The controversial topic of CBDCs and crypto came up when members of the republican party of Idaho met twice earlier this month for the 2024 Idaho GOP Convention.

A report of the meeting has since been released, and section 2024-5 covered the topic of "Sound Currency", in which the party expresses their disgust for the Fed, their opposition to impending CBDCs, and approval of alternatives to the dollar.

The "Sound Currency" Report

First of all, the report alludes to how decades of reckless monetary policy by the Federal Reserve has chipped away at the reputation and value of the US dollar.

We recognize the failure of the Federal Reserve System to maintain a sound U.S. dollar

It goes on to call for the total abolition of the Federal Reserve, and that American currency should be properly backed by precious metals, or other stores of value (hinting at Bitcoin).

We believe the Federal Reserve Bank should be abolished and the issuing power restored to the people with the stipulation that the U.S. dollar be backed by gold, and silver, or other stores of value

By the way, it was only a few weeks ago that US presidential candidate Robert Kennedy also suggested that the US dollar should be backed by Bitcoin as well as precious metals.

The members of the republican party of Idaho were also in total opposition to the issuance of a Central Bank Digital Currency (CBDC), which many nations have been busy developing in preparation for a new financial order.

We oppose the creation of a Central Bank Digital Currency

Finally, the document states that the citizens of Idaho should be free to transact in both precious metals and "decentralized digital currencies", which I interpret to mean any cryptocurrency not under the control of the government.

we affirm the right of individuals to engage in commerce and exchange with cash, barter, precious metals, and decentralized digital currencies.

Below is a screenshot of the entirety of section 2024-5 that covered sound currency.

Yet Another Pro-Crypto American State

Idaho is just the latest American state to declare their pro-Bitcoin/crypto stance. Back in April, the state of Oklahoma passed legislation to protect citizens' rights to not only self-custody, but mine Bitcoin as well.

Making a similar move, back in 2023 the governor of South Dakota vetoed legislation that would have paved the way for a CBDC, and "needlessly limited the economic freedom to use cryptocurrency"

Idaho must be on the right track, because a large portion of liberal Oregon wants to secede from the left-leaning state in order to join Idaho, and become part of the "Greater Idaho" movement.

The Trend Is Clear

With states like South Dakota, Oklahoma and Idaho explicitly declaring their support for crypto over CBDCs, it's obvious that this issue could end up causing even more division in the once United States of America.

The issue is not isolated to America. Look around the world and we see nations like El Salvador and Argentina preparing for the demise of the dollar/fiat by adopting alternative currencies such as Bitcoin and other decentralized cryptos.

If you learned something new from this article, be sure to check out my other posts on crypto and finance here on the HIVE blockchain. You can also follow me on InLeo for more frequent updates.

Until next time...

Resources

Idaho Bitcoin Image Generation by Venice AI [1]
Crypto Slate Article [2]
2024 Republican Convention Committee Report [3]
Dissolving Dollar Image [4]