With the rising threat of CBDCs, a constitutional amendment to secure using cash as a form of payment sounds very proactive.
One country in Europe recently amended its constitution to secure that right for its people.
In fear of a Digital Euro, Slovakia reportedly secured the right to use cash as a payment form in its constitution.
https://twitter.com/backtolife_2023/status/1671617842288918529
“In Slovakia, the right to pay for goods and services with cash has been enshrined in the constitution. This is to prevent a ‘digital euro’ from becoming binding in the future,” Paul Kikos wrote.
“The new amendment, passed last week with the support of 111 MEPs, was tabled by the Identity and Democracy (Sme Rodina) party. The change is intended to legally securitize physical payment and reject a binding digital euro,” he added.
https://twitter.com/PKikos/status/1671489572843442176
Euractiv reports (translated):
The new amendment, passed last week with the support of 111 MEPs, was tabled by the Identity and Democracy (Sme Rodina) party. The change is intended to legally secure physical payment and reject a binding digital euro.
“It is very important that […] in the future we can defend ourselves against any orders from outside saying that there can only be the digital euro and no other payment options,” said MP Miloš Svrček, one of the drafters of the law , during a parliamentary debate.
The EU Commission’s proposal for the digital euro is expected for June 28th. Similar to cryptocurrencies, the digital euro could be used for digital payments, but would be controlled by the European Central Bank. However, both institutions emphasize that it is only a supplement and not a replacement for cash.
“It may initially be sold as an alternative, but little by little it will turn out that it can only be exclusive,” Liberal MP Marián Viskupič said of the plans for the digital euro. He warned that this would lead to “lifelong surveillance” by the ECB, calling it a “social engineer’s dream”. Far-right MPs echoed threats that the digital euro would entail a “total loss of privacy”.
#Eurozone member #Slovakia adds right to #pay with #cash to its #constitution. https://t.co/fWyc6pw7z4
— Bitcoin.com News (@BTCTN) June 21, 2023
The Coin Republic noted:
The introduction of a central bank digital currency (CBDC) or digital Euro is something that the European Union has been researching for some time. Recent research conducted by analysts for the parliament referred to the problem as a “solution looking for a problem” but encouraged the EU to be ready to explore the idea further in the future.
The idea that a digital euro would be totally centralized and allow one government agency to manage transactions with it is one of the main issues of contention in the prospective development and implementation of such a currency. Some experts think that this poses an inherent threat to individual privacy.
WLTReport noted Tuesday that the IMF is pursuing a global central bank digital currency (CBDC).
It's no secret that the Federal Reserve wants to incorporate a CBDC in the United States, which is a critical step toward digital slavery.
The Federal Reserve announced in March the launch of its FedNow Service to “offer a modern instant payment solution.”
Financial institutions will begin using the service in July.
CBDCs won’t be too far behind.
“With the launch drawing near, we urge financial institutions and their industry partners to move full steam ahead with preparations to join the FedNow Service,” said Ken Montgomery, first vice president of the Federal Reserve Bank of Boston and FedNow program executive.
@federalreserve @frbservices announce July launch for the FedNow Service: https://t.co/a7kPqxkS7Q
— Federal Reserve (@federalreserve) March 15, 2023
The FedNow Service provides a significant step towards the full-fledged implementation of a CBDC.
*FEDNOW PAYMENT SERVICE WILL LAUNCH IN JULY, CENTRAL BANK SAYS
Is this CBDC
— zerohedge (@zerohedge) March 15, 2023
Jerome Powell and the Fed just announced that the FedNow Service will start operating in July pic.twitter.com/xKf4coZKE5
— Evan (@StockMKTNewz) March 15, 2023
The instant payments service is a step toward the eventual rollout of a CBDC.
With a CBDC, citizens lose 100% of their financial freedom to the government and central bank.
The institution of a digitalized, totalitarian slave-state will be complete.
Chair of the Federal Reserve Jerome H. Powell said, “Rapid changes are taking place in the global monetary system that may affect the international role of the dollar.”
A U.S. central bank digital currency is being examined to “help the U.S. Dollar’s international standing.”
