“Biden Bucks” and the War on Crypto

June 14, 2023

by James Rickards Daily Reckoning

I’ve written a lot about central bank digital currencies (CBDCs) including the U.S. dollar version that I call “Biden Bucks.” The threat from CBDCs is enormous.

They are digital (but not true cryptocurrencies), which means they are programmable. The Treasury and Fed can use the CBDC ledger to track your purchases, look at your political contributions, look at your religious affiliations and basically profile you as an enemy of the state or “ultra MAGA.”

Your “Biden Bucks” could be made to stop working at the gas pump once you’ve purchased a certain amount of gasoline in a week. How’s that for control?

And in a world of “Biden Bucks,” the government will even know your physical whereabouts at the point of purchase.