Podcast host Joe Rogan slammed central bank digital currency (CBDCs), declaring it would be “checkmate” and “game over” for the US if a digital U.S. dollar were forced on Americans.
During an episode with guest Rapper Post Malone, the subject of CBDCs came up.
Digital currency would make it easier for power-hungry bureaucrats to manipulate people’s livelihoods, even shutting people’s bank accounts with a button.
In 2022, Joe Biden instructed the federal government and Federal Reserve to lay the groundwork for a potential new U.S. digital dollar.
The order directs the Treasury Department, Office of the Attorney General, and Fed to produce a “legislative proposal” to create a digital currency.
However, the Fed said it has no plans to issue a digital dollar, adding that it would let Congress make that decision.
Rogan and Malone discussed the potential abuse of power that could come with CBDC use in the United States.
When Rogan was asked by his guest what he thought about the CBDC the Biden administration has been working on, he responded: “No way. That’s what I think. I think that’s checkmate. That’s game over.”
Rogan described a nightmare scenario where the government could tie CBDCs to one’s social credit score, whereas Americans are cut off from their finances if they don’t toe the line.
“Because if they apply that to a social credit score, if they decide somehow or another that you need some social credit score system and it’s for the benefit of society, and they outline that, they can track your behavior and your tweets and all your things […] They just decided you [expletive] up, and the rules are the rules,” he said.
Post Malone noted the government already has an iron grip on America’s finances and that they could potentially cut off funding to citizens with digital currency.
This was seen when Prime Minister Justin Trudeau froze the bank accounts held by the “Freedom Convoy” truckers in February 2022.
Post Malone also criticized that Federal Deposit Insurance Corporation (FDIC) insurance only covers bank account values up to $250,000, calling it a massive flaw.
In July, RFK Jr revealed he held up to $250,000 worth of Bitcoin investments and denounced CBDCs for being instruments of “control.”
If elected president, he promised to back the U.S. dollar with hard assets, including gold, silver, and digital currencies like Bitcoin,
“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,” said Mr. Kennedy.
“My plan would be to start very, very small; perhaps 1 percent of issued T-bills would be backed by hard currency, by gold, silver, platinum or Bitcoin,” he said.