Posted on 12/12/2022 5:55:13 PM PST by Freedom56v2
CLAIM: President Joe Biden signed an executive order in March 2022 that will introduce a cashless society, make paper money worthless, give government new power to inhibit purchases and create a social credit score system like the one in China, which would punish people financially for certain behaviors.
AP’S ASSESSMENT: False. The executive order doesn’t do any of these things. It urged Federal Reserve to explore whether central bank should create its own digital currency and directed Treasury Department and other federal agencies to study the impact of cryptocurrency on financial stability and national security.
THE FACTS: In March, Biden signed Executive Order 14067, titled Ensuring Responsible Development of Digital Assets. The long-anticipated executive order called on government agencies to look at the risks and benefits of digital currencies.
Five months later, social media users are spreading unsupported theories about what the order will do.
“Your paper money will become worthless, it’s going to be replaced with Biden bucks,” read one widely shared Facebook post, which added that “programmable digital tokens” would be able to “turn off your account whenever they want” using a social credit score system.
“A global ‘CASHLESS SOCIETY’ is being rolled out, possibly in December 2022,” another post claimed.
Some of the online posts directed readers to the fourth section of the executive order, which focuses on policy and action related to a potential central bank digital currency, or CBDC.
However, the executive order does not create such a system. It directs the Federal Reserve and other agencies to study the risks and benefits of that approach and charges the Attorney General with deciding whether legislative changes would be necessary to implement such a change.
Many proponents of digital currencies, more often called cryptocurrencies, prefer a system where the currency is not controlled by any government.
(Excerpt) Read more at apnews.com ...
Is the AP correct?
Anyone have any information?
Found this very different view:
From Awaken America:
https://twitter.com/i/status/1602324671688425472
If whole society is cashless, doesn’t it reduce or root out robberies?
Section 3 on down...
Deep State isn’t doing this to protect consumers.
It roots out the purchases of Conservatives and Patriots.
AP cannot be trusted to do anything except support the communist line...
If it says it is “good”, it is definitely “bad”...
If it says it is “bad”, it is definitely “good”...
Just for reference purposes, are we back to abiding by the U.S. Constitution?
Maybe cash theft...
Hmmm...Digital theft?
Won’t stop theft of Catalytic Converter vehicles, electronics, etc.?
I don’t know about this particular case, but in general the AP will bend over backwards to avoid criticizing Biden in any way. They are pathetic.
Biden: 1+1 = brown
The AP: President Biden did not make an error there as the color brown could well represent the number 2.
Ask Bankman-fried.
I use cash as much as I can.
Good question.
I just am not finding a lot of concern about this...
Maybe it is nothing, or maybe big deal...but people might want to be aware...
Since everyone is following Musk, maybe someone can tweet something to him about this...
No just different kind of roberies.
That’s the selling point and business likes that notion for sure and they influence politics.
Now I’m worried, since experience has shown that the mainstream press always lies.
Actually, since those of us who have real experience KNOW that journalists are right down there with eddikashun and studies majors when rating their abilities for rational thought and logic.
Narrator: Yes, why yes it actually does.
Yes...very bad news!
This does nothing but begin to set the stage for the cashless society.
Of course it does.
Ok it doesnt do so in a straightforward blatant obvious manner.
What it does is lay the foundational groundwork for it to do that.
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