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- 1 Donald Trump and Robert F. Kennedy Jr. shake hands to oppose CBDC in the US.
- 2 CBDC holds potential risks, losing the grip of Americans on their financial freedom.
- 3 Robert F. Kennedy Jr. is running as a Libertarian Party candidate for the 2024 election.
Following Donald Trump, another US presidential nominee Robert F. Kennedy Jr. stated resistance to Central Bank Digital Currencies (CBDC). Considering the future of financial freedom, CBDC doesn’t seem suitable for both candidates and could pose to personal financial liberty. Both the candidates intend to protect the Americans from the government autocracy.
Why Robert F. Kennedy Jr. is Opposing CBDC?
As digital assets and stable coins are gaining popularity, CBDC is created as virtual money by the central bank to offer an alternative to cryptocurrencies. The digital liability of the central bank is majorly available to the general public and is widely accepted in countries including The Bahamas, Jamaica, and Nigeria.
However, the concept doesn’t seem to get much favor in the US as two US presidential nominees including Donald Trump and Robert F. Kennedy Jr. declared their resistance to CBDC.
On January 27, Robert F. Kennedy Jr. disclosed his running as a Libertarian Party nominee for the 2024 election. He had good relationships with the Libertarian Party and is highly focused on the commitment to financial autonomy online. After discussing with Dr. Joseph Mercola, Robert F. Kennedy Jr signals rejection to CBDC.
A tweet from Robert Kennedy’s account on January 24 confirmed the same.
To protect digital assets like Bitcoin, Donald Trump and Robert F. Kennedy Jr. shake hands. Cryptocurrencies allow individuals to maintain personal wallets and transaction security but CBDC permits the government to observe and investigate private financial affairs.
In simple terms, CBDC is vanishing the meaning of decentralization and allowing the government to watch all the private financial affairs of individuals.
Donald Trump’s Perspective on CBDC
Another potential candidate for the 2024 presidential election, Donal Trump also favoring the rejection of CBDC. He promised to the individuals to prevent the control of the government on Americans’ finances through virtual money.
Trump made the promise after having a meeting with Vivek Ramaswamy. According to Ramaswamy, the CBDC holds a potential risk, permitting the government to watch personal financial liabilities.
“A CBDC is a threat to liberty as it develops a mechanism for the legislative body to be able to vanish individual’s bank account,” said Ramaswamy in a meeting with Donald Trump on Wednesday.
Furthermore, during a campaign stop in New Hampshire, Trump announced its opposition to the adoption of CBCD to safeguard public financial freedom.
“CBDC is a dangerous threat to freedom”, said Donald Trump.
Both Donald Trump and Robert F. Kennedy Jr. are strong candidates for the presidential election and trying to protect Americans from government tyranny. Digital or virtual money in the form of a Dollar is used as an alternative to cryptocurrencies but acts as a legal tender and is controlled by the government.
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
