In the state’s relentless pursuit to scrutinize and control every citizen, including monitoring, tracking, and especially taxing their income, untraceable physical cash has long been a shield against such tyranny. However, thanks to Donald Trump’s nomination to the Federal Reserve Board of Governors, anonymous purchases, deposits, and savings with cash could soon be a thing of the past.
In November 2017, central banking proponent and Keynesian economist Marvin Goodfriend was nominated by President Donald Trump to fill one of the vacancies on the Federal Reserve Board of Governors. He was then confirmed by the U.S. Senate Banking Committee to advance.
Goodfriend is a central banking insider who’s spent decades moving in and out of government and central banks and his ideas are nothing short of Orwellian.
While his resume may make him seem like a qualified member of the corrupt and insidious Federal Reserve System, he’s proposed and openly advocated for one of the most horrific plans a free society (somewhat) has ever seen—tracking cash.
Goodfriend’s idea was to insert magnetic strips into the bills. Each time the cash was returned to a bank, the money would be taxed at a pre-determined rate. That would discourage individuals from hoarding cash and remove one obstacle for central bankers in setting negative rates.