Kennedy and Trump Unite Against Central Bank Digital Currency, Promote Bitcoin
Summary:
Presidential candidate Robert F. Kennedy Jr. has voiced opposition to the introduction of a central bank digital currency (CBDC) in the US, stating it poses a threat to individual and civil rights. Joining Donald Trump's stance, Kennedy argued that a CBDC could allow government tracking of personal transactions, leading to potential blackmail. He pledged to halt efforts to introduce a CBDC if he wins the presidency, while promoting the benefits of Bitcoin. This follows his historic move of being the first candidate to accept Bitcoin for campaign donations. Kennedy is currently striving for recognition on state ballots after leaving the Democratic Party.
Presidential hopeful Robert F. Kennedy Jr., known for being the first to accept Bitcoin for campaign funding, echoes rival Donald Trump's commitment to opposing the advancement of a central bank digital currency (CBDC) in the United States. On January 24, Kennedy shared an excerpt from a media interview where he discussed the potential risks of a CBDC. This conversation took place with Joseph Mercola, an advocate of unconventional medicine and supporter of alternative COVID-19 treatments. Mercola hosts a health-centred podcast named Take Control Over Your Health.
In a short video clip, Kennedy argues that a CBDC would enable the government to track every single transaction made by an individual, leading to potential coercion or blackmail. He declared, “A CBDC poses a major threat to individual and civil rights." Kennedy cited China's approach where its CBDC, known as the "digital yuan," is tied to a widespread social credit system. U.S. politicians believe the Chinese government can disable personal access to funds if surveillance cameras spot someone not adhering to face mask rules.
In his presidential campaign, Kennedy pledged to terminate all attempts to introduce a CBDC if elected, and take all necessary steps to preserve physical cash. He also noted that Bitcoin offers superior protection compared to physical money.
Donald Trump, another contender for presidency, has also publicly opposed CBDC twice, affirming it would not be allowed under his rule. Despite previously having no nuanced views on cryptocurrency apart from a few critical comments about Bitcoin during his presidency, former Republican rivals Vivek Ramaswamy and Florida Governor Ron DeSantis broached the subject during their own campaigns. Both endorsed Trump after withdrawing from the presidential contest.
Robert F. Kennedy Jr., who exited the Democratic Party in October 2023, continues to struggle for recognition on state ballots, given that achieving ballot status as a party candidate demands fewer voter signatures than running as an independent. In January 2024, he expressed a readiness to run as a Libertarian Party candidate.
Published At
1/29/2024 11:32:00 AM
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