Joyce Coates
County Reporter
Mike Moon, (R-MO-29) accompanied by his wife, Denise, was guest speaker at the monthly meeting of the Benton County Republican Central Committee held Thursday, October 5 at 7 PM in the Warsaw Library meeting room.
Prior to the senator’s presentation, Chairwoman Peggy Berry called the meeting to order for regular business beginning with prayer, the pledge of allegiance, treasurer’s report, and approval of minutes from the previous monthly meeting. Members updated the status of signatures on the Truman Visitor Center petition and announced that a meeting on the matter is scheduled for 6 PM in the Harbor Room of the Warsaw Community Building on Saturday, October 14.
Executive Order 14067 signed March 9, 2022, directed government agencies to report within six months on the pros and cons of creating a central bank digital dollar and cryptocurrency regulations. According to Reuters they suggested how digital currency could be established in the U.S., but did not recommend one way or the other.
Thereafter, a group of major U.S. banks tested it for foreign and bank-to-bank payments.
Senator Moon spoke on the expectation that a central bank digital currency (CBDC) is inevitable and unstoppable, but said “if we do what we can now we may be able to slow it down in Missouri.” Two issues he raised, privacy and cybersecurity, are key concerns of many including not only conservative politicians but investment advisors, independent community bankers, members of the Federal Reserve, and central bankers overseas. The Fed issued a fact sheet in April 2023 that addresses some general concerns, available at: https://www.federalreserve.gov/cbdc-faqs.htm.
Comparing cash to digital currency, Senator Moon held up a US $5 bill, fiat currency backed by the Federal Reserve. “If you paid for something that cost $4 with $5 cash,” he said, “you would get $1 back.” “However, digital dollars are a form of currency, but not necessarily tangible, they would be controlled by the Federal Reserve and implemented by a central state bank.”
He explained that with digital currency it could happen that if you had $100 in your bank account and bought something for $50, you might not get the change back. “It’s frightening, and concerning.” At issue is the potentially unlimited ability of the federal government to control individual’s bank accounts. They point to Canada’s Prime Minister Trudeau for example who blocked protesting truckers’ access to their banking accounts.
Another example is China’s CBDC by which the government controls personal spending.
The convenience of vigilant banks and credit card issuers who monitor unusual activity to prevent fraud against their clients, which can sometimes cause inconvenience, could expand to surveillance under a central bank digital currency system.
That in mind, Congressman Emmer (R-MN) with 60 co-sponsors including Congresswoman Ann Wagner (R-MO), authored the CBDC Anti-Surveillance State Act (https://emmer.house.gov/2023/9/emmer-s-cbdc-anti-surveillance-state-act-passes-financial-services-committee) that was passed from the Financial Services Committee to the House Floor on September 20, 2023. Emmer said the bill, in simple terms, halts government efforts to implement a surveillance tool contrary to the American way of life.
On another subject, several in attendance asked Senator Moon about the status of SB 190 signed by Governor Parson on July 6 that became effective August 28, 2023. The bill gives counties an option to pass an ordinance to give property tax credits to certain senior citizens. They must be eligible to receive social security benefits and must own, live in and be liable for property taxes on their primary residence.
Although the bill passed, it did so without his support, Moon said, “Mine was the only “No” vote.” Citing Article 1, Section 2 of the Missouri Constitution (he brought copies to give out to people who wanted one), he said “the Constitution grants everyone equal rights and opportunities so why not give tax breaks to young people, too?” Teachers, nurses, and retired seniors ineligible for social security are also left out. Therefore, because the tax breaks are not equally applied, and because of his duty to follow the Constitution he opposed the bill. Some of the approximately 20 people present at the meeting agreed with his stance and some did not.
So far a majority of counties, including Benton County, have not passed an ordinance to implement the property tax credits. Five counties have done so: Camden, Greene, Jackson, Laclede, and St. Charles. Each one interpreted the law differently and wrote their ordinances accordingly. SB 190 is not an easy read but for those interested it can be accessed at https://senate.mo.gov/23info/pdf-bill/tat/SB190.pdf.
Near the meeting’s end, the senator answered questions he was asked about the best ways to get representatives attention to what people want and need them to do. Moon said one thing was to look at voting records, including his, to compare how they vote to what they promised to do when campaigning. If they don’t match, he said, tell them you are not happy about it. “Doing the right thing is our job,” he said.
Senator Moon talked throughout his presentation about his faith in God and encouraged everyone to trust in His control over all things. Proverbs 3 has special meaning for him. The senator emphasized as well that as a representative he makes decisions based on his faith and his understanding of the Missouri and U.S. Constitutions.
