BOISE, Idaho—Idaho’s Republican Party is expressing opposition to the creation of a central bank digital currency (CBDC) in the United States, and also calling for the Federal Reserve to be abolished.
This positions were included in a recent report from the party’s 2024 convention platform committee session.
“We oppose the creation of a Central Bank Digital Currency, the regulation and/or excessive taxation of decentralized digital currencies such as Bitcoin, and we affirm the right of individuals to engage in commerce and exchange with cash, barter, precious metals, and decentralized digital currencies,” party stated, according to a report by Cryptoslate.
Abolish the Fed
The report also calls for the abolishment of the Federal Reserve Bank, arguing that “the issuing power [should be] restored to the people with the stipulation that the US dollar be backed by gold, and silver, or other stores of value,” Cryptoslate said.
“We believe Idahoans need to protect their savings from the ravages of inflation, which is hidden taxation, and encourage citizens to participate in a systematic acquisition of precious metals or other assets which represent real value as opposed to fiat currencies,” the Idaho GOP stated.
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