Robert F. Kennedy Jr, the nephew of former President John F. Kennedy, who ran against Joe Biden for the Democratic nomination in the 2024 elections, claimed that the Federal Reserve is responsible for the unsettling state of the financial sector. Kennedy considers cryptocurrencies like bitcoin to be potential lifeboats for individuals when the market inevitably crashes.
Pro Bitcoin and Anti CBDC
Robert F. Kennedy Jr, in his campaign for the 2024 US presidential campaign, holds controversial viewpoints on hot-button topics. He is a vocal environmental activist, a critic of the COVID-19 vaccine program, and opposed to nuclear power. Robert F. Kennedy Jr also expressed support for bitcoin recently in a tweet. He accused the Federal Reserve of printing a vast amount of money in collaboration with leading banks between 2008 and 2022, predicting that it could cause additional monetary instability in the future. He outlined bitcoin as an asset that could provide individuals with an escape route during the impending turmoil:.
“Cryptocurrencies like Bitcoin give the public an escape route from the splatter zone when this bubble invariably bursts. So the White House is colluding with the banksters to keep us all trapped in the bubble of profiteering and control.”
Kennedy also blames President Joe Biden for “weaponizing” DOJ, FDIC, and other agencies to force some banks to stop working with cryptocurrency entities at the end of 2022. The collapse of well-known Silicon Valley Bank, Silvergate Capital, and Signature Bank, which served multiple crypto clients, recently shook the US banking system, causing significant losses to investors.
Furthermore, Kennedy is against the potential launch of a digital dollar, claiming that the government could use it as the “ultimate mechanism for social surveillance and control.”
DeSantis is Against CBDCs, too
Ron DeSantis, Governor of Florida and potential Republican presidential candidate, also opposes the creation of a CBDC in the USA. He criticized the product as a surveillance tool and proposed a total ban of it in Florida. He likened a potential digital dollar to China’s e-CNY, where the central bank allegedly uses it to monitor transactions and “cut off access to goods and services.” DeSantis also pointed out the situation in Nigeria, where the authorities limited ATM withdrawals to promote the adoption of eNaira, causing massive protests in February.
Featured Image Courtesy of STAT News