WATCH:
NEW - Powell: "Rapid changes are taking place in the global monetary system that may affect the international role of the dollar."
A US central bank digital currency is being examined to "help the US dollar's international standing." pic.twitter.com/htP6r1brNz
— Disclose.tv (@disclosetv) June 17, 2022
Read the full Federal Reserve press release:
CHICAGO – The Federal Reserve announced that the FedNow Service will start operating in July and provided details on preparations for launch.
The first week of April, the Federal Reserve will begin the formal certification of participants for launch of the service. Early adopters will complete a customer testing and certification program, informed by feedback from the FedNow Pilot Program, to prepare for sending live transactions through the system.
Certification encompasses a comprehensive testing curriculum with defined expectations for operational readiness and network experience. In June, the Federal Reserve and certified participants will conduct production validation activities to confirm readiness for the July launch.
ADVERTISEMENT“We couldn’t be more excited about the forthcoming FedNow launch, which will enable every participating financial institution, the smallest to the largest and from all corners of the country, to offer a modern instant payment solution,” said Ken Montgomery, first vice president of the Federal Reserve Bank of Boston and FedNow program executive. “With the launch drawing near, we urge financial institutions and their industry partners to move full steam ahead with preparations to join the FedNow Service.”
Many early adopters have declared their intent to begin using the service in July, including a diverse mix of financial institutions of all sizes, the largest processors, and the U.S. Treasury.
In addition to preparing early adopters for the July launch, the Federal Reserve continues to engage a range of financial institutions and service providers to complete the testing and certification program and implement the service throughout 2023 and beyond. Montgomery noted that availability of the service is just the beginning, and growing the network of participating financial institutions will be key to increasing the availability of instant payments for consumers and businesses across the country.
The FedNow Service will launch with a robust set of core clearing and settlement functionality and value-added features. More features and enhancements will be added in future releases to continue supporting safety, resiliency and innovation in the industry as the FedNow network expands in the coming years.
“With the FedNow Service, the Federal Reserve is creating a leading-edge payments system that is resilient, adaptive, and accessible,” said Tom Barkin, president of the Federal Reserve Bank of Richmond and FedNow Program executive sponsor. “The launch reflects an important milestone in the journey to help financial institutions serve customer needs for instant payments to better support nearly every aspect of our economy.”
About the FedNow Service
The Federal Reserve Banks are developing the FedNow Service to facilitate nationwide reach of instant payment services by financial institutions — regardless of size or geographic location — around the clock, every day of the year. Through financial institutions participating in the FedNow Service, businesses and individuals will be able to send and receive instant payments at any time of day, and recipients will have full access to funds immediately, giving them greater flexibility to manage their money and make time-sensitive payments. Access will be provided through the Federal Reserve’s FedLine® network, which serves more than 10,000 financial institutions directly or through their agents.
If it wasn’t clearer that the FedNow Service moves us directly to CBDCs, check out this Yahoo Finance report:
Fed Governor Michelle Bowman said last year that FedNow, which will enable consumers and businesses to send payments instantly, could offer some of the same benefits as a central bank digital currency.
What does the Federal Reserve need to complete this infrastructure?
Digital ID!
They need a digital ID that all citizens use to enter this surveillance slavery.
Without digital ID, the agenda falls apart.
Melissa Ciummei explains:
TS HAPPENING!!!!CBDC infrastructure announced for America May 2023 …… first they need a digital iD to get us all to use it. RESIST!! This is the final hurdle before surveillance slavery. Without digital iD the agenda falls apart. https://t.co/UXir4gfs6b pic.twitter.com/A7gMenms5x
— Melissa Ciummei (@KSCUBKEE) September 10, 2022
Additional footage via YouTube:
The battle against CBDCs is currently being fought across the United States in state legislatures.
REPORT: Alabama State Legislature passes law to prohibit governmental agencies from using central bank digital currencies (CBDCs) as payment and bars the state from participating in any testing of a CBDC by the Federal Reserve.
— DailyNoah.com (@DailyNoahNews) June 21, 2023
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