It calls for a draft, but not just a draft. A civilian draft, of “persons of outstanding experience or ability” without compensation. If they think they need you, they can compel you to work for the government for nothing.
They can, under this order, restrict civilian travel by any mode, including (probably) foot travel. They can ration food. They can restrict water usage, even from private wells. They can ration any and all drugs, including OTC and vitamins. They can collectivize farms. They can take over all energy production, including home solar units.
It also allows for drafting civilians. If they have need of your skills, they can compel you to work for no compensation.
All this not in a time of war, but in time of “National Emergency” (several EO national emergency states already in place) or even in Peacetime.
A more restrained interpretation exists; my basic point is that the language is there and has always been there for martial law and complete control over civilians. If you still feel fine about that then there is nothing to worry about.
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