Environmental attorney Robert F. Kennedy Jr. has revealed his intention to join the 2024 Democratic presidential race, setting his sights on the White House. This revelation emerged as Kennedy filed documents with the United States Federal Election Commission on April 5.
Kennedy took to Twitter to express his thoughts on central bank digital currencies (CBDC).
He started by stating, “The Fed just announced it will introduce its ‘FedNow’ Central Bank Digital Currency (CBDC) in July.”
This assertion isn’t quite correct; while the Federal Reserve has indeed announced the FedNow direct payments system for July, it is not itself a CBDC. However, the system could help in facilitating a future CBDC, something the Biden Administration has signaled support for.
“While cash transactions are anonymous, a #CBDC will allow the government to surveil all our private financial affairs,” Kennedy warned.
“The central bank will have the power to enforce dollar limits on our transactions restricting where you can send money, where you can spend it, and when money expires.”
Kennedy raised further concerns about the potential risks of such technology. “A CBDC tied to digital ID and social credit score will allow the government to freeze your assets or limit your spending to approved vendors if you fail to comply with arbitrary diktats, i.e. vaccine mandates.
“The Fed will initially limit its CBDC to interbank transactions but we should not be blind to the obvious danger that this is the first step in banning and seizing bitcoin as the Treasury did with gold 90 years ago today in 1933.
“Watch as governments, which never let a good crisis go to waste, use Covid-19 and the banking crisis to usher in a new wave of CBDCs as a safe haven from germ-laden paper currencies or as protection against bank runs.”