Hey there, folks! It’s your favorite opinionated writer back again, and boy do I have a bone to pick with this whole “CBDC” thing. This time Governor of Florida, Ron DeSantis, has come up with an unexpected legislative initiative. He’s calling for a ban on using CBDCs as a legal payment method in his state, according to a press release. Interestingly enough, DeSantis supports the development of cryptocurrencies in the US. So, what’s the governor’s reasoning behind this decision? Does this go against the general policy of promoting the digital dollar in the US that’s being pushed by Joe Biden? Let’s dig into this!
Florida, say bye to CBDC!
Florida Governor Ron DeSantis has dropped a bombshell: he wants to ban the use of central bank digital currencies (CBDCs) as legal tender within the state. But don’t freak out just yet folks! DeSantis promises that Florida will continue to support financial innovation and protect its citizens’ privacy when it comes to their finances.
DeSantis also spoke out against government access to personal transaction data, arguing that it could be misused. He sees a big difference between CBDCs and cryptocurrencies, giving props to the decentralized nature of the latter.
Looks like DeSantis isn’t playing games when it comes to financial freedom and privacy. Will other states follow his lead? Only time will tell.
“In God We Trust – In Government We Trust”
US Governor Ron DeSantis has thrown his hat into the ring, opposing the issuance and control of the Federal Reserve’s CBDC in the United States, arguing that it would give the government even more power. He cited concerns about inflation, rising Fed interest rates, and pressure on banks as examples of state policy that directly affects American consumers.
DeSantis received support from Tarran Braggdon, the CEO of the Foundation for Government Accountability, who stated that “In God We Trust” is written on our money. A central bank digital currency changes this to “In Government We Trust.”
In addition to privacy concerns, DeSantis state that a CBDC “would diminish the role of community banks and credit unions and track consumer spending, while having the power to cut off access to goods and services.”
Ron DeSantis vs Joe Biden
So, apparently, countries all over the world are jumping on the digital currency bandwagon. The implementation of CBDCs is a hot topic these days, as many countries are working on pilot projects. In the United States, discussions have also begun regarding the possible integration of a digital dollar.
DeSantis has highlighted an executive order from President Joe Biden last year that emphasizes the “urgency on research and development of a potential U.S. CBDC,” according to a White House release. The goal is to create an opportunity to strengthen American leadership in the global financial system and the technological frontier, while also considering the importance of government regulation in the implementation of a CBDC.
Oh, great, just what we need — another way for the government to keep tabs on our spending and control our access to goods and services. Way to go, DeSantis!
So, to sum up
CBDCs are the latest buzzword that everyone’s talking about, but it’s all just a bunch of hype. Let’s see some actual results before we start patting ourselves on the back, shall we? Maybe a digital dollar will revolutionize the financial world as we know it. Or maybe it’ll just be another way for the powers that be to keep an eye on our every move. Who knows? All I know is that I’ll be keeping a skeptical eye on this whole thing.
