UPDATED 4:27 PM PT – Wednesday, October 26, 2022
Former Financial Adviser to the Pentagon, Jim Rickards, is warning that the Biden administration is destroying the U.S. financial system.
In a recent statement, Rickards claimed that Democrat officials are replacing the U.S. dollar with a digital currency that would expand the surveillance of all Americans.
In a video posted to YouTube, he pointed out that Biden signed Executive Order 14067 on March 9th. The order enables a “fully trackable spyware version of the U.S. dollar.” The order is called Ensuring Responsible Development of Digital Assets, and it claims to introduce government regulation of crypto and digital currencies.
However, Rickards says the order allows legal surveillance of bank accounts and purchases.
“This is what I believe Section 4 of Biden’s order means for all Americans, the U.S. dollar will be made obsolete,” Rickards said. “Soon your cash will be confiscated or simply be worthless paper. The cash currency we have now will be replaced with a new programmable digital token but the truth is few from the deep state recognize Biden’s movement for what it really is. The digital dollar means Dems would be able to punish and contribution purchase or even social media comment that they don’t like.”
Rickards also warned that the deepening inflation crisis may lead to a collapse of the U.S. financial system which, in turn, would accelerate the transition to the digital dollar.