CBDCs and Liberty: Vivek Ramaswamy’s Perspective

Aug 9, 2023

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Vivek Ramaswamy, an upcoming presidential candidate, voiced his concerns regarding CBDCs.

Introduction

Central Bank Digital Currencies (CBDCs) have sparked debates worldwide, with some individuals expressing concerns about their potential impact on personal liberty. Vivek Ramaswamy, a prominent figure, , emphasizing the threats these digital currencies might pose to individual freedoms.

It’s telling that Janet Yellen is pushing for the US to adopt CBDCs, begging Americans to keep up with the Jinpings. No. CBDCs are just the latest trojan horse of the Great Reset and are a clear path to a social credit system that will permanently embed ESG into our currency…

— Vivek Ramaswamy (@VivekGRamaswamy)

China’s CBDC Adoption and Ramaswamy’s Warning

China’s adoption of CBDCs has raised alarm bells for those who value personal freedom. Ramaswamy argues that China’s move to embrace Central Bank Digital Currencies is driven by a desire to control and limit people’s choices. In response, Ramaswamy believes that the United States should steer clear of CBDC adoption, as imitating China’s actions could jeopardize American liberties.

United States and CBDCs: A Cautionary Stance

Ramaswamy is not alone in his concerns about CBDCs. Other prominent figures within the United States share his reservations. Congressman Warren Davidson has gone so far as to call for a complete ban on CBDCs. Davidson likens the Federal Reserve’s involvement in CBDCs to the creation of a powerful tool for manipulation. He argues that Central Bank Digital Currencies could potentially be misused as a means of coercion and control, transforming money into a weapon against personal freedom.

Federal Reserve’s Role and Ramaswamy’s Critique

Ramaswamy further criticizes the Federal Reserve, claiming it has acted detrimentally for the past quarter-century. He underscores that the Federal Reserve’s intentions and actions have not always aligned with safeguarding individual liberties.

Pro- 🇺🇸 U.S. Presidential Candidate Vivek Ramaswamy: “CBDCs are a grave threat to liberty in this country”

— Bitcoin Magazine (@BitcoinMagazine)

Skepticism from Fed Governor Michelle Bowman

Michelle Bowman, a Fed Governor, has expressed skepticism about CBDCs in the past. She highlights concerns about user privacy and the potential negative impact on the banking system. Bowman warns that CBDCs might infringe upon Americans’ freedom to choose how they use and invest their money and resources.

Janet Yellen’s Push and Ramaswamy’s Counterargument

Janet Yellen, a key advocate for CBDC adoption in the U.S., urges the country to follow China’s lead in adopting these digital currencies. However, Ramaswamy counters this argument, asserting that CBDCs are not a benign innovation but rather a Trojan horse for the “Great Reset.” He contends that Central Bank Digital Currencies could pave the way for a social credit system, intertwining Environmental, Social, and Governance (ESG) principles directly into the currency itself.

Preserving the Dollar’s Strength

Ramaswamy’s overarching message is that safeguarding the dollar’s strength requires avoiding the path of digitalization. He warns against the potential consequences of CBDCs on personal freedoms and the broader financial system.

Conclusion

The debate over CBDCs and their impact on liberty continues to unfold. Vivek Ramaswamy’s perspective serves as a cautionary reminder of the potential risks associated with adopting these digital currencies, particularly when considering the lessons learned from China’s approach. As discussions about CBDCs evolve, it remains crucial to weigh the potential benefits against the potential threats they pose to individual freedoms and financial stability.

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