JUST IN: House Committee Passes Bill To BAN CBDCs

The House Financial Services Committee advanced a bill on Wednesday to prevent the Federal Reserve Bank from developing a central bank digital currency (CBDC).

What I find to be extremely telling was how the vote and the rhetoric essentially fell along party lines.

GOP lawmakers overwhelmingly opposed allowing the Federal Reserve to develop a CBDC, while Democrats seemed to be obsessed with the idea.

If ever there were any doubts that Democrats are the prime enemies of human liberty, lay those doubts to rest now—these people are unabashedly for a central bank digital currency.

Multiple outlets confirmed the latest development and indicated that the bill must now proceed to the House of Representatives for a final vote.

JUST IN: 🇺🇸 House Financial Services Committee passes bill to ban the Federal Reserve from creating a CBDC.

— Watcher.Guru (@WatcherGuru) September 20, 2023

🚨NEW: @GOPMajorityWhip’s anti-CBDC bill has just passed out of the House Financial Services Committee. https://t.co/2qIxziWihq

— Eleanor Terrett (@EleanorTerrett) September 20, 2023

Watcher Guru provided more details:

US Congressman Tom Emmer introduced the new bill to ban the Federal Reserve from creating a CBDC in the future.

The bill bans any CBDC pilot programs before they’re proposed.

In addition, it prohibits the Fed from introducing a retail digital currency that could be used for citizen surveillance.

Democrats on the U.S. House Committee on Financial Services had this to say:

“The digital dollar could make banking, shopping, & other financial transactions faster, cheaper, & simpler. Unfortunately, Republicans are pushing forward a bill that will stifle our ability to explore further potential benefits of the CBDC. Financial Services Committee Democrats are a “NO” on this bill!”

The digital dollar could make banking, shopping, & other financial transactions faster, cheaper, & simpler. Unfortunately, Republicans are pushing forward a bill that will stifle our ability to explore further potential benefits of the #CBDC. @FSCDems are a “NO” on this bill! |… pic.twitter.com/ihscmv0vF7

— U.S. House Committee on Financial Services (@FSCDems) September 20, 2023

Hotep Jesus provided this video of the House vote and highlights authoritarian Democrats attempting to push a CBDC on the American people.

The House is Voting on the CBDC Bill NOW!

Maxine Waters is UNHINGED! https://t.co/yRaxlIC0Y8

— Hotep Jesus (@HotepJesus) September 20, 2023

Fox Business explained:

Central bank digital currencies (CBDCs) have become increasingly popular over the last three years.

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According to research from think tank Atlantic Council’s GeoEconomics Center, as many as 130 countries, representing 98% of the global economy, are exploring digital versions of their currencies; 11 countries, including China, have fully implemented a CBDC.