More than 100 Democrats in the U.S. House of Representatives helped Republicans send what would be the country's first major cryptocurrency law to the desk of President Donald Trump.
This bill prohibits a Federal Reserve bank from offering products or services directly to an individual, maintaining an account on behalf of an individual, or issuing a central bank digital currency (i.e., a digital dollar). Further, the Board of Governors of the Federal Reserve System is prohibited from using a central bank digital currency to implement monetary policy or from testing, studying, creating, or implementing a central bank digital currency, with exceptions as provided by the bill.
Oh come the fuck on what. So the plan is to hand stable dollar digital payments entirely to private entities.
Super Cool.
Technically that is how it has always been in the USA. The major banks were always private and overseen/regulated by the Board of Governors and they all have seats at the Federal Reserve Board, with leaders selected by a sitting US president and Speaker of the House, and which span multiple administrations.
The US Treasury controls money creation by setting Interest Rates to limit the creation of money and by producing or destroying cash.
All this says is that the treasury cannot do something it already wasn’t doing.
These people have always wanted to escape accountability to the community. They want nothing more than to be free to use their considerable wealth and influence without regard for anything but their own interests. Private power seeks to destroy public power and escape the confines of other people’s needs.
Are you just waking up from a coma? Because they’ve been pretty open about wanting to privatize the government and run it like a business. Mitt Romney basically campaigned on that over a decade ago.
https://www.congress.gov/bill/119th-congress/house-bill/1919
Oh come the fuck on what. So the plan is to hand stable dollar digital payments entirely to private entities. Super Cool.
Technically that is how it has always been in the USA. The major banks were always private and overseen/regulated by the Board of Governors and they all have seats at the Federal Reserve Board, with leaders selected by a sitting US president and Speaker of the House, and which span multiple administrations.
The US Treasury controls money creation by setting Interest Rates to limit the creation of money and by producing or destroying cash.
All this says is that the treasury cannot do something it already wasn’t doing.
These people have always wanted to escape accountability to the community. They want nothing more than to be free to use their considerable wealth and influence without regard for anything but their own interests. Private power seeks to destroy public power and escape the confines of other people’s needs.
Does it stop me from using foreign entities? Because if not and it’s a must have I’ll poor my equity somewhere else.
Are you just waking up from a coma? Because they’ve been pretty open about wanting to privatize the government and run it like a business. Mitt Romney basically campaigned on that over a decade ago.