Here’s Everything You Need to Know About Executive Order 14067
Since 2020, the landscape of how governments and central banks view economics and digital finance has changed. Economic policy turned reckless with trillions of dollars in spending packages and ballooning debt. Central banks have also focused on cryptocurrencies, other digital assets, and digital currencies.
In 2022, over 80% of central banks worldwide are exploring Central Bank Digital Currencies (CBDCs), and 40% are testing proof-of-concept programs. This figure equates to 105 countries representing roughly 95% of global GDP.
We have arrived at a watershed moment in financial services—the decisions made today will have far-reaching implications tomorrow.
The Biden administration is under a microscope with direct cash payments called “Biden Bucks” and the impact of Executive Order 14067 on regulating digital assets and creating a digital dollar.
While Biden Bucks and Executive Order 14067 often get used interchangeably, they are, in fact, two different entities. But both could have far-reaching consequences.
Forget that inflation remains out of control, and the Fed seems hell-bent on rate-hiking us into a recession. The strategy of handing out direct payments, the government printing money, and creating a digital dollar comes with severe risks.
Beyond economic consequences, beware of what this means for government surveillance and your privacy.
To best understand what’s going on, let’s dive deeper into what Biden Bucks are, their pros and cons, and what Executive Order 14067 truly means for you, your money, and your freedom.
Biden Bucks 14067 Pros and Cons
On the surface, nothing is worrying about Biden Bucks. These are only direct payments from the government intended to help Americans through the pandemic and the current economic situation.
Biden Bucks include:
- $1,400 stimulus checks.
- A child tax credit of up to $300 a month.
- An Earned Income Tax Credit (EITC) that covers many essential workers for the first time
Biden Bucks intends to send direct cash payments to Americans needing it the most.
💡 Are you looking for more information about the "digital dollar" that President Joe Biden signed into law with Executive Order 14067? Jim Rickards' refers to these digital dollars as Biden Bucks. We cover that, too. Scroll further down the page to learn more about Rickards' Asset Emancipation System.
Raw numbers suggest it’s working. According to the Urban Institute, stimulus checks reduced the projected poverty rate in 2021 from 13.7% to 10.2%. With the child tax credit, EITC, and other initiatives, the poverty rate could dip to 8.7%.
Additionally, the stimulus checks alone, without accounting for the other initiatives, allegedly reduced Black poverty by 29%, Latino poverty by 26%, and white poverty by 25%.
So why the concerns?
Why are People Concerned about Biden Bucks?
Ronald Reagan once said the nine most terrifying words in the English language are, “I’m from the government, and I’m here to help.”
Never has this been more relevant than the controversy behind Biden Bucks. Regarding government spending, every action has an equal and opposite reaction. There’s always a catch.
Government Spending Equals Inflation
Reckless government spending directly correlates to inflation, and the Biden administration still fails to grasp that. Between 2020-2022, the Fed’s money supply has grown too quickly, leading to inflation. Yet, the current administration still wants to print more money as seen by the ironically named and recently passed “Inflation Reduction Act.”
Inflation is terrible today and is a perfect example of how history always repeats itself in economics.
The last time we had inflation like this was “The Great Inflation” between 1965–1982, otherwise known as “the greatest failure of American macroeconomic policy in the postwar period,” according to economist and Wharton professor Jeremy Siegel.
What caused it? Abandonment of the global monetary system established during World War II. Post-WWII Federal Reserve policies allowed for excessive growth in the money supply and caused the national debt to swell.
Rising “oil prices, currency speculators, greedy businessmen, and avaricious union leaders” also caused us to see:
- Four economic recessions
- Two severe energy shortages
- Unprecedented peacetime implementation of wage and price controls.
- Interest rates as high as 20%.
Does this sound familiar and a precursor of things to come? Do those Biden Bucks still seem helpful and innocent?
A Drain on the American Work Ethic
Another concern about Biden Bucks is how it could gut the American work ethic. Essentially, Biden Bucks send money to people who don’t need it.
Biden Bucks originally was a pandemic-era program. Yet, with the Inflation Reduction Act and other radical initiatives, the Biden administration wants to make it permanent.
You can already receive food stamps, housing vouchers, and health care if you’re unemployed. But now, with Biden Bucks, you can receive a government check if you have a kid. What’s the point of getting up for work anymore? Instead of being married to your work or spouse, you’re now married to the government.
