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In the upcoming 2024 presidential race, former President Donald Trump is making a bid for the White House again. Trump, in a recent campaign address, has reaffirmed his commitment to opposing the establishment of a central bank digital currency (CBDC), commonly referred to as the Digital Dollar.
Trump just said he would NEVER allow a CBDC (central bank digital currency) pic.twitter.com/Gurr8rmteN— borovik.eth (@3orovik) January 18, 2024
In a resolute tone, Trump declared, "No CBDC will ever see the light of day during my presidency. Such currency would grant the federal government absolute dominion over your financial affairs, jeopardizing individual freedoms. Rest assured, I will ensure it never infiltrates the United States."
Trump vowed to implement rigorous safeguards to prevent any financial institution or government agency from discriminating against individuals based on their political affiliations, assuring that such a scenario would not materialize during his tenure.
Support for Donald Trump's stance against introducing a digital dollar is gaining traction, with lawmakers voicing their agreement.
Republican Minnesota House Majority Whip Tom Emmer has aligned himself with former President Donald Trump in the battle against introducing a digital dollar. Congressman Emmer, reacting to Trump's remarks on CBDCs, took to the social media platform X, endorsing Trump's position on how CBDCs could compromise the financial privacy of Americans.
Emmer echoed Trump's concerns about the threat CBDCs pose to individuals' financial privacy and expressed his enthusiasm for collaborating with Trump in the ongoing struggle against expanding government surveillance.
Emmer also shed light on the persistent resistance from Republican Congress members against a CBDC modeled after surveillance programs. He introduced the CBDC Anti-Surveillance State Act, which boasts 75 cosponsors, underscoring their unwavering commitment to garner additional support.
While the Federal Reserve has yet to commit to creating a digital dollar, it remains under scrutiny. Several politicians and Federal Reserve officials, including Fed Governor Michelle Bowman, have cast doubts on the necessity of a CBDC. Bowman remains unconvinced that a digital currency could provide superior solutions or faster results, even if it posed fewer negative consequences for consumers and the economy.
Federal Reserve Chair Jerome Powell stated last September, "We have not yet made a decision [on a digital dollar]..." He anticipates several years of deliberation ahead. With Emmer aligning with Trump, a prominent voice has joined the chorus of concerns over financial privacy and government surveillance in the ongoing CBDC discourse.
In a surprising turn of events, Florida Governor Ron DeSantis has endorsed former President Donald Trump and announced that he will not run for president in 2024. DeSantis, a prominent figure within the Republican Party, has significantly shifted the political landscape with his decision.
๐จ BREAKING: Florida Governor Ron DeSantis has suspended his 2024 campaign for President and endorsed Donald Trump
pic.twitter.com/QGSDHA32hK— Benny Johnson (@bennyjohnson) January 21, 2024
Coincident with the event, the Bitcoin advocate and Trump endorser Vivek Ramaswamy's campaign was suspended. This confluence of circumstances highlights the increasing impact of crypto-friendly narratives in American politics.
Tonight I officially called on Ron DeSantis & Nikki Haley to drop out and endorse Trump. Our base spoke loud & clear last night. Now itโs our job to follow their mandate and revive this country. America-First, always. ๐บ๐ธ pic.twitter.com/3sj0NiFpHN— Vivek Ramaswamy (@VivekGRamaswamy) January 17, 2024
Additionally, political operative Roger Stone has made a startling prediction, suggesting that Vice President Joe Biden may resign, potentially paving the way for Michelle Obama to assume the role of president. Stone's speculations have ignited lively discussions and debates about the future of the current administration, injecting an intriguing element into the evolving political narrative.
editor
A digital nomad exploring the limitless potential of decentralized finance in a centralized economy.