(TheConservativeTimes.org) – Democratic presidential candidate Robert F. Kennedy Jr. has offered an innovative plan to stabilize the U.S. dollar by backing it with tax-exempt Bitcoin profits. Since the dollar functions as fiat money, lacking any commodity like gold to support it, its continued stability relies upon trust in government backing.
Ongoing threats to the dollar, particularly from China and other nations aiming to strengthen their sphere of economic influence, remain a significant concern. This threat to the dollar has made the issue of preserving its stability pertinent in the current presidential race.
At a Heal-the-Divide PAC event, Kennedy delved into the specifics of his Bitcoin-focused policies and the rationale behind the need for their implementation, proposing, “My plan would be…1% of issued T-bills would be backed by hard currency…”
Kennedy emphasized the importance of American financial stability. He slammed fiat currency as an invention to fund wars and create tax through inflation while asserting that backing the dollar and debt obligations through tangible assets would usher in a new era of financial stability.
The policy proposal applies monetary principles to U.S. finance through backing for the dollar in tangible assets and annually scaling based on the plan’s success. Kennedy would also exempt Bitcoin profits from the capital gains tax to spur investment.
Previously, Kennedy had appeared at Miami’s Bitcoin 2023 conference, where he announced that his political campaign would accept donations in Bitcoin. While he understands the implementation of Bitcoin into society will need to be gradual, given the U.S. reliance on fiat currency, the long-term planning and core principles of his objective of reforming the economy remain focused on creating a stable and prosperous financial system for future generations.
In a world where finance is evolving, Kennedy’s proactive approach to prescribing policy offers a glimpse of what America could achieve. As the presidential race unfolds, the importance of pocket-book and economic issues to voters in shaping America’s future will be self-evident.
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