Federal Reserve Claims Digital Currency is Needed to ‘Maintain the Dollar’s International Standing’
Shane Trejo
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The Federal Reserve is rapidly moving toward a digital dollar, using the inflation and economic turmoil as a springboard to enact the cashless society.
Federal Reserve Chairman Jerome Powell made the announcement on Friday that the private central bank is pushing toward a digital dollar.
“A U.S. CBDC (central bank digital currency) could… potentially help maintain the dollar’s international standing,” he said.
“As we consider feedback…we will be thinking not just about the current state of the world, but also how the global financial system might evolve over the next 5 to 10 years,” Powell added.
He said that the Fed is working at reducing inflation as American workers are crippled by the reduced purchasing power of the dollar.
“To that end my colleagues and I are acutely focused on returning inflation to our 2% objective,” Powell said.
Big League Politics has reported on the Federal Reserve previously sending out public feelers about making a cashless dollar:
“The U.S Federal Reserve, the central bank that has overseen massive inflation of the dollar since its inception in 1913, is thinking of dabbling in cryptocurrency.
The Fed issued a preview of a report on Thursday in which they discussed the idea of creating a cryptocurrency of their own, weighing the pros and cons of such an deavor.
“We look forward to engaging with the public, elected representatives and a broad range of stakeholders as we examine the positives and negatives of a central bank digital currency in the United States,” Fed Chairman Jerome Powell said in a statement.
While a central bank creating a cryptocurrency seemingly defeats the idea of crypto in general, the Fed is likely exploring the idea to hasten the transition toward a cashless society. Fed analysts have pined for a cashless society and a digital dollar for many years as it would drastically increase their power.
“We are looking very carefully about whether we should issue a digital dollar,” Fed Chairman Jerome Powell said to the Senate Banking Committee last year. “As the reserve currency, we have the responsibility to get this right rather than be the first.”
“The economy is a long way from our employment and inflation goals, and it is likely to take some time for substantial further progress to be achieved,” Powell added, noting that the digital dollar would allow the Fed to increase inflationary measures that would help giant banks…
Fed-backed crypto will enable the technocracy to soar to obscene new excesses as the Orwellian Nightmare is realized across the country.”
The Fed is exploiting the economic turmoil they caused to move forward with their plans for total control. If they are not stopped, it will end with mark-of-the-beast microchips implanted into the human cattle.
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