Former U.S. Department of Justice Attorney General Robert Francis Kennedy Jr. recently deplored the growing financial censorship worldwide and showed support for Bitcoin.
The financial censorship of political enemies is something we are used to under authoritarian regimes. No one was surprised when Russia froze more than 100 bank accounts belonging to opposition leader Alexei Navalny. But Canada did it too, locking down more than 200 accounts of…
— Robert F. Kennedy Jr. (@RobertKennedyJr) May 5, 2023
According to Kennedy Jr. the main victims are the political enemies of most of the governments he classified as ‘authoritarian regimes’.
Political enemies made to suffer financial censorship
In his Twitter post, Kennedy stated that the trend in this financial ban is visible in several countries worldwide. 2019, The Russian authorities froze more than 100 bank accounts related to opposition leader Alexei Navalny. Although authorities stated that the action was in line with a money laundering investigation, many citizens believed it was politically oriented.
Last year, Canada froze more than 200 accounts belonging to people and businesses involved in the Ottawa protests against Covid-19 mandates.
According to the reports, the Royal Canadian Mounted Police (RCMP) has frozen several financial products, including bank and corporate accounts. It also froze a payment processing account with a valuation of about $3.8 million.
After citing these examples, the environmental lawyer stated that financial censorship is gradually creeping into the United States. This means that someone’s account can be blocked for their social media comments or political views.
Kennedy Jr. cited the incidents in 2010 when PayPal, Mastercard and Visa suspended an NGO and whistleblowing platform, WikiLeaks, that denounced major corporations and government agencies of unethical conduct. Notably, the suspension was ordered by the US State Department.
DoJ Kennedy Jr on Bitcoin and CBDCs
Countries’ central banks manage Central Bank Digital Currencies (CBDCs). This means that the government will check the financial accounts of all residents of a country that manages CBDC.
Kenndy Jr believes CBDCs can increase a government’s power to suppress meaningful political dissent. The authorities might decide to cut off some individuals’ financial access just because of political statements and opinions.
The attorney noted that meaningful dissent should include people’s ability to save and use their finances without political interference. It should be about maintaining proper political protections against powerful personal interests related to democracy.
But the meaningful dissent of citizens is at risk from the endorsement of CBDCs and their power to government. As such, Kennedy Jr. Bitcoin and stated that the crypto asset would allow anyone to operate financially without government interference.
In his words, Bitcoin is a lifesaver that enables the free global movement and trading of people.
Featured image from Pexels and graphics from Traidngview.com
