Central bank digital currency needs amendment to the constitution.

 CBDC SHOULD NEVER BECOME MANDATORY

U.S. BANKS BEGIN ROLL OUT OF DIGITAL CURRENCY

Several U.S. banks have recently began to roll out their digital currency, including J.P. Morgan. So far this is for commercial customers and their accounts have been transformed from the traditional system to digital currency for business to business transactions. It seems that these customers have no other option at these banks.

This all began earlier in the year when President Biden issued an executive order to the federal reserve to explore the use of a central bank digital currency, CBDC. It seems this move is being fast tracked and there has been opposition by congress to this hasty power grab by the federal /government.

The constitution clearly spells out that that congress alone has the power to coin money, regulate the value thereof, and of foreign coin, and fix standards of weights and measures, an executive order is just another usurpation of power. 

At present a digital currency is not in itself a bad idea. It could be acceptable to use such a scheme to speed up transactions, particularly in todays world where much is transacted electronically. The problem would be when such a currency becomes the only alterative and cash is eliminated entirely. This would inevitably lead to an abuse of power as the government could monitor and regulate every business transaction. It is the dream of all authoritarian and totalitarian governments. 

It would also make all transactions impossible in time of emergency, power outages, disruption of the internet or some government action..

At present, all our paper currency which was the first step in the devaluation of money, states that "This note is legal tender for all debts public and private" Any move to a Central bank digital currency will need much more than an executive order to have semblance of a legal change.

Many foreign governments have already begin this process and we can expect, if it is not restrained, it will become a move to a global digital currency, whereby some central bureaucracy can control all global transactions. This again is a dream of those who lust for ultimate power to rule the world.

At present, their is legislation proposed in opposition to the government moving to a digital currency, it is a very important move that will hopefully insure the freedom to conduct private transactions in the future.