Bitcoinization of the dollar. US Presidential Candidate 2024 Robert F. Kennedy Jr. is the kind of man who appreciates Bitcoin (BTC). According to a recent asset form, he even owns one or two hundred thousand dollars in bitcoins. This time, Joe Biden’s challenger in the Democratic camp goes even further, wishing to back the american dollar to a real asset: in addition to thegold (as before August 15, 1971), the candidate thinks of : Bitcoin!
Monetary printing of fiat currencies is a scourge synonymous with « wars »
Ever since he declared himself a candidate in the race for the presidency of the United States (and even before that for that matter), Robert F. Kennedy Jr. made many positive statements about Bitcoin. He even talks aboutan inalienable « right to own and use the king of cryptocurrencies.
And the nephew of the late President JFK took it a step further in a recent event organized by the Political Action Committee (PAC) Heal-the-Divide. Indeed, Bob Kennedy Jr. presented policies related to Bitcoin that he would implement if elected President of the USA. Not only does he shoot down the fiat currencies (currently the dollar), but he proposes replacing them with real currencies « solid » currencies such as gold, silver and… Bitcoin.
« When he was in office, my uncle, President [John Fitzgerald] Kennedy, understood the importance of solid currencies and the dangers of pure fiat money (…) He understood the relationship between fiat money and war (…). Fiduciary money was invented to finance wars. (…) I like the more classical currencies because they make the [velléités guerrières] more difficult. You can’t just print money to finance war and tax the People through the hidden tax of inflation. »
Robert F. Kennedy Jr.
A dollar backed (a little) by hard-earned gold and Bitcoin
The Democratic candidate concludes that we need a minimum of solid currencies/assets for back to the US dollar. The value of the latter would thus once again be based (albeit to a very limited extent) on concrete, tangible elements, rather than on the confidence alone (fiduciain Latin) in the issuing state.
« Collateralizing U.S. dollars and debt obligations with solid assets could help restore strength to the dollar, contain inflation and usher in a new era of financial stability, peace and prosperity for the U.S. (…) My plan would be to start very, very small, perhaps 1% of issued Treasuries would be collateralized with solid currencies, such as gold, silver, platinum or Bitcoin. »
Robert F. Kennedy Jr.
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Robert Kennedy Jr. wants to scrap Joe Biden’s crypto taxes
In another tantalizing announcement for U.S. residents, Bob Kennedy Jr. intends to play hardball with the innovations brought about by cryptocurrencies. That’s right, no more taxes on crypto capital gains if elected (remember that it is at the confiscatory rate of 30% in France).
« My administration will exempt the conversion of bitcoins into U.S. dollars from capital gains tax. (…) Other benefits include facilitating innovation and stimulating investment, guaranteeing citizens’ privacy, encouraging companies to expand their operations and technology jobs in the U.S. rather than Singapore, Switzerland, Germany and Portugal. »
Robert F. Kennedy Jr.
Among the other serious challengers for the White House, there’s hardly anyone but the current governor of Florida, Ron DeSantiswho seems as much in favor of Bitcoin as Robert F. Kennedy Jr.! albeit to a lesser degree than the latter. For Ron DeSantis seems above all dislike the principle of central bank digital currencies (CBDCs)which are a kind ofhighly centralized antithesis of Bitcoin and cryptocurrencies.
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