Fri Sep 16, 2022 – 6:06 pm EDT
(LifeSiteNews) — The Biden administration released on Friday a report announcing an “interagency working group” for the development of a central bank digital currency (CBDC) that could facilitate unprecedented government control over individual finances.
The announcement, which marks a significant step toward a U.S. CBDC recently slammed by investment guru Robert Kiyosaki as “communism in its purest form,” was issued in response to President Joe Biden’s Executive Order 14067.
The March 9 executive order declared that his administration “places the highest urgency on research and development efforts into the potential design and deployment options of a United States CBDC,” and called for an analysis of its “potential implications.”
The order went so far as to praise a U.S. CBDC’s potential for interoperability with other countries’ CBDCs, which would open the door to a cohesive international digital financial system.
The new September 16 report hails the potential “significant benefits” of a U.S. CBDC, and signals the creation of an interagency group to study the effects of a CBDC and share its findings.
“To support the Federal Reserve’s efforts and to advance other work on a potential U.S. CBDC, the
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