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IPFS News Link • Central Banks/Banking

RFK Jr. Issues Dire Warning Over CBDC Adoption

•, by Naveen Athrappully

"I'm against central bank digital currencies because that is part of the path to getting us where China is today. That's where they started, that's where all these other countries started with central bank digital currency, and it's the end of freedom. We will be slaves if we allow that to happen," Mr. Kennedy said during a March 22 event. He pointed to the Canadian trucker's protests to explain why CBDCs were dangerous for freedoms. The Canadian government portrayed the truckers "as right-wing, fascist, and racist" when they were not, he said.

"The government used facial recognition systems and other intrusive technologies to identify the participants, all the truckers. They got their license plates, etc. And then they froze their bank accounts. So they couldn't get diesel for their trucks, they couldn't buy food for their kids, they couldn't pay for their education, they couldn't pay their mortgages."

A trucker told Mr. Kennedy that he was going to jail for being unable to pay his alimony.

"It occurred to me that transactional freedom is as important as freedom of the press. If you have freedom of speech in the First Amendment, and yet when you exercise that speech, the government doesn't like it, they can starve you to death, they can throw you out of your home because you can't pay your mortgage or your rent, then that is meaningless."

Transactional freedom is "absolutely critical" for freedom of speech to exist, he said. "If we get a central bank digital currency, they'd do what they do in China."

In China, people pay for groceries and gasoline using their "face," he said, referring to facial recognition systems. The Communist regime keeps a social credit score on its citizens so that anyone found violating regulations will face penalties and restrictions, like potentially restricting an individual's access to grocery stores within a certain radius of their house or workplace.