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

On Wednesday, Marjorie Taylor Greene (MTG), a Republican subordinate of the U.S. House of Representatives, shared an nonfiction astir the Federal Reserve’s Fednow task and criticized the cardinal bank’s integer currency efforts. The typical from Georgia insisted that the U.S. should instrumentality to the “gold standard” and said she’s taking a “hard pass” connected integer currency outgo systems.

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

Representative Marjorie Taylor Greene (R-GA) is known for her arguable statements and is not shy astir expressing her opinions. The American person and businesswoman has represented Georgia’s 14th legislature territory since 2020. On April 5, she criticized the U.S. cardinal bank’s Fednow project, stating that the U.S. should instrumentality to the golden modular alternatively than relying connected integer currency outgo systems. “Hard pass,” added the Congress member. Like different Republican politicians, Greene, oregon MTG, does not look to enactment a cardinal slope integer currency (CBDC).

Texas legislator Ted Cruz and Florida politician Ron DeSantis person introduced authorities against CBDCs. The stance of MTG connected permissionless cryptocurrencies specified arsenic bitcoin (BTC) and ethereum (ETH) is “unclear,” according to Coinbase’s report connected the Georgia representative. Coinbase’s report, which covers Congressional leaders’ opinions connected crypto assets, states that determination is “not capable information to determine” Greene’s authoritative stance. However, the study does notation that MTG spoke retired connected Twitter against Canadian premier curate Justin Trudeau’s actions against a convoy of truckers.

“As Trudeau has gone afloat dictator successful Canada and is stealing Canadians’ crypto wallets, Democrats and large banks are lining up to instrumentality their chopped of #crypto and #blockchain,” tweeted Greene. “Joe ‘the large guy’ Biden ever gets his cut. Protect crypto owners’ rights,” she added. The Georgian person besides appeared connected the “America First with Sebastian Gorka” podcast successful an occurrence titled “Your Bitcoin is successful Danger.” During a property briefing successful November 2022, MTG discussed the alleged mentation that donated crypto funds sent to Ukraine were transferred to Sam Bankman-Fried’s FTX.

Many radical judge that a CBDC would beryllium a disastrous thought for the United States. Economist Richard Werner precocious called the July motorboat of Fednow “suspicious.” Former Republican congressman from Texas, Ron Paul, besides criticized the Fednow outgo strategy 3 years ago, encouraging crypto contention instead. He stated, “I’m each for cryptocurrencies and blockchain exertion due to the fact that I similar competing currencies.” Senator Elizabeth Warren (D-MA), who has referred to herself arsenic “anti-crypto,” recently denounced competing currencies similar bitcoin and called for the U.S. to determination towards a CBDC.

What are your thoughts connected Marjorie Taylor Greene’s disapproval of the Fednow task and her telephone to instrumentality to the golden standard? Do you hold with her stance? Share your thoughts astir this taxable successful the comments conception below.

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