What are dangers of a digital dollar?

all right for more on this let's bring in Monica Crowley former assistant treasury secretary for public affairs and the host of The Amazing podcast the Monica Crowley podcast Monica good to see you great to see you so deep listen I think we share the same Vibe on the digital currency what's your take yeah it's hard to overstate how dangerous a path this is when President Biden came into office he ordered the treasury Department under secretary Yellen to actually begin a pilot program to study how this would affect the U.S economy and the average American we're

not alone most western governments also have these pilot programs so there is a massive move toward a central bank digital currency in all of these countries the bottom line here is not ease or convenience that's how they're going to sell it right the ultimate objective is to move us to a cashless Society so you will no longer have that hard asset of that twenty dollar bill or ten dollar bill your money will essentially be software it will be a number in a program that the FED treasury the government your political opponents will all have access

to they eventually want to get rid of most banks now the the big ones are too big to fail but in the end the ultimate objective is to essentially wipe all of the banks out so that your bank will be the Federal Reserve everything will be centralized and again this is not really about the money although of course it is this is about power and control because the government such as it is will have access to all of the information related to every single transaction you make you buy a stick of gum the government will

know you buy a new car the government will know oh you bought the wrong car you didn't buy an EV now you're going to get penalized so in the end Sean this is really a move toward a CCP style social credit system and they're using this move to a central bank digital currency as the biggest lever to try to get us there it's important note that that uh other cryptocurrencies like Bitcoin is decentralized this will be centralized within the government Bitcoin is a is a a technology for Freedom this is a technology for control I

mentioned this before I brought my I brought my prop I got a 20 bill I can use this 20 Bill however I choose for for meat for guns for even illicit purposes but when the government controls the dollar they can control as as the as uh as we talked about in the report whether you can buy a firearm how much gas you can buy how much electricity you can buy can you buy meat or do you have to buy bug-based meat they can control everything that you purchase with a digital dollar and whether you can

purchase anything well that's also the point too because if you overstep perhaps your monthly carbon footprint right or if you say something that the government doesn't like you engage in wrong think they'll be able to turn off your access to your own money so you will not be able to buy or sell anything this this is how dangerous you were shut out of the economy and of course it's all subjective and it will all be in the hands of these marxists right and so you and I won't be able to buy anything this is why

it's so dangerous because this spells the end of your economic freedom and I'm not sure the American people are really paying close attention to it I'm glad Senator Cruz and some others Governor DeSantis they're paying attention to it but this is moving very fast down the track and we need more leaders on on the Republican side to stand up and even responsible Democrats to say look this is not the path for the United States because if we continue to go down the path you're going to lose all of your economic freedom and economic power will

be centralized in the hands of the very very few and I think there's a lot of conversation about attacks on freedom attacks on Democracy right if and you look at all those things do you think this is one of the greatest threats that we face in the country is the digitization of the Dollar by the FED yes a hundred percent and it's moving along a parallel track with the dollarization movement where you have countries now that are dumping the dollar it's moving pretty fast all Saudi Arabia has to do is say you know what we're

going to start trading oil in different currencies rather than the dollar to have a complete Global and certainly American economic collapse and that in a way they want to instigate that Sean because if we have a true economic implosion they'll write in as The Rescuers with a central bank digital currencies we were talking about that in the last segment I'm listen I'm I'm frightened uh that we can lose a reserve status with a dollar what that does for our economy a lot of economists don't but you look at again a 32 trillion dollar debt on

the way to 50 trillion uh 50 trillion in the next 10 years uh the FED as a balance sheet of almost nine trillion dollars this is disastrous policy to think that the dollar is going to remain the reserve currency for much longer yeah and if that goes away then you're going to have the kind of economic implosion we have not seen since grade 7 impression what does that mean to you and me that means astronomical inflation that makes today's inflation look like Child's Play This will be Weimar Republic kind of hyperinflation and really the the

only solution to it is going back to the gold standard which you know would be difficult to do but you've got to have our currency backed with a hard asset like gold otherwise you know you've got this free-floating uh dollar and and system that is not backed by anything price of gold above two thousand dollars if we're making a transition Monica Crowley are we so smart I couldn't agree with you more thank you for joining me always a pleasure check out our podcast it's awesome all right thanks