Staff Reports
In a recent episode of his podcast, Joe Rogan expressed his strong disapproval of central bank digital currency (CBDCs), warning that if a digital U.S. dollar were to be imposed on Americans, it would be “checkmate” and “game over” for the country. Rogan, along with guest Rapper Post Malone, discussed the potential dangers and abuse of power that could come with the use of CBDCs.
Joe Rogan Blasts Digital Currency, CBDCs: 'Checkmate. That's Game Over' – WATCHhttps://t.co/4jPvDA54yt
— The Daily Fetched (@DailyFetched) August 11, 2023
Rogan raised concerns about the ease with which power-hungry bureaucrats could manipulate people’s livelihoods with digital currency. He even mentioned the possibility of these bureaucrats shutting down people’s bank accounts with just the push of a button. This kind of centralized control over people’s finances is deeply troubling, as it allows for the infringement of individual freedoms and privacy.
Joe Rogan's thoughts on #CBDCs and what it could mean for society.
Where do you stand on the subject?#Bitcoin #cryptocurrency #DigitalCurrency #JoeRogan pic.twitter.com/0p0GOfz6T9— Cheeky Crypto (@CheekyCrypto) August 9, 2023
In 2022, Joe Biden instructed various government agencies, including the Treasury Department and the Federal Reserve, to explore the idea of a digital U.S. dollar. While the Fed has claimed that it has no plans to issue a digital dollar and that the decision lies with Congress, Rogan and Malone expressed their skepticism about this assurance.
Rogan described a nightmare scenario where CBDCs could be tied to a social credit score system, whereby individuals who do not conform to the government’s rules and expectations could be cut off from their finances. This kind of digital surveillance and control over citizens is eerily reminiscent of authoritarian regimes.
Post Malone also pointed out the vulnerability of digital currency, noting that the government could potentially freeze or cut off funding to citizens through the use of CBDCs. He criticized the limitations of the Federal Deposit Insurance Corporation (FDIC) insurance, which only covers bank accounts up to $250,000. This exposes a major flaw in the system, leaving many Americans at risk of losing their hard-earned money.
In contrast to the government’s push for a CBDC, some conservatives, like RFK Jr and Ted Cruz, have been advocating for alternative solutions to restore the strength of the U.S. dollar. RFK Jr has proposed backing the dollar with hard assets such as gold, silver, and even digital currencies like Bitcoin. This approach aims to rein in inflation, restore financial stability, and promote American prosperity.
Overall, Rogan’s strong opposition to CBDCs echoes the concerns of many conservatives. The potential abuse of power, infringement on individual freedoms, and vulnerability of people’s finances make the idea of a digital U.S. dollar a dangerous prospect. It is crucial for Americans to be aware of the implications and to actively voice their opinions against such a centralized and potentially oppressive financial system.
