CBDCs Are Dangerous, Bitcoin Is The Way To Go: RFK Jr. Issues Warning – Coinpedia Fintech News

  • RFK Jr. warns of financial censorship and advocates for Bitcoin to protect democracy.

  • Digitization of currency gives governments unprecedented power to control economic life.

  • Defending the right to conduct transactions without interference is essential for maintaining democratic freedoms.

In a recent tweet, Robert F. Kennedy Jr. raised concerns over the potential for financial censorship of political enemies, citing examples of Canada freezing the accounts of people protesting vaccine mandates and PayPal seizing accounts of users spreading what they deemed to be misinformation. Kennedy warned that even in America, bank accounts could one day be frozen due to political beliefs or comments on social media.

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Historical Examples of Financial Censorship

Kennedy pointed to historical examples of financial censorship, such as when PayPal, Visa, and Mastercard suspended WikiLeaks in 2010. This highlights the influence of established interests on financial decisions that can impinge on our rights.

As the world becomes increasingly digital, the ability to conduct transactions without political interference has become a critical prerequisite for maintaining democratic freedoms.

The Dangers of CBDCs

Kennedy warned of the dangers of central bank digital currencies (CBDCs), which he believes will vastly magnify the government’s power to suffocate dissent by cutting off access to funds with a keystroke. CBDCs would enable governments to surveil and control economic life to an unprecedented degree, which could be particularly dangerous for dissenting voices.

Is Bitcoin The Answer?

To empower individuals and protect democracy, Kennedy advocates for the use of Bitcoin. He cited examples of how Bitcoin has been a lifesaver for people’s movements around the world, especially in Burma.

Bitcoin may just be the key to preserving our right to dissent and protecting democracy from the influence of the powerful.

What do you think?

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