Opposition to a potential U.S. central bank digital currency (CBDC)—which represents the endgame for totalitarian control—has become increasingly strident in recent years. Much of the concern was galvanized by an executive order from the Biden administration in March 2022 that directed nearly every important department and agency in the U.S. government—in addition to “encouraging” the nominally independent Federal Reserve—to continue their efforts to create a Federal Reserve-backed CBDC.

Republican leaders ranging from former President Donald Trump, Vivek Ramaswamy, Sen. Ted Cruz (R-TX), House Majority Whip Tom Emmer (R-MN), and Florida Gov. Ron DeSantis, among many others, have all pushed back heavily against this growing threat.

In response to this clamor from conservative leaders as well as a growing number of Americans, Federal Reserve Chairman Jerome Powell was asked to testify before Congress on March 7 about the Fed’s intentions vis-à-vis a U.S. CBDC.