Is this the First Step Towards a Central Bank Digital Currency?

Rebel Capitalist's Photo
by Rebel Capitalist
Saturday, Apr 22, 2023 - 18:28

In the video above, we're talking about an article I read in Newsweek titled "Biden raises costs for Homebuyers with good credit."

Now, that headline may sound confusing at first. Why would someone with good credit have to pay more for a home?

But the truth is, the Biden administration is trying to close the racial homeownership gap by helping riskier borrowers. And this is where things get interesting.

I've been warning about central bank digital currencies (CBDCs) for a long time. But it's not just the currency itself that's a problem. It's the infrastructure and power that come with it. CBDCs would allow central planners and authoritarians to have unprecedented control over our finances. And this new development with homebuyers is just the latest example.

The Federal Reserve is currently tweeting about a law that says they cannot do business with individuals. But they're also pushing for everyone to have an account with the Fed. This is where it gets scary.

With a CBDC, our dollars would become a liability to the Fed, not the commercial banking system. And that means the Fed can issue a credit based on narrative, not merit. This is already happening with mortgages.

Homebuyers with good credit are being charged more, while riskier borrowers get better terms. The Fed can do this because they have an infinite balance sheet. They don't have to worry about getting paid back, so they can take risks that regular banks can't.

The government will pitch this as a way to help disadvantaged groups, but it's just another step toward a CBDC. The ultimate goal is to have everyone's account at the Fed so they can implement more woke policies. And the only way to achieve this is by moving our dollar liabilities to the Fed.

This move to charge homebuyers with good credit more is just the beginning. We may see a world where interest rates are gone entirely in five years. And that's a scary thought. So, stay vigilant, Rebel Capitalists. Keep your eye on the Fed and the developments around CBDCs. And remember, the more control they have over our finances, the less control we have over our lives.

Rebel Capitalist Live 4 starts in 19 days...Hope to see you there...

Rebel Capitalist Live 4

Contributor posts published on Zero Hedge do not necessarily represent the views and opinions of Zero Hedge, and are not selected, edited or screened by Zero Hedge editors.