By Rita Cook
Correspondent
Texas Metro News
Is this the beginning of digital currency and the end of your financial freedom?
Washington D.C. – President Trump has been using his power of the pen to sign a variety of Executive Orders that have a broad range and a long reach.
On March 25 he signed EO 14247 to modernize payments to and from America’s bank accounts.
While most of his orders have on the surface seemed to follow what his voters said they wanted when they put him in office, this one raises a red flag because it reeks of the World Economic Forum rhetoric that is not a win for the American people. This Executive Order is what I see could be the beginning of a Central Bank Digital Currency.
And indeed, it specifically reads it is NOT the beginning of such a thing, however, I urge you to pay attention as the financial world gets ever more complicated.
After all, we have seen over the years, circumstances change and usually not in favor of the American people when the government gets involved.
One example is how our rights were taken away under the guise of 911, and we are still taking our shoes off and putting three-ounce bottles through the machine at
the airport (and that is just one example).
This EO to modernize payments to and from America’s bank accounts is a call for the end to paper- based payments by Federal Government.
At a glance, it seems harmless “The continued use of paper-based payments by the Federal Government, including checks and money orders, flowing into and out of the United States General Fund, which might be thought of as America’s bank account, imposes unnecessary costs; delays; and risks of fraud, lost payments, theft, and inefficiencies.
Mail theft complaints have increased substantially since the COVID-19 pandemic. Historically, Department of the Treasury checks are 16 times more likely to be reported lost or stolen, returned undeliverable, or altered than an electronic funds transfer (EFT). Maintaining the physical infrastructure and specialized technology for digitizing paper records cost the American taxpayer over $657 million in Fiscal Year 2024 alone.”
The order is therefore mandating the transition to electronic payments for all Federal disbursements and receipts by digitizing payments to the extent permissible under applicable law (but not, for avoidance of doubt, to establish a Central Bank Digital Currency).
The EO becomes effective September 30, 2025, when the Secretary of the Treasury will stop issuing paper checks for all Federal disbursements inclusive of intragovernmental payments, benefits payments, vendor payments, and tax refunds, except in specified cases.
At that time executive departments and agencies will transition to EFT methods, including direct deposit, prepaid card accounts, and other digital payment options.
Rita Cook is a world traveler and writer/editor who specializes in writing on travel, auto, crime and politics. A correspondent for Texas Metro News, she has published 11 books and has also produced low-budget films.
You must be logged in to post a comment Login