Blog

The former US Department of Justice Attorney General Robert Francis Kennedy Jr, not too long ago lamented the rising monetary censorship worldwide and confirmed assist for Bitcoin.

The monetary censorship of political enemies is one thing we’re used to seeing beneath authoritarian regimes. No one was stunned when Russia froze greater than 100 financial institution accounts tied to opposition chief Alexei Navalny. But Canada did it too, locking greater than 200 accounts of…

— Robert F. Kennedy Jr (@RobertKennedyJr) May 5, 2023

According to Kennedy Jr, the key victims are political enemies of most governments that he categorised as “authoritarian regimes.”

Political Enemies Made To Suffer Financial Censorship

In his Twitter publish, Kennedy acknowledged that the pattern on this monetary prohibition is obvious in a number of nations globally. In 2019, Russian authorities froze over 100 financial institution accounts associated to the opposition chief Alexei Navalny. Though the authorities acknowledged that the motion aligned with a cash laundering investigation, many voters believed it was politically inclined.

Last yr, Canada froze over 200 accounts of individuals and companies related to the protests in Ottawa in opposition to Covid-19 mandates.

According to the stories, Royal Canadian Mounted Police (RCMP) froze a number of monetary merchandise, which included financial institution and company accounts. Also, it froze a cost processing account with a valuation of about $3.8 million.

After citing these cases, the environmental lawyer acknowledged that monetary censorship is step by step creeping into the United States. This means an individual’s account may very well be frozen resulting from his feedback on social media or political stance.

Kennedy Jr cited the incidents in 2010 when PayPal, Mastercard, and Visa suspended an NGO and whistleblowing platform, WikiLeaks, that uncovered huge companies and authorities establishments of unethical acts. Notably, the suspension was by means of the command of the US State Department. 

DoJ Kennedy Jr On Bitcoin And CBDCs

The central banks of nations handle Central Bank Digital Currencies (CBDCs). This implies that the federal government will management the monetary accounts of all residents in a rustic that runs CBDC. 

Kenndy Jr believes CBDCs might amplify a authorities’s energy to suppress significant political dissent. The authorities might resolve to chop the monetary entry of some people simply due to political statements and opinions. 

The lawyer famous {that a} significant dissent ought to embrace folks’s capability to save lots of and use their funds with out political interference. It needs to be about sustaining the right political safety from highly effective private pursuits relating to democracy. 

But residents’ significant dissent is in danger with the adoption of CBDCs and their energy to the federal government. As such, Kennedy Jr supported Bitcoin, stating that the crypto asset would permit anybody to function financially with out authorities interference.

In his phrases, Bitcoin is a lifesaver that permits folks’s free international motion and actions.

Featured picture from Pexels and chart from Traidngview.com