Money, Money, Money

Source: The Pamphleteer
by Davis Hunt

“Yesterday, two bills pertaining to money and financial transactions set everyone’s hair on fire. I got a couple of emails about them, and Gary Humble of Tennessee Stands expressed his own concern. Purportedly, the bills open to the state’s compliance with a central bank digital currency (CBDC) if one were to arise. On the heels of the Federal Reserve bailing out depositors of Silicon Valley Bank—including Gavin Newsom, who refused to disclose his ties to the bank as he lobbied for its rescue — this has me wondering what the point of a private bank is if the Fed will step in to backstop any and all defaults (open to expert input here). It makes sense to be vigilant about such things as the Fed expands its reach.” (03/15/23)