United States Presidential candidate Robert F Kennedy Jr said a Central Bank Digital Currency (CBDC) would lead to government control over personal finances and vowed to end all efforts towards its development.
In a recent video posted on X (formerly Twitter), Kennedy highlighted his plans for financial freedom and reiterated his stance on CBDCs and Bitcoin (BTC) ahead of the elections.
Dr. Joseph @Mercola and I discuss financial freedom in the 21st century. As president, I will end the efforts to move toward a CBDC. #Kennedy24 pic.twitter.com/gao3D1HAeM
— Robert F. Kennedy Jr (@RobertKennedyJr) January 24, 2024
Against a United States CBDC
The Democratic candidate notes that he disagrees with a move by the United States Government to launch a CBDC calling it an instrument of government control over citizens.
This control and scrutiny over each transaction like an alcohol or medicine purchase will heighten political pressure on users and result in blackmail.
“It’s a calamity for human and civil rights. In China, they used Central Bank Digital Currencies and made them programmable so that if your social credit score drops below a certain number for example… like your make below your nose, the government can shut off your money.”
According to the candidate, the post was part of a discussion on financial freedom in the 21st century with Dr Joesph Mercola who hosts a podcast “Take Control of Your Health.” Mercola also researches alternative COVID-19 treatments.
Describing a horrific world of CBDC’s he added that it would essentially place citizens under house arrest as they won’t be able to buy gas or airplane tickets without the government’s approval.
This will lead to users behaving in a certain way to maintain the status quo taking away their freedom and giving the government “absolute control.”
If elected President, Kennedy vowed to end all efforts to move towards a CBDC in the country and uphold paper currency (fiat) alongside other alternatives.
Kennedy Stands with Bitcoin
Kennedy has been a long-term public defender of Bitcoin and has restated his views as he termed BTC a better alternative than cash.
He noted that alternatives like Bitcoin give users freedom and better protection amid inflation “and all of the other hazards that come with fiat currencies.”
Kennedy’s campaign began accepting Bitcoin and it was later revealed that he holds between $100,000 and $250,000 worth of Bitcoin.
Previously, he warned against the dangers of CBDCs in an interview on the “What Bitcoin Did” podcast criticizing government-backed crypto as a threat to daily financial freedom as authorities and banks will track every transaction.
“Transactional freedom is critical and Bitcoin is the answer to that because nobody controls it. It’s this incredibly elegant solution that gives us transactional freedom and freedom all over the world.”
Former US President Donald Trump has also vowed to block all attempts to create a CBDC in the United States of elected President making cryptocurrencies a heated topic ahead of the polls.