Carlos Fernandes On Wednesday, Marjorie Taylor Greene, a Republican political leader from the United States House of Representatives, posted some information on the Federal Reserve’s electronic currency project and expressed her disapproval of the central bank’s digital money plans. She believes America should go back to using gold as currency and does not want any form of digital payment systems.
Is MTG Right to Criticize Fednow and Call for a Return to the Gold Standard?
The world is changing quickly, and with it come new challenges. Technology has evolved rapidly and brought about a wave of innovations that have changed how people interact with the world around them. Businesses have had to adjust their strategies in order to survive, while governments are working hard to protect citizens from the potential risks these changes can bring. In this ever-evolving landscape, it’s important for everyone—young minds included—to stay informed and be prepared for whatever tomorrow might bring.
Marjorie Taylor Greene is a US Representative from Georgia, and she often has pretty strong opinions. On April 5th she said that the USA should go back to using gold rather than having digital currencies – like what other Republican politicians think too. She even said “Hard pass!” which means no way, not ever. So looks like people like MTG don’t want to have digital currency in the country.
Ted Cruz from Texas and Ron DeSantis from Florida recently introduced a law against digital currencies called CBDCs. We don’t know what the Georgia representative’s opinion on Bitcoin (BTC) and Ethereum (ETH) is but according to Coinbase, there isn’t enough information about it yet. The report does say that MTG was not happy with Canadian Prime Minister Justin Trudeau for trying to stop a group of truckers.
Marjorie Taylor Greene tweeted that Canadian Prime Minister Trudeau was taking control of people’s crypto wallets without their permission. She also warned that the Democrats and Banks were planning to take advantage of Bitcoin and Blockchain technology. Later, she appeared on a podcast talking about how cryptocurrency owners should protect their digital funds from danger. Finally, Marjorie Taylor Greene suggested that some crypto money sent to Ukraine had been transferred to Sam Bankman-Fried’s FTX betting platform in November 2022.
A lot of people think it would be bad for the United States to introduce a Central Bank Digital Currency (CBDC). In July, Richard Werner said that Fednow’s launch looked suspicious. Ron Paul, an ex-lawmaker from Texas, also spoke out against the same payment system three years ago and suggested that cryptocurrencies or blockchain technology have a chance at competing with it. Elizabeth Warren, a Senator from Massachusetts who usually doesn’t like crypto, challenged it by saying we should switch to something more like a CBDC instead.
Do you think Marjorie Taylor Greene’s criticism of the Fednow project is right and her call to use gold as money again is fair? Please share your opinion in the comments box below.
