America COMPETES Act of 2022 and the announcement of the CBDC plus Bidens upcoming executive order
2 min read
So these CBDC’s will be really bad news.
I went through the last proposal so you didn’t have to.
TLDR:
In short, they want unilateral power over money and to maintain control of global economies. They also fear Russia China and others are using crypto to skirt sanctions.
They want complete control to spy and freeze funds in everyones accounts
If you stack this with the America COMPETES Act of 2022 which gives the TReasury unchecked and unilateral power to spy and halt or limit accounts and transactions.
Here are some screen shots
https://www.federalreserve.gov/publications/files/money-and-payments-20220120.pdf
https://rules.house.gov/sites/democrats.rules.house.gov/files/BILLS-117HR4521RH-RCP117-31.pdf
here is a little piece about concerns on Russia and China
FED NOW is a service that directly competes with XRP and will also be wholly controlled by the Federal reserve
Lastly Biden will be using an executive order to provision and issue crypto rules next month
This will be done under the banner of national security
An executive order is a signed, written, and published directive from the President of the United States that manages operations of the federal government.
Executive orders are not legislation; they require no approval from Congress, and Congress cannot simply overturn them. Congress may pass legislation that might make it difficult, or even impossible, to carry out the order, such as removing funding. Only a sitting U.S. President may overturn an existing executive order by issuing another executive order to that effect.
submitted by /u/HammondXX
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