Economists estimate that if Biden Bucks becomes permanent, at least 1.5 million mostly single adults with children will opt to stay home instead of working. Guess who foots the bill for that? Responsible working adults.
What works is giving people incentives to work. For instance, in 1996, President Bill Clinton and a bipartisan majority in Congress passed welfare reform. This eliminated cash welfare without work or job preparation. The results saw child poverty drop from 13% to less than 4%, while teen pregnancies and welfare dependence plummeted.
As a Senator, Biden himself supported the work requirement. What’s changed?
Executive Order 14067, Section 4
On March 9, 2022, President Biden signed Executive Order 14067. The Executive Order intends for every segment of the Federal government to address the risks and potential benefits of digital assets and their underlying technology.
Since the inception of the executive order, every Federal government agency has developed frameworks and policy recommendations that the White House claims to encompass
- Consumer and investor protection
- Promoting financial stability
- Countering illicit finance
- U.S. leadership in the global financial system and economic competitiveness
- Financial inclusion
- Responsible innovation
Much of the executive order focuses on blockchain technology and cryptocurrency regulation.
However, deeper in the 4th paragraph of the executive order is something more consequential for you and your future – replacing the U.S. dollar with a digital dollar.
While sometimes Biden Bucks get used interchangeably with this digital dollar, they are, in fact, two separate things and mutually exclusive.
Talk of a “Biden crypto” or a new digital currency to unseat the U.S. dollar is heating up. On September 16, 2022, Treasury Secretary Janet Yellen outright said that her agency was moving closer to developing a digital dollar. In her words, some aspects of our current payment system are “too slow or too expensive.”
Of course, Yellen won’t tell the whole story beyond the potential benefits. This Biden digital currency comes with many concerns. Concerns that your social and economic freedoms could hinge on.
The Risks of Biden’s Digital Currency
Modernizing our financial system is needed, and Executive Order 14067 claims to do that. Fine.
Biden crypto and this new digital currency, the digital dollar, come with a much more sinister catch. No longer will your money belong to you. It will belong to the Federal Reserve.
According to ABC News, a CBDC differs from existing digital money available to the general public, such as a bank account balance. That’s because a CBDC is a direct liability of the Federal Reserve, not a commercial bank.
If this digital dollar goes through, it would be one of the grossest Federal power grabs in history. The social and economic freedoms of individuals and businesses will be in grave danger. The Federal government will now be able to track your every move. If they deem you as someone spreading “misinformation” or a threat, there’s no telling what they could do.
Russia will officially launch a CBDC in 2024, and the U.S. and U.K. are considered “behind.” This fact should tell you everything.
Biden’s plan could “retire” the U.S. dollar and your financial privacy. Anyone who wants to add 87,000 new IRS agents isn’t just innocently looking to improve the U.S.’s digital financial standing in the world.
Learn more about the potential consequences of the digital currency proposed in Biden’s Executive Order 14067, paragraph 4. Jim Rickards explains his thesis in depth and his shocking conclusions are a must see for all Americans. See more in the video below:
Conclusion
If you are both concerned and infuriated, it’s understandable. The Biden administration claims they’re helping the most vulnerable Americans and modernizing our financial system.
But economist and stock guru Jim Rickards, who understands the inner workings of the government due to his experience with the Pentagon, the CIA, Congress, and the Department of Defense, sees through it.
He calls Biden Bucks and Executive Order 14067’s digital dollar “spyware” currency and alarms readers that the end of the U.S. dollar means the end of your rights and privacy.
In Rickards’s words, the Biden agenda could lead to
- Legal government surveillance of all U.S. citizens
- Total control over your bank accounts and purchases
- The ability to silence all dissenting voices for good
Currency upheavals happen about every 40 years. The last two times were Roosevelt’s confiscation of private gold in 1934 and Nixon’s abandonment of the gold standard in 1971. Rickards calls Executive Order 14067 the 3rd Great Dollar Earthquake.
Because of Rickards’s unique inside knowledge, he recommends several actions you should take to secure and grow your wealth in these times. There’s a tsunami coming, but not all is lost- especially if you follow the advice in his asset emancipation report.
While we’ve done our best to outline Jim’s shocking Biden Bucks predictions here, the situation is evolving quickly and the most up-to-date information can only be found in Rickards’ monthly live intelligence briefings available exclusively to Strategic Intelligence subscribers. You can get the reports and a 12 month subscription to Rickards’ newsletter for only $49, 75% off the usual price if you sign up today.