Georgia Rep. Marjorie Taylor Greene Criticizes Fednow Project, Pushes for Return to Gold Standard

On Wednesday, Marjorie Taylor Greene (MTG), a Republican member of the U.S. House of Representatives, shared an article concerning the Federal Reserve’s Fednow undertaking and criticized the central financial institution’s digital foreign money efforts. The consultant from Georgia insisted that the U.S. ought to return to the “gold normal” and mentioned she’s taking a “onerous move” on digital foreign money cost programs.

MTG Blasts U.S. Central Bank’s Fednow Digital Currency Program

Representative Marjorie Taylor Greene (R-GA) is thought for her controversial statements and isn’t shy about expressing her opinions. The American politician and businesswoman has represented Georgia’s 14th congressional district since 2020. On April 5, she criticized the U.S. central financial institution’s Fednow undertaking, stating that the U.S. ought to return to the gold normal reasonably than counting on digital foreign money cost programs. “Hard move,” added the Congress member. Like different Republican politicians, Greene, or MTG, doesn’t appear to assist a central financial institution digital foreign money (CBDC).

Texas senator Ted Cruz and Florida governor Ron DeSantis have introduced laws in opposition to CBDCs. The stance of MTG on permissionless cryptocurrencies corresponding to bitcoin (BTC) and ethereum (ETH) is “unclear,” in accordance with Coinbase’s report on the Georgia consultant. Coinbase’s report, which covers Congressional leaders’ opinions on crypto property, states that there’s “not sufficient information to find out” Greene’s official stance. However, the report does point out that MTG spoke out on Twitter in opposition to Canadian prime minister Justin Trudeau’s actions in opposition to a convoy of truckers.

“As Trudeau has gone full dictator in Canada and is stealing Canadians’ crypto wallets, Democrats and massive banks are lining as much as take their reduce of #crypto and #blockchain,” tweeted Greene. “Joe ‘the massive man’ Biden at all times will get his reduce. Protect crypto homeowners’ rights,” she added. The Georgian politician additionally appeared on the “America First with Sebastian Gorka” podcast in an episode titled “Your Bitcoin is in Danger.” During a press briefing in November 2022, MTG discussed the alleged principle that donated crypto funds despatched to Ukraine had been transferred to Sam Bankman-Fried’s FTX.

Many folks consider {that a} CBDC could be a disastrous concept for the United States. Economist Richard Werner just lately called the July launch of Fednow “suspicious.” Former Republican congressman from Texas, Ron Paul, additionally criticized the Fednow cost system three years in the past, encouraging crypto competitors as a substitute. He said, “I’m all for cryptocurrencies and blockchain expertise as a result of I like competing currencies.” Senator Elizabeth Warren (D-MA), who has referred to herself as “anti-crypto,” recently denounced competing currencies like bitcoin and referred to as for the U.S. to maneuver in direction of a CBDC.

What are your ideas on Marjorie Taylor Greene’s criticism of the Fednow undertaking and her name to return to the gold normal? Do you agree along with her stance? Share your ideas about this topic within the feedback part beneath.