News - 'No' to CBDCs: Kennedy joins Trump

By Luc Vesters

'No' to CBDCs: Kennedy joins Trump

After former U.S. President Donald Trump made it clear at an election rally last week that he would stop the U.S. government from introducing a digital central bank currency if he were to be re-elected president, his opponent Robert F. Kennedy Jr. has now joined them.

In a discussion with Dr. Joseph Mercola, presidential candidate Kennedy said, "As president, I will put an end to efforts to create a CBDC," because the creation of such a digital central banking currency would undermine the financial autonomy of the American people and allow the government to violate the privacy of its citizens.

Jerome Powell, head of the U.S. central bank, the Federal Reserve (Fed), has so far been rather vague about the introduction of a CBDC. However, the decision on whether and how such a digital U.S. dollar will come about is still years away.

The European Union (EU) is already several steps ahead. The European Central Bank (ECB) has been searching since the beginning of this year with five official tenders to providers to develop services related to a digital euro.

More than half of the allocated budget of 1.2 billion euros is earmarked for the development of offline payments. Providers are being sought for risk management, information security, not to mention a smartphone app.

Meanwhile, the election campaign in the US is drawing to a close. While Democrats cling to incumbent President Joe Biden, it is becoming increasingly clear among Republicans that Donald Trump is likely to be sent into the race for the country's most important post in November.

Kennedy Jr, who has drawn criticism as an anti-vaccination campaigner and conspiracy theorist, is currently running as an independent candidate. Although his chances of winning office are negligible, he could cost Trump and Biden important votes.

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