Presidential Hopeful Warns Against CBDC Threat to Freedom

• Robert F. Kennedy Jr. has disclosed that Central Bank Digital Currency (CBDC) could be used by governments to track user spending. 

• Speaking on Bitcoin, he stated that the asset is an escape route for users during a crisis, and represents freedom. 

Robert F. Kennedy Jr, an environmental lawyer, and anti-vaccine activist who announced in October that he was dropping his Democratic Party bid for president to go independent has made a profound expression on Central Bank Digital Currency (CBDC), and Bitcoin. 

His presidential campaign is hailed by crypto enthusiasts, as they believe that his strong interest in the ecosystem could be the missing link in the digital space. Speaking in an interview with Peter McCormack on the “What Bitcoin Did” podcast, RFK Jr. warned that CBDC could be a threat to personal freedom. According to him, this initiative could be used as a tool by the government to track the personal spending of individuals. 

You can see why central bank digital currencies would be attractive to technocrats and totalitarians because it gives them perfect knowledge of everything you do. Every transaction you make can be taxed. It can be kept track of, and the banks can make money on the friction from every transaction that you make. Nothing is invisible to them. And that takes away a lot of our freedom. And ultimately with central bank digital currencies, they can be programmable.

On top of that, JFK Jr. disclosed that CBDC would be tied to social credit scores. Another thing is that it enables the government to interfere with one’s ability to spend money. 

JFK Jr. Speaks on Bitcoin and How it Addresses Issues Posed by CBDC

While speaking on this, he was campaigning for the adoption of Bitcoin as he believes that the leading crypto asset can address all the challenges that could be posed by CBDC. To him, this is a perfect way of promoting financial freedom worldwide.

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…I’m for freedom. Bitcoin is, for transactional freedom, that’s the most elegant solution.

JFK Jr. recently explained that cryptos like Bitcoin provide an escape route for users when “expected bubbles burst”.

With “Operation Chokepoint,” he believes that the crackdowns on the crypto blocks exit ramps while strengthening the government’s control over financial and political systems. In May, he disclosed at the Bitcoin conference in Miami that he is not an investor, however, he announced to accept campaign donations in Bitcoin. 

A financial disclosure form filed on June 30 disclosed that his family had invested in Bitcoin recently. The report contained a brokerage account that held between $100,001 and $250,000 worth of Bitcoin. However, Kennedy’s campaign manager Rep. Dennis Kucinich came out to clarify that the purchases were made after his speech in Miami. 

In June, Kennedy tweeted that:

Bitcoin is not only a bulwark against totalitarianism and the manipulation of our money supply, it points the way toward a future in which government institutions are more transparent and more democratic.

As of press time, Bitcoin was trading at $37k after surging by 35.52 percent in the last three months to add $9,735.37 to its previous price. 

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