On April 5th, White House Hopeful Robert F. Kennedy Jr, filed documents with the United States Federal Election Commission to run as a Democratic presidential candidate in 2024.
Kennedy, the nephew of former President John F. Kennedy and son of former Attorney General Robert F. Kennedy, is expected to officially announce his candidacy on April 19 in Boston, Massachusetts. If he decides to run, Kennedy would challenge current Democratic President Joe Biden.
As reports of his candidacy spread, Kennedy tweeted his position on central bank digital currency (CBDC). On April 5th, Kennedy posted a tweet warning about the perceived dangers of CBDC.
While CBDC is becoming an increasingly political issue in the United States, Kennedy’s statement stood out for its bluntness.
However, his tweet contained some factual confusion. Kennedy claimed that the Federal Reserve would introduce its “FedNow” CBDC in July. The Federal Reserve is set to launch the FedNow instant payment system in July, but it will not be a CBDC.
The Federal Reserve has repeatedly stated that it would issue a CBDC only with a Congressional mandate.
Kennedy, in line with many opponents of CBDC, paints a worst-case scenario of a “CBDC tied to digital ID and social credit score,” disregarding the numerous design options for a privacy-protecting CBDC.
He concluded that the introduction of FedNow “is the first step in banning and seizing bitcoin as the Treasury did with gold 90 years ago today in 1933.” However, Kennedy is far from alone in his opposition to CBDC. Many CBDC opponents are on the right.
Republican Governor of Florida, Ron DeSantis, whom many expect to enter the 2024 presidential race, stated in a speech that “the central bank digital currency is all about is surveilling Americans and controlling behavior of Americans.”
Republican Representative Tom Emmer introduced the CBDC Anti-Surveillance State Act into Congress in February. Senator Ted Cruz has also introduced a bill to block the development of a retail CBDC.
In contrast to Kennedy and his fellow Republicans, Massachusetts Democratic Senator Elizabeth Warren is running for re-election on a strong anti-cryptocurrency platform. She is possibly the most vocal opponent of cryptocurrency in the US Congress but has expressed her support for CBDC.
Kennedy’s family has strong ties to Massachusetts, where he is expected to officially announce his candidacy. Running as a candidate from Massachusetts could help him secure a significant number of votes in his home state.
In conclusion, Robert F. Kennedy Jr. has filed documents to run as a Democratic presidential candidate in 2024. He has also expressed his opposition to CBDC, which is becoming an increasingly political issue in the US.
While Kennedy is far from alone in his opposition to CBDC, his claims about the Federal Reserve introducing a CBDC in July are factually incorrect. If Kennedy decides to run for president, he could potentially secure a significant number of votes in his home state of Massachusetts.
White House Hopeful Kennedy
In summary, Robert F. Kennedy Jr.’s recent filings to run as a Democratic presidential candidate in 2024 has brought attention to his stance on central bank digital currency (CBDC). While he opposes CBDC, he is not alone, with many opponents on the right side of politics.
However, Kennedy’s claim that the Federal Reserve will introduce a CBDC in July is factually incorrect. If he decides to run for president, his strong ties to Massachusetts could give him an advantage in securing votes in his home state.