RFK Jr. and Donald Trump Both Vow to Stop the Fed From Issuing US Central Bank Digital Currency if Elected
U.S. presidential candidates Robert F. Kennedy Jr. (RFK Jr.) and Donald Trump have independently promised the American people to stop the creation of a central bank digital currency (CBDC) in the U.S. if elected President. “I will protect Americans from government tyranny,” Trump said, adding that a CBDC “would be a dangerous threat to freedom.” Kennedy similarly warned that a digital dollar “will allow the government to surveil all our private financial affairs.”
Donald Trump and Robert F. Kennedy Jr. Both Vow to Stop CBDC Creation if Elected
U.S. presidential candidates Donald Trump and Robert F. Kennedy Jr. (RFK Jr.) have independently voiced strong opposition to the creation of a central bank digital currency (CBDC) in the U.S.
Kennedy posted on social media platform X last week that he has been discussing financial freedom in the 21st century with Dr. Joseph Mercola, an osteopathic physician and best-selling author. The presidential hopeful promised: “As president, I will end the efforts to move toward a CBDC.”
— Robert F. Kennedy Jr (@RobertKennedyJr) January 24, 2024
In October last year, Kennedy promised that if he is elected President of the United States, he will “make sure that bitcoin is protected, that people can keep their own wallets, that the current White House war on bitcoin will be over, that transactions will be protected and encouraged.”
RFK Jr. also previously stated that “Cryptocurrencies like bitcoin give the public an escape route from the splatter zone when this bubble invariably bursts,” emphasizing: “We should be wary since CBDCs are the ultimate mechanisms for social surveillance and control.” He cautioned: “While cash transactions are anonymous, a CBDC will allow the government to surveil all our private financial affairs. The central bank will have the power to enforce dollar limits on our transactions restricting where you can send money, where you can spend it, and when money expires.”
Similarly, former U.S. President Donald Trump made a promise to the American people during a recent rally that as President, he will never allow the creation of a digital dollar. “I will protect Americans from government tyranny,” he exclaimed, adding that a central bank digital currency would give the federal government “absolute control over your money.” Trump stressed:
This would be a dangerous threat to freedom, and I will stop it from coming to America.
The former U.S. president credited Vivek Ramaswamy for bringing the danger of CBDCs to his attention. Ramaswamy, a former presidential candidate, recently exited the race and threw his support behind Trump. Following Trump’s CBDC statement, Rep. Tom Emmer (R-MN) said he looks forward to working with Trump to stop the Fed from creating a CBDC.
Despite the buzz surrounding central bank digital currencies, the Federal Reserve remains far from launching its own CBDC. Fed Chair Jerome Powell stated in September last year that no decision has been reached on a digital dollar, and it won’t come for “at least a couple of years.”
What do you think about Donald Trump and Robert F. Kennedy Jr. vowing to stop the creation of a central bank digital currency in the U.S.? Let us know in the comments section below.