Jim Rickards: The Secret Surveillance You’re Not Supposed to Know

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Below is a partial transcript of a recent interview with Jim Rickards.

Going back now, we're talking a year and a half, but even longer in some of my books and other writings, we've warned people about Central Bank digital currencies. So, what's a central bank digital currency? 

Well, as it relates to the dollar, it's still a dollar; it's not a new currency, it's still a dollar, but it's in a completely digital form. You'd have no more cash; you got to get rid of cash. And the most important thing that we were warning about is that you have what's called a ledger. A ledger is just an accounting record, like who owns what, who's my depositor, who's my customer, etc., and the banks keep ledgers. 

With the Central Bank digital currency, the ledger would be maintained by the Federal Reserve or the treasury, not clear which, but maybe the Federal Reserve, but one or the other, treasury or Federal Reserve would maintain a ledger of all transactions, kind of like a blockchain in the cryptocurrency world. It would basically turn the dollar into a completely digitized form. The significance of that is the following: right now, use this example before, I buy a candy bar at an airport, I use my credit card, I get the candy bar, the merchant has a payable from Mastercard, what do they do with it? 

Well, they sell it to a bundler called a merchant acquirer; they scoop up all these receivables from all the merchants everywhere, of all different kinds, they then bundle them, they deliver them to MasterCard or your Visa pays them, the MasterCard sends them to the banks that issue the credit cards, in my case, my credit card, send it to my bank, the bank pays them, and then the bank sends me a bill on my credit card, and I pay the bill. So, you got five people: you got the customer, the merchant, the merchant acquirer, Visa or Mastercard, and the bank in a transaction to buy one candy bar. 

But, and you can make that more efficient, but the point is all those parties are private, the government is not in that chain I just described.  I have a bank, a big bank, do they know I bought a candy bar or a book or made a charitable contribution? Yeah, they know because I use my credit card, but the government doesn't know, and in order for the government to find out, they'd have to issue a warrant, a search warrant or a subpoena, go through some judicial process to process a law under the fifth 14th amendments to get that information, and that would have to be run by a judge, and a judge would probably say no because, absent a crime or some sort, you can't do it. 

But if the government has the ledger, which is what the Central Bank digital currency implies, they don't have to go to the private sector; they've got that information now, and they're like, hey, it's better, faster, cheaper, you know, eliminate all these middlemen etc. Okay, that's true, but there's a cost, a big cost, which is that they can now use that ledger for government surveillance. 

So, let's say they want to profile you. They say, okay, did you buy a MAGA hat, you know, Make America Great Again? Did you make a political contribution to Elise Stefanik, who's like the number three Republican in the house? Did you buy religious goods, you know, did you buy a book, why I love Trump or why I love Jesus or whatever? Did you make a charitable contribution to a charity that supports some of our constitutional rights? They could take all that information, they would have it because they have the ledger, they could use artificial intelligence to profile you, and they could decide that you were what Biden calls an enemy of the people.

And here, go back to the September 2022 Biden speech in Philadelphia in front of Independence Hall where— I call it, you know, lighting and art direction by Leni Riefenstahl, who was a good friend of Adolf Hitler. She produced the Nuremberg rallies in the 1930s for the Nazi party; they basically took her playbook— you know, blood-red vertical lighting, military guards on side, Biden at the podium, you put the camera low so you're looking up at the fearless leader. I mean, I just looked at that, go okay, they just took Leni Riefenstahl's movie, Triumph of the Will, and copied it, which they did.

So, Biden defined half the American people as enemies of the people. He did a MAGA profile and basically said, you know, you're enemies of the people. Well, now take that rationale, take that statement, take all the information I just described, use artificial intelligence, and you can profile people and run them down with FBI goon squads. Okay, so we warned people about that. We started two years ago, we were very intensively sounding this warning in 2022. 

We got a very good reaction from our readers like, yeah, we'd like to know more about this, etc. Here's the news, and here's the headline you're referring to. Everything I just described has happened already without Central Bank digital currencies. It was just revealed through leaks or whistleblowers, but with documentation, and now the Republicans in the house of representatives are demanding more. 

