WorldNetDaily editor Joseph Farah has a new conspiracy to rant about in his Aug. 10 column:
Some of America's smartest men, including Robert Kiyosaki, investment guru and author of the personal finance book "Rich Dad, Poor Dad," have some choice words for Executive Order 14067.
It would behoove you to listen to them.
Kiyosaki called President Joe Biden's signed executive order "the most treasonous act in U.S. history" and the creation of Central Bank Digital Currencies, or CBDC, as "communism in its purest form," encouraging Americans to "stay awake."
He is joined by Jim Rickards, another economist, investor and former CIA official who is calling it a step toward the end of cash, the greenback, in circulation since the founding fathers. The new "digital tokens" can be "turned off" if the government doesn't like what you are doing. Rickards has four decades of experience on Wall Street.
Rickards criticized CBDC and labeled it as "Bitcoin's Evil Cousin." He also exposed the supposed singular event called C-Day, which according to him, will take place on Dec. 13, 2022, and will disrupt the traditional financial systems in the U.S.
He said when what he calls "C-Day" happens, paper money would be worthless and the U.S. dollar would crash. He further added that consumer spending and access to basic needs would also be restricted, and people holding too much money would be penalized.
"When Biden Bucks are rolled out, many experts – myself included, believe they will begin an era of total government control and surveillance," Rickards stated. "This is not hyperbole. This would dramatically expand the power and influence of the federal government … essentially acting as a new type of 'spyware.' With Biden Bucks, the government will be able to force you to comply with its agenda. Because if you don't, they could turn off your money. This won't be like freezing a bank account, it will be so much easier."
Just think what this will mean if Biden gets his way – or whoever is behind this plot.
You want to keep your internal combustion engine car? Your digital dollars suddenly won't pay for gas. You'll be forced to buy an electric vehicle.
Rickards calls it "the tip of the fascist iceberg."
False. The executive order doesn’t do any of these things. It urged the Federal Reserve to explore whether the central bank should create its own digital currency and directed the Treasury Department and other federal agencies to study the impact of cryptocurrency on financial stability and national security.
Some of the online posts directed readers to the fourth section of the executive order, which focuses on policy and action related to a potential central bank digital currency, or CBDC.
However, the executive order does not create such a system. It directs the Federal Reserve and other agencies to study the risks and benefits of that approach and charges the Attorney General with deciding whether legislative changes would be necessary to implement such a change.
This claim and other claims that the executive order renders paper money worthless or implements a new social credit score system are false, according to Aaron Klein, a senior fellow in economic studies at the Brookings Institution.
“The executive order did not give the green light to a digital currency, to a CBDC,” Klein said in a phone interview. “It set in place a structure, it set in place a set of studies, and it elevated the attorney general’s role in the process of deciding whether the Fed has existing legal authority or needs new legal authority.”
But Farah doesn't care about facts -- only conspiracy theories designed to rile up his dwindling reader base. He concluded:
Is this scare talk? No, it's just Executive Order 14067. Biden signed it March 09, 2022 – "By the authority vested in me as President by the Constitution and the laws of the United States of America." Look it up!
We did. You're wrong. Stop lying to your readers.