Don’t Be Naïve Over this Matter
In 1912, he graduated from Harvard and married Rose in 1914, the daughter of then-Boston mayor, John Fitzgerald.
Next, he turned his sights to Wall Street, which was just getting into its golden era, at the end of WW1.
He became a stockbroker in 1919 and by 1929, realizing that it was all a giant bubble, exited with a fortune of $4M, a massive sum in today’s money.
While the entire country was going bust and millions were living in abject poverty on the streets, he capitalized on the distress and made investments in real estate and movie studios, just as the film industry in Hollywood was starting out!
By 1933, this Irishman was worth a reported $160M and, with prohibition ending soon, he struck a deal with James, the son of President Franklin Delano Roosevelt, to exclusively import British liquor brands.
Joseph Kennedy Sr. then turned his attention to politics and did anything necessary to help his first-born son win the presidency, but Joseph Jr. was KIA when his plane exploded.
Joseph re-focused on John Fitzgerald Kennedy (JFK) and helped him become the president.
Weeks ago, RFK Jr., son of Robert Kennedy, announced his run for office and launched his campaign with a tweet about CBDCs, of all topics.
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Obviously, he knows that for his potential voters, this is a critical issue, because a Central Bank Digital Currency is money issued directly by the Federal Reserve Bank, which means that, in a twilight zone scenario, if they somehow are able to convince the majority of Americans that this is in their best interest, the custodian of your currency will cease being a private enterprise (your local bank) and will instead be the institution that the banking elites formed in 1913: the FED.
Just so we’re on the same page, a central bank digital currency makes you a “customer” of a quasi-government entity, which now controls your bank account!
If this looks like something concocted by a Russian or Chinese economist, you’re right… it is a utopia for a centralized power grab.
By their own admission, the government is aware that decentralized currencies, if adopted en masse, pose a threat to their monopoly of circulating money.
The collapse of Silicon Valley Bank and several other community banks opened the door for political lobbyists to pound the table on how much better it would be if the Federal Reserve issued the country’s currency. Thus, each would know that his hard-earned savings are tucked away and “secured” by none other than the full faith of the FED.
If that idea gives you goosebumps on the back of your neck, you’re apparently not alone… a Kennedy feels it is so important that he made it a cornerstone campaign agenda.
If the government could freeze some $300bn in Russian money with a single click, literally freezing another country’s savings, what leverage do they have over the average person, if this CBDC doesn’t come with a range of backstops and limitations?
I’m pretty certain that in China, CBDC is a government endgame.
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