Robert F. Kennedy Jr. Promises to Back United States Dollar With Bitcoin Should He Win the Presidency
Jose Nino
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During a Heal-the-Divide PAC event held on July 19, 2023, Democratic presidential candidate Robert F. Kennedy Jr. vowed to gradually back the United States dollar with Bitcoin.
In a speech, he promised to back the US dollar with with what he described as a “hard currency,” which includes gold, platinum, silver or Bitcoin. He believes that such measures re-stabilize the US economy.
Backing dollars and U.S. debt obligations with hard assets could help restore strength back to the dollar, rein in inflation and usher in a new era of American financial stability, peace and prosperity.
Kennedy detailed how the process would be gradual in nature and that, depending how successful the plan is, he’d tweak the amount of backing for the dollar.
“My plan would be to start very, very small; perhaps 1% of issued T-bills would be backed by hard currency, by gold, silver, platinum or Bitcoin,” he stated.
On top of that, Kennedy highlighted he would exempt Bitcoin to US dollar conversions from capital gains taxes.
In his opinion, the proposed exemption would boost investment and incentivize businesses to expand their operations in the US as opposed to other crypto-friendly jurisdictions like Singapore or Switzerland.
Kennedy’s latest pro-Bitcoin remarks came after his appearance at Miami’s Bitcoin 2023 conference on May 19. At that event, he announced that his presidential campaign would accept political campaign donations in Bitcoin.
On July 9, investment disclosures revealed that Kennedy owned up to $250,000 worth of Bitcoin.
As far as Democrats are concerned, RFK Jr. is the best candidate to have run under their banner in decades. While he is not ideal from a nationalist perspective, his unorthodox views on issues ranging from foreign policy to economics are a breath of fresh air for a political party that is captured by neoliberal wokism.
When it comes to economic issues, central banking is among the most important. Monopoly central banking has facilitated mass inflation and the expansion of a bloated state that would make the Founding generation roll over in their graves. One of the best ways to undo the damage the Federal Reserve has wrought on the American economy in the last century is by introducing competing currencies such as Bitcoin and commodity money into the mix.
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