Finance /

DeSantis Vows To Ban Central Bank Digital Currency, Rein In Federal Reserve

'Cash Is King'

Florida Governor Ron DeSantis proposed an economic policy which includes regulating the Federal Reserve and banning the implementation of a central bank digital currency (CBDC) if elected president.

In an exclusive Thursday interview with Just the News, the Florida governor criticized President Biden’s handling of the American economy, referring to “Bidenomics” as “you pay more for everything.”

“They view the economy as a tool for them to advance their left-wing agenda,” DeSantis said, adding the average American pays more for energy and groceries as a “necessity” for a left-wing agenda. “Right now, the people that are going about it the right way … they’re falling further behind.”

He added of President Biden: “He doesn’t care about about the average person. What he cares about is being able to use the economy to advance his agenda.”

Host John Solomon noted other countries, including China, had developed and implemented digital currencies and asked where the Republican presidential candidate stood on the issue.

“On day one, central bank digital currency dies in this country,” the Florida governor declared, adding he believed it was a “huge” threat to freedom and privacy. “They want to get rid of cash … get rid of cryptocurrency. And they want this Fed-monitored central bank digital currency.”

Governor DeSantis claimed proponents of CBDC, including World Economic Forum (WEF) leaders, are “excited.”

“They’ve said it publicly … that will allow them to block what they consider to be undesirable purchases like too much fuel … maybe you’re buying too much ammunition,” he said, suggesting WEF wanted to implement a social credit system along with central bank digital currencies.

“Cash is king,” DeSantis declared. “It gives you independence.”

“We cannot go down that road.”

Solomon transitioned to the Federal Reserve by asking DeSantis if he would reform the institution.

“The Fed should simply maintain price stability,” he said. ”They are not an economic central planner. They need to stop trying to micromanage the economy.”

“So you had the financial crisis. And then the Fed does this quantitative easing. And that was supposed to be kind of like an aberration, a crisis thing. Then that became the norm,” he continued. “The problem with quantitative easing is the people that have assets, they inflate their assets. So they do very well, people at the top,

DeSantis noted “average people” have “suboptimal economic results” from quantitative easing.

“I think it’s been a total disaster,” he added, commenting on the Federal Reserve pumping more cash into the economy during the COVID-19 pandemic. “You knew there was gonna be inflation.”

“Meanwhile this whole time the Fed’s saying inflation is transitory,” he continued, noting increased rate hikes. “The rates are the highest they’ve been in over 20 years. The Fed has totally mismanaged this.”

“We are gonna rein in the Fed,” he concluded, adding he was in favor of auditing the Federal Reserve.

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