Biden’s Executive Order to usher in the 3rd great dollar earthquake

LAGOS (CoinChapter.com) — President Joe Biden’s Executive Order 14067 on digital assets focused on ensuring the responsible development of cryptocurrency is posited to create the third great dollar earthquake.

The order is proposed to advance digital and distributed ledger technology for financial services in the United States. However, it is speculated that the new executive order will retire the U.S. dollar and replace it with a trackable digital currency.

The U.S. Department of the Treasury unveiled Biden’s Executive Order on March 9. It has, however, entered the public input phase and is scheduled to be read into law on August 8.

The Treasury announced an open invitation for intakes on Biden’s Executive Order toward digital assets, including the creation of stablecoin. Nellie Liang, Under Secretary of the Treasury for Domestic Finance, explained that the Department is seeking to benefit from the expertise of the American people.

Liang argued that the move order would protect consumers, investors, and businesses in the United States. He also added that the open invitation would leverage the wisdom of the U.S. public to better serve their needs.

However, reports have emerged alleging that Biden’s Executive Order is mainly focused on eradicating the U.S. dollar. As a result, some analysts predicted that the order would cause the third Great Dollar Earthquake (an upheaval every 40 years).

It is worth noting that the first revolt happened in 1934 when President Franklin Roosevelt confiscated private gold. While the second upheaval was caused by President Richard Nixon abandoning the gold standard in 1971.

Many consumers criticize Biden’s Executive Order, saying it would trigger the third economic revolution.

Rich Dad Poor Dad Author, Others Condemn Biden’s Executive Order

Meanwhile, several consumers have kicked against Biden’s Executive Order, noting that it will cause more economic hardship. Rich Dad Poor Dad author Robert Kiyosaki condemned the order saying it is the most treasonous act in U.S. history.

“Jim Rickards made his most important announcement today. It’s about the most treasonous act in US history Biden’s Executive Order 14067. It’s communism in its purest form, the creation of CBDC Cental Bank Digital Curreny. Stay awake. Tune in to Rickards. Tune out Biden Take care.”

Kiyosaki tweeted.

Similarly, Ginger Hernandez argued that the new order was another medium through which the government would spy on its citizens. She said Biden’s Executive Order would replace the U.S. dollar with a trackable spyware version.

She also posited that the order would allow the government to track and surveil money illegally.

“You really need to check out Executive Order 14067. It makes it easier for the government to track every financial transaction you do. It also makes cyber crimes easier to commit.”

Frank Austin said.

What Is The Objective Of Order 14067?

Furthermore, Biden’s Executive Order highlighted several objectives of the new policy. It revealed that the principal objective of the order is to protect consumers, investors, and businesses in the United States. Others include:

• Protect the United States and global financial stability.
• Mitigate illicit finance and national security risks posed by the misuse of digital assets.
• Ensure and reinforce U.S. leadership in the global financial system and technological space.
• Promote access to safe and affordable financial services.
• Boost technological advances that promote responsible development and use of digital assets.