LOUISIANA: Say no to a central bank digital currency in Louisiana
We'll be at the mercy of banks with a central bank digital currency; a digital currency equals totalitarianism.
Our Stand: At-A-Glance
- It's crucial that no form of central bank digital currency is established in Louisiana. We ask for your support of HB415 by Rep. Beryl Amedee. Please tell your House representative to support this bill.
- When funds donated to Canadian truckers were stolen by the Canadian government, we were provided a glimpse of the frightening totalitarianism possible when banks and governments control our currency. A Central Bank Digital Currency (CBDC) makes similar acts of totalitarianism possible when standard currency is replaced by digital currency and is under the control of central banks.
- A CBDC is not the same as legal tender or monetary assets, which are controlled by individuals instead of a centralized banking system or government entity.
- A CBDC is not appropriate for standard deposit accounts because, unlike standard currency, it can be altered or revoked by the issuing authority.
- A CBDC introduces unique risks to individuals and account holders and is not interchangeable with standard currency, nor should it be blended interchangeably with standard currency in existing standard bank accounts.
- Health: “You didn’t take your booster. Sorry, you’re not allowed in public spaces.”
- Energy: “You used your energy allotment this month. Sorry, your electric car won’t start.”
- Food: “You ate too much meat this week. Sorry, your money is only good for plants (or bugs).”
- Savings: “If you don’t take your rations soon, sorry, your money will expire at the end of the month.”
- Free Speech: “You shared info that we disagree with. Sorry, our algorithm is fining you.” (PayPal has already started doing this.)