November 29, 2023

Robert Kennedy Jr. Warns Against CBDCs, Advocates Bitcoin as an "Elegant Solution" to Preserve Transactional Freedom

Presidential candidate Robert F. Kennedy Jr. is cautioning against the adoption of central bank digital currencies (CBDC), emphasizing the potential threat they pose to individual financial liberties.

During a recent interview on the What Bitcoin Did podcast with Peter McCormack, Kennedy expressed concerns that CBDCs could erode personal freedoms by enabling governments to monitor and record every aspect of an individual's spending habits.

"You can see why central bank digital currencies would be attractive to technocrats and to 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."

Kennedy raised the alarm that CBDCs might be linked to social credit scores, granting governments the authority to restrict individuals' access to their funds for specific reasons.

Contrarily, Kennedy asserted that Bitcoin (BTC) serves as a remedy to the potential threats posed by CBDCs, describing it as an "elegant solution" for safeguarding transactional freedoms.

"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."
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