Bitcoin is an “escape route” from the turmoil caused by the Fed
Robert F. Kennedy Jr – the nephew of former President John F Kennedy, who challenged Joe Biden for the Democratic nomination in the 2024 election – blamed the Federal Reserve for the current troubling state of the financial sector.
He believes cryptocurrencies like bitcoin can serve as lifeboats for individuals “whenever this bubble bursts.”
Pro Bitcoin and Anti CBDC
The 2024 US presidential campaign includes some interesting names, such as Robert F. Kennedy Jr – a nephew of John F. Kennedy (assassinated in 1963). The Democratic candidate has controversial views on many provocative topics. For example, he is a fierce critic of the COVID-19 vaccination program, an outspoken environmentalist and an opponent of nuclear power.
In a recent chirping, Kennedy also presented himself as a bitcoin supporter. He claimed that the Federal Reserve had colluded with a number of leading banking institutions between 2008-2022 to print a colossal amount of money. According to him, this policy could trigger further monetary imbalance in the future, outlining BTC as a resource that could provide individuals with an “escape route” amid the eventual turmoil:
“Cryptocurrencies like Bitcoin give the public an escape route from the splatter zone when this bubble always bursts. So the White House works with the bankers to keep us all trapped in the bubble of profiteering and control.”
Kennedy went further, accusing incumbent President Joe Biden of “weaponizing” the DOJ, FDIC and other agencies to force some banks to halt operations to cryptocurrency entities late last year.
Remember that the collapse of the well-known Silicon Valley Bank, Silvergate Capital and Signature Bank recently shook America’s banking system. All of them served more crypto customers and caused significant losses to investors.
Subsequently, Kennedy opposed the potential launch of a digital dollar, arguing that the government could use it as an “ultimate mechanism of social surveillance and control.”
DeSantis is also against the CBDC
Ron DeSantis – governor of Florida who may run for president from the Republican side – is also an opponent of the creation of a CBDC in the United States.
He blown up such a financial product as a surveillance tool and proposed a total ban on the territory of Florida. He compared a potential digital dollar to China’s e-CNY, where the central bank reportedly uses it to monitor transactions and “cut off access to goods and services.”
DeSantis also recalled the situation in Nigeria, where the authorities restricted ATM withdrawals to boost eNaira adoption. But this policy asked for massive protests in February.
Featured image courtesy of STAT News
