American Politicians Are Against US CBDC

Apr 7, 2023

온라인 슬롯 사이트

Several politicians have recently stood up against US CBDC stating that it would lead to “financial slavery”.

Presidential Nominee Against The CBDC

Robert F. Kennedy Jr. has filed papers to run as a Democratic presidential nominee in 2024 according to various reports. He is expected to officially announce his candidacy on April 19 in Boston, Massachusetts, which is significant as it is the state with which his family has strong ties. Kennedy is the son of former US Attorney General Robert F. Kennedy and the nephew of former US President John F. Kennedy.

CBDC = “Financial Slavery”

Kennedy, an environmental lawyer who gained notoriety as an anti-vaccination activist, has also about central bank digital currency (CBDC). In a tweet, he stated that CBDCs could lead to “financial slavery” and political tyranny. Although CBDCs have become a political issue in the United States, Kennedy’s tweet was notable for its directness and some factual confusion. While the Federal Reserve has announced it will launch an instant payment system called FedNow in July, which is not a CBDC, Kennedy stated that the Fed has just announced its CBDC ‘FedNow’ for July.

The Fed just announced it will introduce its “FedNow” Central Bank Digital Currency (CBDC) in July. CBDCs grease the slippery slope to financial slavery and political tyranny.

While cash transactions are anonymous, a will allow the government to surveil all our private…

— Robert F. Kennedy Jr (@RobertKennedyJr)

Kennedy paints a worst-case scenario of a “CBDC tied to digital ID and social credit score,” ignoring the many design options for privacy-preserving CBDCs. Kennedy is concerned that the government could use CBDCs to track individuals’ financial transactions, leading to a loss of privacy and personal freedoms.

Opposition

Kennedy is not alone in his opposition to CBDCs. Many on the Right, including Republican Governor Ron DeSantis and Representative Tom Emmer, who introduced an anti-state surveillance CBDC bill in Congress in February, share his concerns. Senator Ted Cruz has also introduced a bill to block the development of a retail CBDC.

The Other Side

On the other hand, Massachusetts Democratic Senator Elizabeth Warren is running for reelection on a strong anti-cryptocurrency platform, although she has expressed support for the US CBDC. She is perhaps the most vocal opponent of cryptocurrency in the US Congress.

Summary

Robert F. Kennedy Jr.’s candidacy for the Democratic presidential nominee in 2024 has drawn attention to his opposition to the US CBDC. Although many on the Right share his concerns, it is worth noting that Democratic Senator Elizabeth Warren, who is running for reelection, has also expressed opposition to cryptocurrency but supports CBDC. Kennedy’s concerns center around the potential loss of privacy and personal freedoms that could result from the government’s ability to track individuals’ financial transactions.

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