Former GOP presidential candidate Vivek Ramaswamy warns against the introduction of a US central bank digital currency (CBDC), citing threats to citizens’ financial freedom.
Ramaswamy, a crypto supporter, applauds Donald Trump for rejecting CBDCs and credits their recent rally discussions for Trump’s continued anti-CBDC stance.
CBDC Is Tool For Control: Ramaswamy
Entrepreneur and former Republican presidential candidate Vivek Ramaswamy is sounding the alarm on the potential dangers of a central bank digital currency (CBDC) in the United States, particularly regarding citizens’ financial freedom. In a recent interview, Ramaswamy expressed his apprehensions, drawing parallels with recent events in China and Canada.
A known crypto supporter, Ramaswamy, previously argued that the U.S. government has been reluctant to embrace Bitcoin fully due to perceiving it as a threat to its existence. Despite dropping out of the presidential race on January 16th, he continues to be an influential voice in the crypto space.
Threat to Liberty
Ramaswamy asserted that the introduction of a CBDC poses a serious threat to liberty in the country. He warned that such a digital currency could provide the government with a mechanism to control individuals who express dissent or opposition. Drawing attention to the Emergency Act invoked in Canada during the Freedom Convoy protests, he remarked,
“A central bank digital currency, I believe, is a threat to liberty in this country because it creates a mechanism for the government to be able to wipe out your bank account or wipe out your dollars if you say or do something that the government disapproves of.”
Trump’s Anti-CBDC Position
Commending former President Donald Trump for his stance against CBDCs, Ramaswamy highlighted his interactions with him, emphasizing his intellectual openness. Ramaswamy stated that he had explained his concerns to Trump, who subsequently publicly rejected the idea of a CBDC.
“I explained that to Donald Trump, and I give him a lot of credit for being intellectually open. […] A few nights later, I saw him mention that and again last night, when he and I were at that rally together, came out strongly in favor of what I believe is the right answer, which is to oppose the creation of a central bank digital currency.”
During a recent rally in Laconia, New Hampshire, Trump reiterated his steadfast opposition to the development of CBDCs. Addressing the crowd, Trump stated,
“Vivek wanted this: I will never allow the creation of a Central Bank Digital Currency.”
This public declaration aligns with Trump’s consistent position against CBDCs, as seen during a campaign stop in New Hampshire the previous week.
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