Rogan Weighs in on CBDCs

Noted podcaster and pundit Joe Rogan recently expressed his skepticism towards the concept of a digital currency backed by the United States central bank. On his popular podcast, The Joe Rogan Experience, aired on August 8, he referred to the introduction of a digital dollar as a turning point that could potentially harm American civilians.

In this episode, which frequently garners an audience of over 11 million, Rogan, accompanied by the renowned rapper Post Malone, delved into various facets of the U.S. financial infrastructure. They zeroed in on the prospective challenges and misuse of authority associated with the U.S. adopting Central Bank Digital Currencies (CBDCs). Notably, CBDCs have become a topic of conversation in several U.S. presidential debates.

Rogan was quite candid about his perspective on CBDCs, stating, “No way. In my eyes, it’s the endgame.” He painted a picture where a dictatorial regime might manipulate the digital currency based on an individual’s social standing, potentially denying access to funds for non-compliance.

Elaborating on this, Rogan commented, “Imagine if they mandate a social credit system, citing societal welfare, and monitor your online behavior, your social media presence. One perceived mistake, and you’re out.”

Post Malone chimed in with his reservations about the U.S. banking infrastructure, specifically highlighting that the FDIC safeguards only extend to bank balances up to $250,000. Furthermore, the duo touched upon the divisive move by Canada to halt the bank transactions of the “Freedom Convoy” truckers in the prior February.

Echoing Malone’s sentiments, Rogan opined that the U.S. administration has excessive power over common citizens’ financial transactions and could potentially halt anyone’s funds without prior notice. This viewpoint resonates with many proponents of decentralized digital currencies.

Meanwhile, CBDCs continue to be a point of contention in U.S. political discourse. In July, Ron DeSantis, the Republican governor of Florida and a presidential aspirant, pledged to prohibit CBDCs in the U.S. if he wins the presidential race.

Conversely, Democratic hopeful Robert F. Kennedy Jr. labeled CBDCs as tools of “domination.” However, he proposed backing the U.S. dollar with tangible assets, notably including Bitcoin, if he ascends to the presidency.