” Congressman Tom Emmer, September 18, 2023. https://emmer.house.gov/_cache/files/0/4/04d8b0b2-dcd2-48ab-b405-55bf9f40b37f/88BAFED98BF71E481C629664D5D400C7.emmer-011-xml.pdf.

‌“Emmer Reintroduces CBDC Anti-Surveillance State Act.” Congressman Tom Emmer, September 12, 2023. https://emmer.house.gov/press-releases?ID=AF7974C8-BAD5-4082-9E77-29A6D7EA5915.

“Emmer’s CBDC Anti-Surveillance State Act Passes Financial Services Committee.” Congressman Tom Emmer, September 20, 2023. https://emmer.house.gov/2023/9/emmer-s-cbdc-anti-surveillance-state-act-passes-financial-services-committee.

“Executive Order on Ensuring Responsible Development of Digital Assets.” The White House, March 9, 2022. Whitehouse.gov/briefing-room/presidential-actions/2022/03/09/executive-order-on-ensuring-responsible-development-of-digital-assets/.

Helms, Kevin. “US House Committee Passes CBDC Anti-Surveillance State Act with Support of 60 Congress Members.” Bitcoin News, September 22, 2023. https://news.bitcoin.com/us-house-committee-passes-cbdc-anti-surveillance-state-act-with-support-of-60-congress-members/.

‌“House Financial Services Comm. Witnesses Air Multiple Anti-CBDC Arguments.” Cointelegraph, September 14, 2023. https://cointelegraph.com/news/house-financial-services-committee-witnesses-air-multiple-anti-cbdc-arguments.

“Overview of 2023 1099-K Regulations.” StubHub. Accessed September 28, 2023. https://support.stubhub.com/en/support/solutions/articles/61000276811-overview-of-2022-1099-k-regulations.