Presidential candidate Robert F. Kennedy Jr. has issued a warning about the Federal Reserve’s new Fednow system and the potential risks of central bank digital currencies leading to financial slavery and political tyranny. In addition, he warned: “We must not ignore the obvious danger that this is the first step to ban and confiscate bitcoins like the Treasury did with gold 90 years ago.”
Robert F. Kennedy Jr. Warns About Fednow and CBDCs
Vaccine skeptic and lawyer Robert F. Kennedy Jr. criticized the Federal Reserve’s Fednow system and central bank digital currencies in a tweet Wednesday, the same day he filed papers to run for president in 2024. He is a nephew of President John F. Kennedy and an American. He is the son of Senator Robert F. Kennedy.
“The Federal Reserve has just announced that it will introduce its Central Bank Digital Currency (CBDC) ‘Fednow’ in July,” he wrote, explaining:
CBDCs grease the slippery slope to financial slavery and political tyranny.
Fednow is the Federal Reserve’s Real Time Gross Settlement (RTGS) system for instant payments. However, the Fed’s CBDC development is separate from Fednow, and Fed Chairman Jerome Powell said last month that the central bank’s CBDC work is still in the early stages of experimentation.
“While cash transactions are anonymous, a CBDC will allow the government to keep an eye on all of our private financial affairs. 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 the money matures,” Kennedy’s tweet continued. “A CBDC tied to digital ID and social credit score will allow the government to freeze your assets or limit your spending to approved providers if you fail to comply with arbitrary dictates, i.e. vaccine mandates.”
“The Fed will initially limit its CBDC to interbank transactions,” Kennedy noted, warning:
We must not be blind to the glaring danger that this is the first step to banning and seizing bitcoin like the Treasury did gold 90 years ago today in 1933.
“Watch how governments, who 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”, the presidential candidate concluded.
Numerous voices have warned against launching a CBDC by the federal government, including US Representative Tom Emmer, who introduced the CBDC Anti-Surveillance Act in February. US Senator Ted Cruz recently introduced a bill to prohibit the Federal Reserve from developing direct-to-consumer CBDCs, and Florida Governor Ron Desantis introduced a proposal in March to ban the use of CBDCs as money in the state. of the.
Do you agree with Robert F. Kennedy Jr. on Fednow and the risks of the government launching a CBDC? Let us know in the comments section.
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