Ahmed Ali Vivek Ramaswamy, a candidate vying for the Republican presidential nomination, asserts that the strength of the U.S. dollar would be better preserved without the introduction of a central bank digital currency (CBDC). Ramaswamy contends that embracing a digital version of the dollar, along with other digital fiat currencies, poses a risk to the democratic foundations of the United States.
Ramaswamy Labels CBDC as the ‘New Trojan Horse of the Great Reset’
Participating in the 2024 Republican Party presidential primaries, Vivek Ramaswamy has voiced his criticism against the potential implementation of a digital U.S. dollar. He tweeted on Wednesday, “It’s noteworthy that Janet Yellen is advocating for CBDC adoption in the U.S., essentially urging Americans to catch up with the strategies of leaders like Jinping.”
According to Ramaswamy, CBDCs are merely the latest tactic in the ongoing Great Reset scheme and could potentially pave the way for a social credit system that permanently intertwines Environmental, Social, and Governance (ESG) considerations with the currency itself. He firmly believes that safeguarding the dollar from digitization would actually lead to its increased strength.
Speaking in a video posted on the X platform (formerly known as Twitter), the American entrepreneur expressed his strong opposition to central bank digital currencies, citing their potential to pose a substantial threat to the concept of liberty within the country. Ramaswamy’s perspective is based on the fact that the adoption of CBDCs in China is driven by motivations that align with reasons for the United States to avoid their implementation.
Recommendation for Fed: Focus on Dollar Stability, Suggests Presidential Candidate
In addition to his concerns about CBDCs, Vivek Ramaswamy criticized the behavior of the U.S. Federal Reserve over the past few decades. He labeled the central bank a “problematic actor” for attempting to address both inflation and unemployment through a single strategy, an approach he deemed a detrimental experiment spanning 25 years.
Ramaswamy’s view is that the Federal Reserve should return to its core function, which involves ensuring the stability of the U.S. dollar as a reliable unit of measurement. He further emphasized that this approach could also promote GDP growth, countering the current obstacles.
Ramaswamy’s commentary on CBDCs comes shortly after Florida Governor Ron DeSantis, another contender for the Republican nomination in the 2024 U.S. Presidential Election, pledged to reject the concept of a central bank digital currency if he assumes the presidency. DeSantis labeled CBDCs as a substantial threat to the liberty of the American people.
Share your perspective on central bank digital currencies in the comments below.
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Frequently Asked Questions (FAQs) about CBDC concerns
What is the main concern expressed by Vivek Ramaswamy regarding CBDCs?
Vivek Ramaswamy, a candidate for the Republican presidential nomination, is primarily concerned that central bank digital currencies (CBDCs) pose a threat to the concept of liberty within the United States. He believes that their adoption could lead to a social credit system and advocates for preserving the strength and stability of the U.S. dollar instead of digitizing it.
How does Ramaswamy view the impact of CBDCs on the U.S. dollar’s strength?
Ramaswamy’s perspective is that if the U.S. dollar remains free from becoming a central bank digital currency, it would actually become stronger. He contends that safeguarding the dollar from digitization is crucial for its continued strength.
What does Ramaswamy suggest about the Federal Reserve’s focus?
Ramaswamy criticizes the U.S. Federal Reserve for trying to simultaneously address inflation and unemployment over the past few decades. He suggests that the Federal Reserve should return to its original purpose of stabilizing the U.S. dollar as a reliable unit of measurement, which he believes would promote GDP growth.
How does Ramaswamy compare the motivations for adopting CBDCs in the U.S. and China?
Ramaswamy draws a comparison between the reasons China is adopting CBDCs and the motivations he believes are driving their consideration in the United States. He suggests that the very reasons China aims to adopt CBDCs are the reasons why the U.S. should avoid them, asserting that they could threaten American liberty.
How does Ramaswamy’s viewpoint align with that of Ron DeSantis?
Both Ramaswamy and Ron DeSantis, a fellow contender for the Republican nomination in the 2024 U.S. Presidential Election, share concerns about central bank digital currencies. They view CBDCs as a significant threat to American liberty and advocate against their adoption.
More about CBDC concerns
- Vivek Ramaswamy’s Twitter Profile
- Great Reset Concept
- Janet Yellen’s Role
- Federal Reserve’s Functions
- Ron DeSantis’ Official Website
5 comments
fed’s been all over place lately, ramaswamy ain’t wrong there, dollar needs anchor not these wild experiments
wow ramaswamy’s real worried bout them digital bucks huh thinks they’re gonna mess up freedom n stuff, wonder if it’s that bad tho
ramaswamy makes a point bout dollar power without digi stuff, but isn’t change good sometimes y’know, we gotta keep up too?
ramaswamy and desantis standin’ tall against them digital coins, props to them, we gotta watch our liberties!
china’s move ain’t always right, ramaswamy got that right, but we ain’t same, think we can make digi dollar work, trust the US!