JPMorgan Sees Gold Charging to Record Highs

7.26.23 - JPMorgan Sees Gold Charging to Record Highs

Gold last traded at $1,972 an ounce. Silver at $24.93 an ounce.

Representative Warren Davidson Calls for Swift Ban of CBDCs, Says Fed Creating 'Financial Equivalent of Death Star' - The Daily Hodl

With so much downside risk - due to cyber-hacking and privacy loss concerns - and not much upside potential, why else would our government be pushing for a CBDC if not to be able to exert more control? Not one advocate can accurately address what problems a CBDC would solve, but that hasn't stopped the banks from moving forward.

Republican Congressman Warren Davidson is calling for an outright ban on central bank digital currencies (CDBCs) as he foresees the government using the asset to exert more control over the general population.

In response to a job advertisement by the Federal Reserve Bank of San Francisco seeking to recruit a senior crypto architect specializing in CBDCs, Congressman Davidson says that digital versions of fiat currencies should be outlawed.

Davidson refers to CBDCs as the "Death Star," a reference to the planet-destroying warship from Star Wars.

"The Federal Reserve is building the financial equivalent of the Death Star. Central Bank Digital Currency (CBDC) corrupts money into a tool for coercion and control. Congress must swiftly ban then criminalize any effort to design, build, develop, test or establish a CBDC."