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Two of the Three Presidential Candidates Oppose a Government Digital Currency

Robert F. Kennedy Jr. recently joined Donald J. Trump in strongly denouncing a central bank digital currency (CBDC).

His concerns are worth paying attention to and echo our worry that a digital currency run by the government is a great threat to Americans’ financial privacy.

“I’m against central bank digital currencies,” Kennedy says, “because that is the path to getting us where China is today. That’s where they started, that’s where all these other countries started with central bank digital currency, and it’s the end of freedom.” He fears the government will use the technology along with facial recognition to track the activities and purchases of citizens.

“Transactional freedom is as important as freedom of the press,” he insists.

Meanwhile, Biden’s economic team has been trying to lay the initial groundwork for a digital dollar. They sound all too eager to go, go, go – which makes us all the more nervous.

Investment adviser and self-described libertarian Jim Rickards agrees with RFK that CBDCs “can be used to destroy privacy and create a total surveillance state. Biden can combine CBDC ledger information with artificial intelligence to profile and target enemies of the state – i.e., MAGA Republicans.”

These objections from Kennedy and Rickards sound a tad over the top to us, but best to err on the side of caution when it comes to expanding government power.

No to a digital currency.

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