Florida Governor Ron DeSantis Opposes Central Bank Digital Currency, Citing Threat to American Liberty
- Shams Ul Zoha
- July 17, 2023
- 3:27 pm
WHAT YOU SHOULD KNOW
- Ron DeSantis, a prominent supporter of Bitcoin and Ethereum, opposes the establishment of a central bank digital currency (CBDC), considering it a significant threat to American liberty.
- DeSantis argues that CBDCs could lead to the elimination of physical cash and give the government power to control and restrict certain transactions, potentially leading to the imposition of a social credit system.
- DeSantis argues that CBDCs could lead to the elimination of physical cash and give the government power to control and restrict certain transactions, potentially leading to the imposition of a social credit system.
In a conversation with Tucker Carlson at the Family Leadership Summit, Ron DeSantis expressed his opposition to CBDCs, stating that they pose a massive threat to American liberty. DeSantis argued that proponents of CBDCs aim to eliminate physical cash and all other cryptocurrencies, establishing the CBDC as the sole form of legal tender. He expressed concerns that this would grant the government the power to restrict transactions, such as those involving fuel and ammunition, and potentially pave the way for a social credit system.
Meanwhile, the Biden administration is moving forward with plans to launch America’s CBDC, a digital currency that would resemble government-backed cryptocurrencies like Bitcoin. In March 2022, President Biden issued an executive order calling for a comprehensive report on the advantages and risks of establishing a digital dollar. The Federal Reserve also initiated a 12-week program to test a digital dollar concept using simulated data. Supporters of CBDCs argue that they can improve banking services, making them more affordable, convenient, and accessible for all Americans. However, critics raise concerns about privacy issues and the concentration of power within the federal government that could arise from the adoption of a CBDC.
Governor Ron DeSantis opposes the implementation of a central bank digital currency, warning of the potential threats it poses to American liberty. As the Biden administration moves forward with plans for America’s CBDC, the debate intensifies, with proponents highlighting potential benefits and critics expressing concerns about privacy and government control.
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