Joe Rogan, Post Malone Condemn U.S. Government’s Move Towards CBDCs
Joe Rogan, the renowned podcaster and commentator, recently expressed strong reservations regarding the concept of a Central Bank Digital Currency (CBDC) in the United States. During a candid discussion with rapper Post Malone on the popular Joe Rogan Experience podcast, both men dived into the intricacies of the US financial system and potential risks associated with the implementation of a digital currency. The podcast typically garners over 11 million listeners per episode.
For those not in the loop, a CBDC is a digital form of a country’s national currency issued and regulated by its central bank. Unlike physical cash or traditional bank deposits, a CBDC exists in electronic form and is intended to be used for digital transactions, both between individuals and businesses, as well as for official government payments. Many people fear that by making currency completely digital, government and corporations could have unfettered control about how, when and where consumers can spend their money.
The episode, which aired on August 8, unexpectedly delved into the possible ramifications of a digital dollar, with Rogan going so far as to characterize it as an “end game” scenario for American citizens. His concerns were unambiguous, rejecting the notion outright and labeling it as “checkmate” and “game over.” Rogan offered a stark hypothetical scenario, where a CBDC could be tethered to an individual’s social credit score, implying that transgressions could lead to financial restraints imposed by a potentially overreaching government.
Elaborating on this further, Rogan articulated, “If they decide one way or another that you need a social credit scoring system for the benefit of society, and they set it up, they can track your behavior, your tweets, and all your stuff… They just decided you’re done for, and the rules are rules.”
Post Malone, who boasts an extensive following of 31 million on platforms like TikTok and Instagram, echoed these concerns. The popular rap artist expressed his apprehension about the control the U.S. government holds over the financial activities of everyday citizens. Malone further pointed out the limitations of FDIC insurance, which only covers bank account balances up to $250,000, and highlighted the Canadian government’s controversial freezing of bank accounts tied to the ‘Freedom Convoy’ truckers in a past incident.
While CBDCs weren’t the only issues discussed during the podcast, the conversation touched upon the broader sentiment among proponents of decentralized cryptocurrencies, reflecting growing concerns about government control over personal finances.
The issue of CBDCs has also permeated the realm of US politics, with candidates from both sides of the aisle sharing their views. In a distinctive divide, Republican presidential contender and Florida Governor Ron DeSantis vowed to prohibit CBDCs in the United States if elected.
On the opposing side, Democratic candidate Robert F. Kennedy Jr. criticized CBDCs as “the slippery slope to financial slavery”. He pledged to back the US dollar with tangible assets, including Bitcoin (BTC), should he assume the role of president.
As CBDC debates gain traction, these discussions signal a broader conversation about the future of currency and financial systems, showcasing the intersection of technology, policy, and public sentiment. However, as the Joe Rogan Experience podcast demonstrates, dissenting views are becoming mainstream even among the entertainment elite, as general public disapproval remains high.