Democrat Robert Kennedy, who recently revealed he will challenge Joe Biden for the 2024 presidency, is speaking out against a Central Bank Digital Currency.
The digital payment system known as FedNow is set to go live in July, the Federal Reserved announced in March. It's a way to transform the entire U.S. payment system online, departing from paper money and opening the door to trackable and controllable purchases.
But not all Democrats and Republicans see the controversial system in the same light. Holding a vastly different view on the digital currency system than his party leaders, Kennedy is warning that CBDCs "grease the slippery slope to financial slavery and political tyranny."
The risks associated with a CBDC are endless because government authority grows stronger. Rather than untraceable cash purchases, a digital purchasing system allows the government to surveil private financial affairs.
"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," said Kennedy, who is the son of U.S. Senator Robert F. Kennedy and nephew of President John F. Kennedy.
He warns that the central bank will have the power to enforce dollar limits on transactions, restricting where you can send money, where you can spend it, and when money expires.
Kennedy is known for his conflicting views with his Democrat colleagues on issues like abortion and vaccines. The CBDC is just another topic where party politics don't matter; it's up to each individual to do their research and understand the consequences at hand.
SEE ALSO: Cash is king in countering the central bank digital currency agenda
The Federal Reserve has been considering this technocratic move for years, declaring that it “could potentially serve as a new foundation for the payment system and a bridge between different payment services.”
But for freedom-loving Americans, it’s about independence from the government. It’s about self-governance, which is the entire purpose of the Convention of States movement.
Convention of States is a grassroots movement working to call an Article V convention to tell the government to “back off.” We don't want more government surveillance, we want less. Please sign the petition below to let us know you support COS.
