Robert F. Kennedy Jr. Would Like to Dismantle the Federal Reserve
Kennedy is one of the few remaining pro-crypto candidates in the race for the White House
If elected president of the United States, independent candidate Robert F. Kennedy Jr. will make sure the Federal Reserve is not a tool of Wall Street and would like to dismantle it, he told a full house at ETHDenver on Saturday.
“Cryptocurrency is the off-ramp for our addiction to the Fed,” Kennedy said to the cheering crowd. The biggest threat to American democracy are the corporations that control the regulatory agencies, which have become “sock puppets for the industry they’re supposed to regulate,” he said.
“The Fed is the captive agency working for the banking industry. Jamie Dimon and Larry Fink run the Fed,” Kennedy said without providing any evidence to back up his claims. “It’s not working for you and me. It’s working to flood the canyons of Wall Street with money.”
Jamie Dimon, chief executive officer of JPMorgan Chase, made a statement recently that he’d like cryptocurrencies to be regulated out of existence. “Jamie Dimon has more influence over the federal government than anybody else,” Kennedy said.
Moderator Caitlin Long, CEO of Custodia Bank, which is in an ongoing lawsuit against the Federal Reserve, noted that many of the draft bills, such as the stable coin bill, are in the hands of the agencies who have tried to kill the industry.
Long cited a ruling from Friday which she said was a targeted attack by the Biden administration on the sector. A district judge in Alabama struck down the Corporate Transparency Act as unconstitutional. This would mean decentralized autonomous organizations, or DAOs, would not be able to comply with the law. That ruling is subject to appeal.
Focusing on main street, not Wall Street
If he becomes president, Kennedy will ensure that banks are crypto friendly and make small cryptocurrency transactions tax-free, he said. He views crypto as the best hedge against inflation and a way to preserve wealth. “Among the freedoms we’re concerned about is the freedom to keep the fruits of your labor, which inflation robs you of.”
To fix corporate capture and bias, Kennedy said he’ll pass an executive order stating you have to wait five years before you go work for an industry that you had previously regulated. “Six of the last seven FDA commissioners are now working for a pharmaceutical company,” he said. “That’s true across all these industries.”
He also plans to repeal the Patriot Act and tackle concerns relating to free speech and privacy. “I’ll issue an executive order against any federal agency participating in censorship within social media companies, as well as protections against harvesting this kind of data without a warrant. I’m going to try to persuade Congress to pass a law making data harvesting illegal by U.S. enforcement agencies,” Kennedy said.
We need free speech back in this country, he added. Kennedy won a lawsuit last week against the Biden administration for censoring his speech.
Kennedy added a warning about the weaponization of the dollar. “This has degraded its position as the global reserve currency, and that is an enormous threat to the American economy. If we lose that status, we’ll see the absolute collapse of the American dollar” – and America itself.
He concluded with a call to action after an audience member asked about putting elections on the blockchain. “If you can come up with a plan for doing that, I will do everything in my power to promote it.”