States are at the forefront of advocating for a sound money policy.
While Idaho continues to encounter challenges, other states have managed to implement effective monetary policy in recent years. Florida enacted laws to prohibit CBDCs. North Carolina and Arizona contemplated analogous laws that did not pass eventually. In the meantime, states like Wyoming, Montana, Arkansas, Oklahoma, and Louisiana have approved laws to protect essential rights concerning digital assets.
Even more concerning is the fact that bureaucracies in Washington D.C., not content with their existing level of disproportional control, aspire to supervise and regulate every financial transaction of American citizens using a Central Bank Digital Currency (CBDC). This new digital form of the US dollar could provide them with extraordinary control through its programmable creation, usage, and taxation.
Conservatives promised to implement robust financial policies in Washington by the year 2025. However, the fight for your financial independence is nearer than you imagine. States are the frontrunners in this initiative and ought to seize this nationwide momentum to protect American financial freedoms at a local level.
While these issues may appear new on a nation-wide scale, the subject of reliable currency has been a topic of conversation among states for a while. The Republican party of Idaho was the first to incorporate pro-digital asset and anti-CBDC terms into a significant state party platform. Additionally, during the legislative session of 2024, Idaho mulled over two bills that aimed to fulfill this party concept, but these did not pass, falling short in both the House and Senate by a narrow margin.
Privacy continues to be a crucial issue. The potential for the government to observe and regulate financial transactions via a Central Bank Digital Currency (CBDC) presents a considerable risk to personal liberties. With preemptive actions, Australia can avoid degradation of privacy and uphold a financial infrastructure that values individual independence.
The unseen impact of inflation is severely affecting the savings of all Americans who use dollars as their reserve of value. Nevertheless, the government persists in borrowing and printing money in order to support its continuously growing size.
Many people contend that financial institutions have become the latest battleground for cultural conflicts.
- Certain religious organizations are having their business ties severed by banks.
- Banks are terminating their associations with firearms producers.
- Banks are separating themselves from industries that are not environmentally friendly.
The financial outlook in Australia is at a crucial juncture. The Reserve Bank of Australia (RBA) has been examining the potential of a digital currency, but the implications regarding privacy and financial independence are significant. A Central Bank Digital Currency (CBDC) could give the government extraordinary control over individual purchases, possibly violating personal freedoms.
Despite the progression of sound money policies at the federal level, it remains crucial for states to persist in implementing these policies at a local level. States that are currently without such policies need to intensify their efforts, particularly in these times.
The Republican National Committee this month unveiled a draft proposal outlining amendments to party policy. Notably, the proposed changes illustrate the party’s opposition to a central bank digital currency (CBDC), frequently referred to as the digital dollar. Additionally, the draft indicates the party’s stance favoring the rights to mine, possess, and conduct private transactions using digital assets such as Bitcoin.
It is concerning that bureaucrats are seeking further control over a financial system they have already demonstrated they cannot effectively manage.
Source: bitcoinmagazine.com
The progress observed in different U.S states can also provide important insights for Australia. As Australians monitor global developments in regulation of cryptocurrency and central bank strategies concerning digital currencies (CBDCs), it becomes crucial to take local action.
The continuous changes in the worldwide financial scene necessitates Australia to remain progressive. Australia can safeguard its economic independence and provide a reliable and private financial future for its residents by drawing lessons from the initiatives of U.S. states and enforcing robust money policies at home.
The viewpoint from Australia: a demand for community-based action.
Furthermore, the covert taxation of inflation intensified by persistent printing of money is a worry shared worldwide. Aussies, similar to United States citizens, feel the strain as their savings deplete. The advent of a Central Bank Digital Currency (CBDC) could add more complexity to this problem, underscoring the necessity for local administrations to make a stand.
Australia should not fall behind; proactive action can protect our economic independence.
- Recognize that Central Bank Digital Currencies (CBDCs) aren’t conventional forms of money; consider prohibiting collaboration with any implementations similar to the Federal Reserve in this region.
- Protect the rights related to cryptocurrency mining ownership and transactions, including Bitcoin, to guarantee Australians retain control over their personal finances even as the global landscape continues to change!
The 2024 election has seen an increased emphasis on solid financial policy. Notable Republican contenders such as ex-President Trump and Vivek Ramaswami have openly endorsed digital currencies, particularly Bitcoin, and criticized the deployment of a Central Bank Digital Currency (CBDC). Independent presidential runner Robert F. Kennedy Jr. shares similar views on these topics.
In a predominantly digital economy, this could be debilitating and poses a threat to agriculture, mining, and energy – some of the primary industries in Idaho.
Privacy is a major worry for numerous Americans. The US federal government often abuses its control over the banking system to investigate the transaction histories of citizens without a warrant, even though this is a violation of the Fourth Amendment of the U.S. Constitution.
Legislation protecting the financial freedoms of constituents have been proposed and passed by states that acknowledge these issues and take appropriate action. They offer avenues for markets to break free from a progressively less private and unstable financial system.
These policies are introduced as states strive to curb threats to Americans’ freedoms caused by private banks and federal bureaucracy.
Australian states and territories may take a cue from American states such as Florida and Wyoming. Legislation that defends the rights to extract, possess, and deal in digital currencies could be enacted in Australia, thus allowing its citizens to have full authority over their financial prospects. This involves setting up security measures against the possible excessive jurisdiction of a centrally manipulated digital currency.
