Will Bank Failures Beget an American ”Digital Gulag”?

Where could the collapse of two prominent regional banks – and the response to their failures – leave us? The Biden administration has effectively insured depositors’ entire accounts, not just the $250,000 supposedly guaranteed.

That’s obviously unsustainable if the banking industry continues to be rocked by instability. So, there is increasing speculation that the federal government will seize upon this pretext to accelerate the introduction of a Central Bank Digital Currency, and what amounts to its compulsory adoption by the American people.

When combined with Team Biden’s simultaneous efforts to empower the World Health Organization to dictate our public health policies and practices – including by globally mandating  “smart” medical cards, we could shortly be condemned to what amounts to the sort of “digital gulag” the Chinese Communists call the “Social Credit System.”

We must not go there.

This is Frank Gaffney.

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