Trump Pledges to Thwart Federal Reserve's Digital Currency Plans
Summary:
Former U.S. president Donald Trump has pledged to oppose the establishment of a central bank digital currency (CBDC) by the Federal Reserve in the U.S, during a campaign speech in New Hampshire. Highlighting concerns over the federal control and potential misuse of funds, Trump declared such a currency a grave risk to individual freedom.
In his quest for the U.S. presidency, former president Donald Trump has pledged his vehement opposition to the establishment of a central bank digital currency (CBDC) by the Federal Reserve in the United States. Commenting at a political rally in Portsmouth, New Hampshire on the 17th of January, Trump declared his commitment to guard Americans from what he perceives as governmental overreach. "I am resolute in my stance against the introduction of a Central Bank Digital Currency," he stated.
His announcement was met with a wave of enthusiastic applause, to which a surprised Trump responded, “It appears you’re all rather well-informed…Impressive New Hampshire, very astute individuals.” He went on to elaborate his standpoint, expressing concerns about the potential for federal control and misappropriation of funds, suggesting, "An umbrella currency like this would essentially place your money under the complete authority of our federal government... they could seize your funds without you even realizing their absence.”
Continuing, Trump painted his view of the CBDC as a severe potential hazard to individual liberty and vowed to block its introduction to the American financial landscape, stating, "This constitutes a grave risk to individual freedom and I am steadfast in my commitment to prevent its arrival in America.” Further details on this unfolding story will be updated as more information is available.
Published At
1/18/2024 6:30:11 AM
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