Robert F. Kennedy Jr., a candidate who supports financial liberty, is opposed to CBDCs and warned of the dangers of government conspiracy for control.
Kennedy Jr., a Democratic presidential candidate, has lately made news for his pro-digital and financial independence attitude. In particular, he has garnered attention for his opposition to central bank digital currencies (CBDCs), debunking, and digital IDs. He running for president of the United States. Kennedy argues that central bank digital currencies (CBDCs), such as FedNow, the instant payment infrastructure of the Federal Reserve that is scheduled to start in July, are the first step toward financial enslavement and political dictatorship.
At the moment, 114 nations, which together account for more than 95% of the world's GDP, are investigating CBDCs. The CBDCs have been praised by the administration of Vice President Joe Biden for having the potential to provide major advantages. However, major central banks have acknowledged that CBDCs would not have the same level of privacy as cash and will be programmable. This means that governments will be able to monitor what CBDCs are spent on and place spending restrictions on them. Because of this, central bankers or governments have the potential to monitor and regulate financial transactions. This leads to what Kennedy calls "the ultimate mechanisms for social surveillance and control."
Kennedy cautions that CBDCs, unlike cash transactions, are identity-verified, which enables governments and central banks to acquire extra data and construct an expanding social credit score that dictates how individuals may spend their money. Cash transactions, on the other hand, are not subject to identity verification. Kennedy thinks that such a score may be related to compliance with arbitrary government directives, such as vaccine requirements, which she cites as an example. A crackdown on cryptocurrencies and other assets that serve as an "escape route" from government control of the financial system is another one of his forecasts. He believes that governments would exploit the COVID-19 epidemic and the banking crisis as a pretext to bring in CBDCs.
Kennedy is of the opinion that the crackdown on cryptocurrencies has already begun, with the Biden White House gathering bankers to join in a broad crackdown to destroy the cryptocurrency business, and labeling it as "Operation Chokepoint 2.0." Kennedy's beliefs are supported by the fact that the Biden White House has organized bankers to participate in the widespread crackdown. He cautions that such a crackdown will prevent access to exit ramps, will eliminate alternative railways, and will tighten government control over the political as well as the financial sectors.
On the other hand, influential members of the Democratic Party, such as the administration of former Vice President Joe Biden and Senator Elizabeth Warren, have shown support for CBDCs while simultaneously attacking cryptocurrencies. The government of Vice President Joe Biden has plans to target decentralized cryptocurrency platforms in order to require client identification from those markets. Kennedy issues a warning that if these markets are successful, they will be included in the same centralized financial dragnet as banks and CBDCs, in which every transaction is monitored, and governments restrict who is allowed to participate in the market.
Because of his stance in favor of digital and financial freedom, Robert F. Kennedy Jr. is at odds with many members of the Democratic Party, many of whom are in favor of CBDCs and financial monitoring. Kennedy is of the opinion that CBDCs are the first step along the path to political dictatorship and financial enslavement, so established the pinnacle of all instruments for social monitoring and control. Kennedy cautions that the need for digital and financial independence is more important now than it has ever been before since governments are implementing CBDCs and cracking down on cryptocurrencies.
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