Posted on 01/23/2024 6:07:48 AM PST by libh8er
Donald Trump has doubled down on his opposition to central bank digital currencies (CBDCs) at a rally in Laconia, New Hampshire Monday Night.
“Vivek wanted this: I will never allow the creation of a Central Bank Digital Currency,” Trump said, referring to crypto-friendly candidate Vivek Ramaswamy, a critic of CBDCs, who recently suspended his campaign after a disappointing showing in Iowa.
“This would be a dangerous threat to freedom, and I will stop it from coming to America,” he has previously said. “Such a currency would give a federal government, absolute control over your money. They could take your money, and you wouldn’t even know it was gone.”
Recently, Florida Governor Ron Desantis, another CBDC critic, also suspended his campaign and endorsed Trump.
“It’s clear to me that a majority of Republican primary voters want to give Donald Trump another chance,” he said in a video posted online. “I signed a pledge to support the Republican nominee, and I will honor that pledge.” With DeSantis and Ramaswamy out of the primary, crypto might now take a back seat, CoinDesk’s Jesse Hamilton recently wrote.
Digital assets have not been a central issue in the 2024 U.S. presidential race but have kept reappearing in the spotlight as a peripheral topic by Republican candidates, but with recent candidate dropouts and Nikki Haley’s lack of focus on crypto, its prominence in discussions may further diminish.
Regardless, CoinDesk reported last year that for DeSantis’ office in Florida – as Governor, not the Republican primary candidate – CBDCs were one of the hottest topics, suggesting that voters might want to hear more.
“It would help if someone explained to the voting public, just how a CBDC might work and why it is a threat to their freedom.”
You will only be allowed to buy bugs, and bullets will be a new currency.
Thanks. You confirmed my suspicion that there’s a lot more going on than most mere mortals understand.
ARGENTINA STOLE citizens funds 1 times.
Said it was to “save the bankrupt country”.
Every personal savings account-—Pension account—NON-PUBLIC EMPLOYEE pension account/Money Market account was taken electronically between Fri PM & Monday AM.
NO WARNING.
They repeated this when the country went bankrupt a 2nd time.
Last I knew Argentina is teetering on a 3rd bankruptcy.
EXACTLY what could happen here.
Think you can live without ANY CASH???
REVIEW THAT REAL FAST.
CERTAIN PURCHASES COULD BE DENIED-— HOW’S THAT???
Democrats in the US were making noises about doing the same in the last years of Obama's residency.
And certain transactions can be shut off from even happening.
One interesting point never mentioned that I think those unfamiliar with Blockchain are confused by is the “how does tracking happen” part. “Digital Coin” is just one of many uses of Blockchain technology. Essentially the technology has a ledger built in and every transaction entered into the ledger can be used to increase the crypto security of the ledger. There are many other expressions of Blockchain tech based on this tracking by ledger by crypto (think document security and verification or voting security and verification).
But people want money with these features. Government wants control with these features. For government once they put a “key” in that coin that says this “coin” is YOU, that’s where their control comes from everytime you use it and as it reports its use to the government.
The crypto security is a whole issue itself but basically only you and the government can “see” the ledger but the government holds the controlling half of the encryption.
Do a search on “international blockchain conference”
It’s amazing...
I vaguely understand blockchain, but the problem with it is, the government will never allow a digital currency that they cannot control, for both valid reasons, and extremely BAD reasons. (thank you for the suggestion, I do intend to learn more about it)
We cannot allow them to foist this on us.
Economic Freedom and Personal Freedom are inextricably intertwined. One cannot be teased out from the other and leave it intact.
You destroy one, you destroy the other. And a digital currency that would be “acceptable” to a government will NEVER allow financial freedom.
That said, Blockchain Technology is something that can and should be used for good...in well designed systems.
And that is the rub, isn’t it?
“Your EVERY move/purchase will be tracked. How’s that?”
Incomplete. It’s important to note that ANY purchase can also be prevented - don’t behave, then no beef for you or your family.
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