Conservatives have pledged to deliver sound monetary policy in Washington by 2025, but the fight for your financial freedom is closer than you might think. States have been leaders in this effort, and they should capitalize on this national momentum to defend America’s financial freedoms at home.
This month, the Republican National Committee announced released A draft proposal to make changes to the party platform would affirm the party’s position against central bank digital currency — also known as a CBDC or digital dollar — and support the right to royalthey own and deal specifically in digital assets such as Bitcoin.
Sound monetary policy has been a growing focus in the 2024 election as Republicans gain popularity. Candidates Like former President Trump and Vivek Ramaswamy publicly A group of Republicans have supported digital assets — especially Bitcoin — while condemning the implementation of a central bank digital currency. Even independent presidential candidate Robert F. Kennedy Jr. He carries Similar position on these issues.
Although these issues may seem new at the national level, states have been discussing sound money for some time. The Republican Party in Idaho was the party that supported financial reforms. Firstly Adding pro-digital-asset and anti-CBDC language to a major state party platform. Jim State also considered two bills during the 2024 legislative session that would have fulfilled this pillar of the platform, but ultimately to fail By a majority vote in the House of Representatives and the Senate.
Although Idaho still faces hurdles, other states have succeeded in enacting sound monetary policy in recent years. Florida passed legislation Ban North Carolina and Arizona debated similar legislation that ultimately failed. Meanwhile, Wyoming, Montana, Arkansas, Oklahoma and Louisiana debated similar legislation. Passed Legislation to defend fundamental rights related to digital assets.
These policies come as the United States tries to limit the threats posed to Americans’ freedoms by private banks and federal bureaucracy.
Financial institutions are the new theater of the left’s culture war. Many banks have ended their business with religious institutions. Organizationsfirearms Manufacturersor Not green This could be devastating in a modern, largely digital economy, threatening agriculture, mining and energy — some of the leading industries in Idaho’s economy.
Privacy is also a major concern for many Americans. The federal government uses its power over the banking system to exert control over the banking system. seek Records of citizens’ transactions without a warrant even though this constitutes a violation of the Fourth Amendment of the United States Constitution.
Worse, the bureaucracies in Washington, D.C.—which resent their excessive control—want to monitor and control every American’s financial transactions through a central bank digital currency. This new digital dollar could offer unprecedented benefits. Controls Through programmable issuance, usage and taxation.
Worryingly, the bureaucrats want more control over a financial system that they have already proven they cannot manage properly. The hidden tax of inflation is destroying the savings of all Americans who use the dollar as a store of value. Yet the government continues to borrow and print to support its ever-increasing size.
Countries that have proposed and passed legislation to protect their citizens’ financial freedoms are aware of these problems and are acting accordingly. They provide a way for the market to escape from a financial system that is no longer private, stable, and free.
Even if sound monetary policy succeeds at the federal level, this will not alleviate the need for states to act. States that do not yet have this protection will need to continue to strengthen these policies at the local level.
States should seize the national momentum for sound monetary policy and defend their citizens’ fiscal sovereignty. Idaho is a prime candidate for such policies. Both of Idaho’s neighbors to the east have already enacted some of these policies.
Idaho should catch up with its peers by implementing sound fiscal policy. agendaThis starts with recognizing that a central bank digital currency is not money and prohibiting the state from cooperating with the Federal Reserve to implement the system. The state should also defend the right to mine, own, and transact digital assets. This would allow Idahoans to defend their financial freedoms by opting out of a system that is willing to control and regulate their finances.
Of course, Idaho isn’t the only state that could benefit from these policies. Now is the time for state legislatures to take advantage of this national momentum and think about how to protect their constituents’ money. Otherwise, they could find themselves left behind on an issue that states are at the forefront of.
This is a guest post written by our guest writer, Niklas Kleinworth. The opinions expressed in this post are entirely his own and do not necessarily reflect the views of BTC Inc or Bitcoin Magazine.