Tulsi Gabbard warns that a US CBDC endangers freedom, in her speech at Bitcoin 2023

Former congresswoman and presidential candidate Tulsi Gabbard spoke at Bitcoin 2023 today, discussing the institutional problems with U.S. politics and elected officials who prioritize consolidating power over serving their constituents.

“I served in Congress for eight years and ran for president in 2020, and while we like to think we have great, courageous leaders in Washington…unfortunately, that’s not the case,” Gabbard said. “Ultimately, they’re driven by a fear of losing power and control, and at the heart of it, they’re afraid of us. They’re afraid of a free society.”

She particularly highlighted the Biden administration’s exploration of a central bank digital currency (CBDC), noting that such a project would contradict the privacy- and freedom-preserving qualities of cash transactions. In Satoshi Nakamoto’s white paper, “Bitcoin: A Peer-To-Peer Electronic Cash System,” Bitcoin was designed to preserve these qualities in a digital form.

“The Biden administration’s move toward implementing a central bank digital currency is their latest effort toward exerting control and taking away our freedom,” Gabbard said. “No matter how many flowery words they use to deny that there is ill intent…no matter how many times they say, ‘Hey, this is for your own good’…But ultimately, we know this is about their insatiable mission and desire for total control.”

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Gabbard also suggested that those in power are hostile or indifferent to Bitcoin because it cannot be manipulated by third parties.

“You would think they would be interested in how Bitcoin is transforming the lives of people around the world, but they don’t actually care about people,” she said.

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