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Banning Central Bank Digital Currency is "Essential to America's FinTech Future" House Rep Says

Published: August 23, 2023 | Print Friendly and PDF
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A former executive for Pfizer is trending this week, warning of the United Nations push for digital IDs, Central Bank Digital Currencies and the Agenda for Sustainable Development 2030 plan. 

“When the UN, and Bill Gates, and Klaus Schwab tell you that they’ve got a 2030 plan with sustainable development goals, you should assume that they’re serious about it,” former Vice President at Pfizer Dr. Mike Yeadon said. 

Yeadon said that the covid pandemic was only the first step in implementing agenda 2030.
 
“I’m speaking out,” Yeadon said. “There’s nothing in it for me. I’ve lost lots of money, all my friends, I’m away from my home and family.” 
 
“This Agenda is a plan of action for people, planet and prosperity. It also seeks to strengthen universal peace in larger freedom,” The United Nations report said. “We recognise that eradicating poverty in all its forms and dimensions, including extreme poverty, is the greatest global challenge and an indispensable requirement for sustainable development. All countries and all stakeholders, acting in collaborative partnership, will implement this plan. We are resolved to free the human race from the tyranny of poverty and want and to heal and secure our planet. We are determined to take the bold and transformative steps which are urgently needed to shift the world onto a sustainable and resilient path.”
 
“This is an Agenda of unprecedented scope and significance. It is accepted by all countries and is applicable to all, taking into account different national realities, capacities and levels of development and respecting national policies and priorities. These are universal goals and targets which involve the entire world, developed and developing countries alike. They are integrated and indivisible and balance the three dimensions of sustainable development.”
 
The seventeen sustainable development goals include access to equitable quality education, gender equality, access to affordable, reliable, sustainable and modern energy, to reduce inequality within and among countries, to make cities and human settlements inclusive, to take urgent action to combat climate change, to provide access to justice for all and to strengthen the means of implementation and revitalize the global partnership for sustainable development.
 
Yeadon warned about the potential roll out of digital IDs on a recent episode of TeaTime from the Children’s Health Defense. 
 
“They want you to have it, I believe, so that they know where you are at every breathing moment of your life thereafter,” Yeadon said. “Once you’ve got a mandatory digital ID, the powers that can be can shrug and say ‘well it’s not us. It’s this next viral pandemic and you have to take the vaccine, otherwise your digital ID will become invalid and you’ll effectively fall into house arrest.’ So that’s what they’ve been rehearsing.” 
 
Yeadon cautions that Central Bank Digital Currencies, or CBDCs, will transform banking and give governments real time control over our spending. 
 
“The database that’s connecting your electronic money and your ID knows exactly where you are to the grid reference point. It knows who you’re interacting with and what it is that’s proposed to be purchased,” Yeadon said. “Whoever has control of that database and its algorithm can prevent you from doing anything they choose.”
 
Yeadon has found support in Washington. U.S. Congressman Warren Davidson, R-OH called for a ban on CBDC in an X post.
 
“Central Bank Digital Currency (CBDC) poses a serious threat to all digital assets. As I said at Flyover FinTech, many people wrongly conflate even BTC with CBDC,” Davidson said. “At least most agree that CBDC is evil - the financial equivalent of the Death Star. Don’t become an accomplice to anyone designing, building, testing, developing, or establishing CBDC. Banning CBDC is essential to America’s FinTech future.”
 

While the digital ID has not been connected to banking in the West. It has been rolled out across the globe. 

Biometric Update reports that “Ethiopia is implementing a World Bank-supported MOSIP-based digital ID project which intends to have all eligible citizens enrolled by 2025.”

Payments Journal reports that “The mandatory use of digital ID for banking operations in Ethiopia marks a significant step forward in the country’s pursuit of financial inclusion. Through Fayda and MOSIP-based technology, Ethiopia is joining a global movement towards secure, efficient, and inclusive digital identification systems. This transition holds the promise of transforming Ethiopia’s financial sector and empowering its citizens to access a wide range of services and opportunities.”

Australia has shelved its plan to create a CBDC after a pilot program to create smarter payments “helped to advance understanding of a range of issues associated with CBDC and the future of money in Australia.”

MIT Technology Review reports that “more than 100 countries around the world are exploring possible CBDC designs.” 

Assistant Secretary for Financial Institutions Graham Steele spoke on the Digitization of Financial Services at the Transform Payments USA 2023 Conference.

“Many jurisdictions around the globe are also exploring Central Bank Digital Currencies as an option for upgrading money and payments infrastructure,” Steele said. “ To be clear, the United States has not yet determined whether it will pursue a CBDC.”

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