The FBI did exactly what we talked about without Central Bank digital currencies, without warrants, without subpoenas. They basically wrote a letter to the big banks— now we know Bank of America, Bank of America has been named— as speculation, I'm not going to speculate on who else got these letters, but it would be reasonable to infer that it's City bank, Wells Fargo, JP Morgan Chase, and a few others. Again, want to be clear, I don't know that for a fact, but why would they send it to one bank and not the others? We do know Bank of America for a fact. And the letter said, give us your records on anybody who did the following: so, pay on Venmo, pay on Zelle, pay through other payment channels, PayPal, whatever, there are a lot of them out there, where either the message traffic, because you know people send, “hey here's for something,” and they put a little description or whatever, where they use the word MAGA, they use the word Trump, where other triggers were.

So, this is the US government, okay, so the Bill of Rights applies. So, they're basically violating First Amendment rights because you're allowed to support Trump, you're allowed to say— I mean, MAGA stands for Make America Great Again, that's an opinion, that's a view, what's wrong with that? And even if you don't like it, too bad, it's protected under the First Amendment. So, they're trashing your First Amendment rights, number one. 

Secondly, and it's not in this article you're showing that, but separately we've learned that the FBI has targeted the Catholic Church, particularly Catholics who celebrate Latin Mass. I've been to Latin Masses, they're wonderful. I've been to Mass at St. Peter's in Rome, guess what, they do it in Latin. And so, but that somehow means you're a terrorist, right? So then, they say, we want to see if you bought a Bible. Well, so there's a First Amendment violation because the First Amendment guarantees freedom of religion and freedom of speech, so they're trashing the First Amendment, they're trashing the Second Amendment, which basically says the right of the American people to keep and bear arms shall not be infringed, because that's where Cabela's, you've got it here, your thing, Cabela's and Dick's Sporting Goods, and I understand Bass Pro Shops was another one, why? Because they sell guns and ammo. 

They don't really care if you bought a kayak or a tent; they do care if you bought guns and ammo. So, they're trashing your Second Amendment rights. And then finally, the whole thing is a violation of the Fourth Amendment because the Fourth Amendment protects Americans against unreasonable searches and seizures. 

This is a search, by short step to a seizure when they break down your door, but this is a search. So, no warrant, no subpoena, and by the way, to get a warrant or subpoena, you need probable cause. Where's the crime? I said, I wrote one article, I said, well, if you shoot somebody and you're wearing a MAGA hat, by the way, the violence is not coming from the right, it's coming from the left, but if you shoot somebody and you're wearing a MAGA hat, you get arrested for shooting somebody, you don't get arrested for the hat. 

In other words, buying a hat is not a crime, it doesn't indicate a crime, it doesn't give you probable cause for anything. And so, if you're saying that just typing the word MAGA in a Venmo relay message is enough to demand information from Bank of America, or I presume the other big banks, you're trashing the Fourth Amendment as well.

So, like, what part of the Bill of Rights are you not attacking, Joe Biden, and your minions, and your squads in the FBI? So, again, this is shocking. We warned people about it for almost two years in the context of Central Bank digital currencies because it would be very easy to do this with Central Bank digital currencies, but what we've now learned is that they're not waiting for Central Bank digital currencies. CBDCs are coming, but they're not waiting for it, they're doing it right now. And another thing you didn't mention, but just stacks on all this, you were first to coin the term “Biden bucks,” people have since used it, politicians, other folks, and I believe your writing and your arm waving in that situation is what got CBDCs on the radar. Trump just announced part of his platform; he's going to try and ban CBDCs. So, again, it's all this stuff's coming together. So, I think it is becoming a very big concept in the 2024 election; that's probably why they want to hear it on Fox Business.

We were also the first ones to use the phrase “green new scam.” So, yeah, we're, you know, we're keeping our readers a year, year and a half ahead of the curve. Thanks for that breakdown, Jim. And folks at home, you heard it here first on Paradigm Press Channel, we're breaking down these things as soon as we can get you the information. That's why it's imperative, make sure you're subscribed to the channel, make sure you give us a like, help feed the algorithms that control some of these videos, and get this story out to the people. Biden bucks, Central Bank digital currencies, this is on the mouths of politicians; Trump's already saying he's going to ban them. This is big news for the 2024 election and beyond, so make sure you stay tuned, we'll be covering it, and anything you need to know. Thanks for tuning in.


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