Two prominent U.S. presidential candidates, Robert F. Kennedy Jr. and former President Donald Trump, have taken a resolute stance against CBDCs (central bank digital currencies). They assert that the adoption of such a currency poses a threat to financial privacy and autonomy.
Kennedy Jr.’s Libertarian aspirations
Robert F. Kennedy Jr., who is exploring the possibility of a presidential bid, has voiced his unwavering opposition to CBDCs. He is committed to safeguarding financial autonomy, asserting, “As president, I will end the efforts to move toward a CBDC.” This statement came during discussions with Dr. Joseph Mercola about the future of financial freedom.
Kennedy Jr., considering running as an independent candidate to secure a place on ballots nationwide, has also shown openness to accepting a Libertarian nomination. He acknowledges a positive relationship with the Libertarian Party, emphasizing his dedication to preserving the people’s freedom to use cryptocurrencies like Bitcoin. His aim is to ensure individuals can maintain personal wallets and conduct secure transactions. Kennedy Jr. warns that CBDCs could enable government surveillance of private financial affairs, raising concerns about privacy and control.
Trump’s opposition to CBDCs
Former President Donald Trump has joined the ranks of CBDC opponents. Speaking at a recent rally, he pledged to prevent the federal government from exercising control over Americans’ finances through a cryptographic financial system under the control of the Central Bank. Trump’s stance is influenced by advice from Vivek Ramaswamy, who has endorsed his candidacy. This alignment reflects a shared commitment to resisting the encroachment of Central Bank Digital Currencies on financial freedoms.
While both Kennedy Jr. and Trump oppose Central Bank Digital Currencies, it’s important to note that Kennedy Jr. is not being considered for the vice-presidential position within the Trump campaign. This clarification comes from Chris LaCivita, the senior adviser to the Trump campaign.
Federal Reserve’s ongoing evaluation
Despite the strong opposition to CBDCs from these presidential hopefuls, the Federal Reserve has not yet finalized plans for a digital dollar. Fed Chair Jerome Powell has confirmed that a decision on this matter remains years away. The debate surrounding Central Bank Digital Currencies continues to evolve as experts and policymakers weigh the potential benefits and drawbacks of introducing a digital version of the U.S. dollar.
Robert F. Kennedy Jr. and Donald Trump, both vying for the U.S. presidency, have made their opposition to Central Bank Digital Currencies pretty clear. Kennedy Jr., with a focus on financial autonomy and privacy, vows to end efforts toward CBDC adoption. Trump, influenced by Vivek Ramaswamy’s advice, promises to protect Americans from government control through CBDCs.
