A Digital Dollar is Really Coming

December 13, 2022

In 2009, investing guru Jim Rickards gave a famous lecture at Johns Hopkins University in which he warned about the collapse of the U.S. economy and the U.S. Dollar as a reserve currency.

13 years later, and none of this is hyperbole any longer. President Biden’s reckless financial decisions, like Biden Bucks and Executive Order 14067, could have worse consequences than most Americans realize.

According to Rickards, Executive Order 14067 wasn’t only implemented to address digital assets’ risks and potential benefits. The fine print in Section 4 discussed the eventual replacement of the U.S. dollar with a digital dollar.

On the surface, you may not think a digital dollar is such a big deal. However, it could eventually lead to mass surveillance and the seizure of private bank accounts. In fact, part of the U.S.’s motivation in creating a digital dollar is to compete with China and Russia as their digital currency projects are in more advanced stages. 

The clock is ticking as the New York Fed progresses in a 12-week digital dollar pilot with some of the world’s largest financial institutions. The most prudent thing is to plan ahead sooner rather than later with tools like Jim Rickards’s asset emancipation system.

What is the Digital Dollar? 

According to the Federal Reserve, the government, and organizations like the Digital Dollar Project, a digital dollar’s purpose would be to make the American financial system cheaper, faster, inclusive, and borderless.  

What also could come with a digital dollar is tracking, surveillance, and your money no longer belonging to you. That’s because a digital dollar is a CBDC or a Central Bank Digital Currency. A CBDC is a digital liability issued by a central bank to the general public. It is not a liability of a commercial bank. 

The Federal Reserve says so on its FAQ page

“A CBDC would differ from existing digital money available to the general public because a CBDC would be a liability of the Federal Reserve, not of a commercial bank.”

Now think of the consequences that could result from this. Americans may no longer have the right to their own bank. The U.S. dollar could lose its standing as the world’s reserve currency, and something like the yuan will take over. 

Worse, Americans may only be permitted to bank with these digital dollars issued by the Fed. Consequently, the government will be able to track your every move. 

That’s precisely why Jim Rickards calls it “spyware” currency.  

He sees a digital dollar leading 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 

When is the Digital Dollar Coming? 

It’s anyone’s guess when the digital dollar comes, and it won’t be overnight. But, the framework is certainly in place for a digital dollar to be put into broader use in a few years. 

In mid-November, financial giants like Citigroup, HSBC, Mastercard, and Wells Fargo teamed with the New York Fed to oversee a 12-week digital dollar pilot. The project will be conducted in a test environment and use simulated data to see how a digital dollar can speed up payments.  

The other goal? To keep up with authoritarian states like China and Russia.

Russia will officially launch a CBDC in 2024, and China is piloting a CBDC in four of its most populous provinces. Furthermore, Russia plans to use its CBDC for mutual settlements with China by next year.

That should tell you all you have to know.  

Biden Bucks vs. the Digital Dollar

Biden Bucks and the Digital Dollar often get used interchangeably, but they are, in fact, two different entities. The commonality, though, is both could have far-reaching consequences on the American financial system and your freedom. 

While the digital dollar refers exclusively to Executive Order 14067 and the government’s CBDC experiment, Biden Bucks refer to direct payments from the government intended to help the most vulnerable Americans. 

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 

Although the ideas behind Biden Bucks and speedier, cheaper financial transactions are noble, there will always be consequences. While we could see the digital dollar’s implications with government surveillance and private banking in a few years, we’ve already seen the effects of Biden Bucks. 

First, Biden Bucks and these reckless spending packages have contributed to the worst inflation crisis in 40 years.  

Second of all, Biden Bucks has gutted the American work ethic. Biden Bucks simply prints money and sends it out to many people who don’t need it. It creates a welfare state where people are no longer married to work or a spouse but to the government.

Biden Bucks was originally a pandemic-era program that the current administration wants to make permanent. For instance, the government paying people just because they have a kid will be baked into our financial system. 

If Biden Bucks becomes permanent, millions upon millions of Americans could opt to stay on their couches instead of working. 

Who foots the bill for that? Responsible working adults. 


Biden Bucks, the Digital Dollar, and these other radical spending initiatives claim to help Americans. But Jim Rickards sees beneath the truth and knows that if all of these things go through, it will be the death of our freedom as we know it. 

Rickards has decades of experience working on Wall Street and advising government entities like the Pentagon, the CIA, Congress, and the Department of Defense. He’s predicted many things over the years that have come true. He’s not afraid to share uncomfortable truths and back them up with concrete evidence.  

We live in a society of many bad actors, and no matter what people think, the government is not your friend. 

Currency upheavals happen about every 40 years, and the adoption of the digital dollar will be the third in the U.S. since 1934. However, this currency upheaval could be the greatest one and the biggest threat to our way of life as we know it. 

There’s no date yet for when the digital dollar is coming. But based on the fact that a 12-week trial is underway, and we want to follow China and Russia’s lead, it’s best to prepare sooner rather than later. 

What is the best framework to prepare for it? Jim Rickards’s insights and advice in his asset emancipation report.

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