Tuesday, October 6, 2020

Is Fedcoin part of the stimulus negotiations?

I just came across an article by Dr. Ron Paul, "Fedcoin: A new scheme for tyranny and poverty"

In it Ron Paul claims that the plan for 'Fedcoin' was initially included in the first coronavirus spending bill. Fortunately, it was dropped. 

The question is, is 'Fedcoin' part of Pelosi's newest, greatest stimulus package? And, why neither CNN nor Fox News even mention that little nugget? Something tells me that that would not be a popular idea. The idea that the Feds would know what we spend every single digital penny on is terrifying. Even though, apparently, that would be the price we would have to pay for the 'universal basic income'.

"Fedcoin would not magically increase the number of available goods and services. What it would do is drive up prices. The damage this would do to middle- and lower-income Americans would dwarf any benefit they receive from their monthly “gift” from the Fed" - writes Mr Paul.

He also adds - "Fedcoin poses a great threat to privacy. The Federal Reserve could know when fedcoin is used, who is using it, and what they use it for. This information could be shared with government agencies, such as the FBI or IRS."

The tyrany of the "well meaning" Progressives is coming faster then we thought.