Two U.S. presidential candidates, Donald Trump and Robert F. Kennedy Jr., have expressed their strong opposition to the adoption of central bank digital currencies (CBDC). Both candidates have made it clear that they are against the U.S. moving towards this form of currency.
Kennedy Jr., who is exploring a bid as a Libertarian candidate, emphasized his commitment to financial autonomy. He stated, “As president, I will end the efforts to move toward a CBDC.” These remarks were made during discussions with Dr. Joseph Mercola about the future of financial freedom.
Kennedy Jr., who is also considering running as an independent candidate, has shown openness to accepting a Libertarian nomination. In a CNN program hosted by Michael Smerconish, Kennedy Jr. mentioned that they have a good relationship with the Libertarian Party.
In contrast, former President Trump, during a rally, promised to prevent the federal government from controlling Americans’ finances through a CBDC. Trump’s stance on CBDCs came after receiving advice from Vivek Ramaswamy, who has since endorsed him.
Both candidates have voiced concerns about CBDCs being potential tools for surveillance and control. Kennedy Jr. warned that while cash transactions are anonymous, a CBDC would allow the government to surveil all private financial affairs. Trump, on the other hand, aims to protect Americans’ financial freedom from government control.
It is worth noting that despite the opposition from these presidential hopefuls, the Federal Reserve has not solidified plans for a digital dollar. Fed Chair Jerome Powell confirmed that a decision on a digital dollar is still years away.
In conclusion, both Donald Trump and Robert F. Kennedy Jr. have taken a firm stance against the adoption of central bank digital currencies in the U.S. They believe that CBDCs could lead to increased surveillance and control over individuals’ financial transactions. However, the Federal Reserve has not yet made any concrete plans for a digital dollar, indicating that a decision is still far off.
