CBDC Resolution

Whereas, Governor DeSantis has signed HB7049 into law forbidding the use of CBDC -Central Bank Digital Currency in the State of Florida; and

Whereas, the FedNow system has already instituted a 24 hour a day 7 day a week system for commercial transactions (at the present time) allowing for rapid consolidation of the banking industry; and

Whereas, the goal of establishing a Central Bank Digital Currency (CBDC) is ultimately to eliminate all brick and mortar banks and to grant sole authority for the issuance of Central Band Digital Currency (CBDC)to the Federal Reserve Bank, to totally eliminate the use of physical cash and to eradicate competition in the banking industry; and

Whereas, Governor DeSantis is already working with an alliance of 18 States against the Biden administration’s most recent attempt through implementation of Central Bank Digital Currency (CBDC) to backdoor woke ideology of Environmental, Social and Governance into the United States’ financial system.

Whereas, Treasury Secretary Yellen, the FDIC and Federal Reserve rescued uninsured depositors in large institutions which were deemed “too big to fail” and offered no assurance that they will similarly protect banks operating under sound banking principles; and

Whereas, the inevitable devastation of banking systems facilitates a centralized control of money, decimates competition, promotes federal monetary tyranny, the subsequent introduction of the FedNow system already is accelerating consolidation and erosion of our banking industry, we believe these proposals require immediate action.

Be it Further Resolved:

The Lee County Republican Party calls upon Governor Ron DeSantis to convene a special session of the Florida Legislature (which the State of Tennessee has already called) to formally investigate the establishment of a Sovereign State Chartered Bank backed by the Sovereign State of Florida which could be set up to act as a backstop standing behind all State banks, facilitating the establishment of productive, profitable community banks, and acting as depository for gold and silver. We propose that this depository provide a means to allow daily transactions in gold and silver to provide concrete alternatives to Central Bank Digital Currency (CBDC).

We respectfully request that Governor DeSantis consider a ban on the FedNow system or any other Federal Reserve instituted and controlled digital currency in the State of Florida, to protect publically traded banks from any further consolidation by predatory banks.