Topic: Cbdc Act

Aaron Day explains the "Genius Act," which he describes as a backdoor for a Central Bank Digital Currency (CBDC). The act forces stablecoin issuers like Tether to back their tokens with US Treasuries, effectively putting private digital money under the control of the Federal Reserve. This allows the government to maintain financial surveillance while funding more debt.

The Stablecoin Act is framed as the "privatization of money," allowing private companies to issue tokens backed by the U.S. dollar. This decentralized approach is intended to counter the implementation of Central Bank Digital Currencies (CBDCs), which critics say allow for total government surveillance. Trump’s policies aim to protect citizens from being "debanked" based on their political or religious beliefs.

Marjorie Taylor Greene warns about the "Genius Act," a bill she claims sets up a federal framework for a Central Bank Digital Currency (CBDC). She argues the bill lacks a prohibition on CBDCs and fails to protect self-custody of digital assets, unlike a previous executive order from Donald Trump. Greene criticizes House leadership for pairing the act with a defense appropriations bill to force its passage without amendments.

The Genius Act, currently moving through the House, is criticized for failing to ban a Central Bank Digital Currency (CBDC) and potentially creating a backdoor for its implementation. Marjorie Taylor Greene noted that while the bill regulates stablecoins, it lacks the self-custody protections and CBDC prohibitions found in Trump's previous executive orders. She warned that the bill is being rushed through without the opportunity for critical amendments.

The "FedNow" program, launching in July, is identified as a precursor to a U.S. Central Bank Digital Currency that could allow the government to freeze funds based on behavior. Simultaneously, the "Restrict Act" is criticized as a tool for total internet surveillance that could criminalize the use of VPNs. These financial and digital tools are framed as the final steps in establishing a technocratic dictatorship.

A report by Greg Reese traces the history of usury and the transition from sound money to the current fractional reserve banking system. The Federal Reserve Act of 1913 and the end of the gold standard are identified as the foundations of a debt-based Ponzi scheme designed to eventually implode. The banking cartel is accused of planning to transition the population into an authoritarian Central Bank Digital Currency (CBDC) following the inevitable dollar collapse.