• Robert F. Kennedy Jr. proposed the idea of underpinning the US dollar with hard currency assets such as Bitcoin, gold, silver and platinum during a speech at a Heal-the-Divide PAC event on July 19.
• He proposed an initial step of backing a small percentage of T-bills issued with hard currency including Bitcoin in order to gradually reestablish stability within the American economy.
• RFK Jr. also announced his acceptance of Bitcoin contributions for his political campaigns during his speech at the Miami Bitcoin 2023 conference on May 16.
RFK Jr.’s Proposal to Back USD With Hard Currency Assets
Robert F. Kennedy Jr., a presidential candidate, outlined a vision where, if he were to become president, he would progressively support the US dollar with Bitcoin and other hard currency assets like gold, silver and platinum during a speech at a Heal-the-Divide PAC event on July 19th. This could play an important role in re-establishing stability within the American economy. To start off this plan, RFK Jr. proposed that backing a small percentage of T-bills issued with these hard currency assets should be implemented as an initial step towards achieving this goal.
Exemptions for BTC to USD Conversions
Additionally, RFK Jr suggested introducing an exemption from taxation for BTC to USD conversions as part of this framework in order to encourage greater investments and entice businesses to establish themselves in the United States instead of seeking more crypto-friendly jurisdictions such as Singapore, Germany and Switzerland. He highlighted that such exemptions reduce the possibility of governments manipulating currencies to suppress free speech – which is one of his core principles and paramount objectives for any future presidency under him.
Acceptance Of Bitcoin Contributions For Political Gifts
RFk Jr’s recent statements come several months after his appearance at the Miami Bitcoin 2023 conference on May 16th where he announced his acceptance of Bitcoin contributions for political campaigns during his speech at this event. Although he initially denied having any investments in cryptocurrency himself when asked about it then – records retrieved later showed that he held up to $250,000 worth of BTC though only yielding him less than $201 worth income from them so far . The reasons behind these conflicting comments still remain unclear though .
Potential Benefits Of Hard Currency Backed T-Bills
Backup by hard currency assets such as gold or cryptocurrencies can potentially offer numerous benefits like reducing fiat volatility or protecting against inflationary pressures . Furthermore , it can also increase public trust towards government issued money due its potential reliability over time since it is backed by tangible physical assets that have intrinsic value regardless of market conditions . It could even serve as an incentive for countries , businesses or individuals who use their own currencies but still need access to global capital markets .
In conclusion , Robert F Kennedy’s proposal has potential merit which could benefit both citizens and businesses if implemented correctly while still maintaining its goals of supporting free speech without manipulation from governmental powers . Whether or not these plans will eventually materialize remains uncertain however , only time will tell whether they actually succeed or fail first hand .