Lawmakers Back Donald Trump to Protect America From CBDC Threat

Donald Trump has re-entered the 2024 US Presidential race and, in a recent campaign speech, pledged to resist the establishment of a central bank digital currency (CBDC), also known as the Digital Dollar.

“As your president, I will never allow the creation of a Central Bank Digital Currency. Such a currency would give the federal government absolute control over your money. This would be a dangerous threat to freedom – and I will stop it from coming to America. We are also going to put in place strong protections to stop banks and regulators from trying to debanks you for your political beliefs. That will never happen while I am your president,” he said.

Donald Trump Receives Support from Lawmakers

House Majority Whip Tom Emmer (R-MN) has thrown his support behind former President Donald Trump in the battle against the creation of a digital dollar. In response to Trump’s remarks on CBDCs, Congressman Emmer took to social media platform X on Friday, expressing his agreement with Trump’s viewpoint on the potential threat CBDCs pose to Americans’ financial privacy.

Emmer stated, “I agree with President Trump; CBDCs pose a serious threat to Americans’ right to financial privacy. I look forward to working with him as we continue the fight against the expanding government surveillance state.”

In a subsequent post, Emmer highlighted the ongoing efforts of Congressional Republicans in resisting the implementation of a surveillance-style CBDC. He specifically mentioned his bill, the CBDC Anti-Surveillance State Act, boasting 75 cosponsors, and emphasized their commitment to garnering additional support.

While the Federal Reserve explores the concept of a digital dollar, it has not committed to its creation. Notably, several Fed officials and lawmakers, including Fed Governor Michelle Bowman, question the necessity of a CBDC. Bowman remains unconvinced that a digital dollar could address issues more effectively or efficiently than alternative solutions, with fewer downside risks for consumers and the economy.

Fed Chair Jerome Powell clarified the Fed’s stance in September of the previous year, stating, “We have not decided to proceed [with a digital dollar] … We see this as a process of at least a couple of years.” The debate over the potential creation of a digital dollar continues to unfold, with Emmer’s alignment with Trump adding a prominent voice to the chorus of concerns surrounding financial privacy and government surveillance.

Trump Leads the Republican Presidential Campaign

In a surprising turn of events, Florida Governor Ron DeSantis has announced the suspension of his 2024 presidential campaign and has thrown his support behind former President Donald Trump. This decision marks a significant development in the political landscape as DeSantis, a prominent Republican figure, repositions himself within the party.

Moreover, political strategist Roger Stone has made an unexpected prediction, suggesting that President Joe Biden may step down from his position, paving the way for Michelle Obama to take his place. Stone’s speculation adds an intriguing layer to the evolving political narrative, sparking discussions and debates about the future dynamics of the current administration.