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Rep. Alex Mooney aims to block Fed's digital currency scheme
By JP Cortez
Money Metals News Service, Eagle, Idaho
Monday, June 5, 2023
A sound money champion, U.S. Rep. Alex Mooney, R-West Virginia, has introduced H.R. 3712, the Digital Dollar Pilot Prevention Act -- legislation that would block the Federal Reserve from unilaterally pursuing any form of central bank digital currency scheme.
"Congress cannot give an inch when it comes to central bank digital currencies," Mooney said. "They would threaten the liberties of law-abiding Americans and are being used by authoritarian countries right now to crack down on dissent."
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H.R. 3712 is the latest in a growing backlash to central planners' designs to further centralize government control of currencies, including creating a greater ability to track all financial transactions, disallowing certain types of purchases, and even outright "turning off" a targeted individual's access to money. ...
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