Imagine if all your new “digital money” was stored in a “Fed Account” (as the current Senate bill calls it) managed and tracked by decision-makers at the Fed.
Not only would they know everywhere you spend money and everything you buy The digital dollar will also hand them total control over every part of your life!
They could conceivably prevent you from buying sugary snacks or cans of soda if (by ‘their’ standards) you’re a few pounds overweight. Suspend your passport and driver’s license if you owe taxes. Stop you from buying gas or a plane ticket if you refuse the latest vaccine or virus tracing app. Or even ban you from buying guns and ammunition.
But worse of all If “they” deem you a threat for any one of these reasons or a new reason they make up at any time in the future, what’s to stop them from locking you out of your bank and retirement accounts entirely?
No more money for you, not even digital currency. That’s what we’ve seen in places like China. They call it a “Social Credit Score.” Think about it..