Given the explosive growth of cryptocurrencies and digital assets in recent years, several nations, including the United States, have decided to jump into the game with the development of so-called CBDCs, or Central Bank Digital Currencies.
President Joe Biden signed an executive order in March to kickstart that process in the U.S., and now a former CIA insider and Pentagon adviser, Jim Rickards, is warning that Biden’s order equates to a “death warrant” for the U.S. dollar as it currently exists, Breitbart reported.
Indeed, if Rickards’ warnings are correct, the U.S. government could, at the very least, track, if not actually control, how and when and where any and every American citizen spends their digital dollars.
Biden’s order on central bank digital currencies
It was on March 9 that President Biden signed Executive Order 14067, titled “Ensuring Responsible Development of Digital Assets.”
The order doesn’t appear to be a big deal at first glance, as it merely takes note of the rise of digital currencies and instructs various federal department heads and agencies to consider the various ins and outs of the creation and adoption of a U.S.-specific CBDC.
Concurrent with that order was a “fact sheet” from the White House that explained the purported reasoning behind Biden’s order, such as protecting consumers, businesses, and investors, fostering competition and stability in the global markets, and going after bad actors using digital assets for criminal purposes, among other things.
Biden signed the “death warrant” for the dollar
However, according to Breitbart, Rickards said, “The U.S. dollar as we know it is doomed,” and that “President Biden signed the death warrant himself on March 9th with Executive Order 14067.”
“This is a pretty sinister move by the President, to tell you the truth,” he continued. “And I bet 99 percent of Americans have no idea about it.”
“What’s worse,” Rickards added, “it could spell disaster for the wealth of millions of Americans — at a time when inflation is already destroying their purchasing power.”
Government control over your money
Rickards went on to explain that Biden’s executive order could lead to the creation of a “fully trackable ‘spyware’ version of the U.S. dollar” that threatens to eviscerate the “privacy and personal security” of all American citizens and potentially even grant the federal government complete control over the use of an individual’s own money.
“This is happening right now. Executive Order 14067 already gives President Biden unprecedented power over the future of the U.S. dollar,” Rickards said, according to Breitbart. “And sadly most Americans will be completely caught off guard by it.”
“Look, between inflation, supply chain issues, and unstable markets, American savings accounts are getting crushed right now. And Biden is getting pressure from all sides to do something about it,” he added. “I believe it’s only a matter of time before he pulls the trigger on this ‘spyware’ dollar. Americans need to prepare now, before it’s too late.”