On the recordMay 23, 2024
Mr. Chairman, there is a reason that China, under the rule of the totalitarian Chinese Communist Party, has the most developed CBDC program. It is about control. Their CBDC enables them to combine intrusive monitoring of the public and control their lives with their Orwellian social credit scores. Take what Canada did by cutting off money for the truckers. Look at what China is doing. If we go down this path, we are heading toward an Orwellian nightmare. My sense of Congress doubles down on the fact that the greenback is the reserve currency of the world. A CBDC undermines that, and it should not be pursued. Mr. Chair, I reserve the balance of my time.
