US Lawmakers Introduce 'ECASH' Bill in New Push to Create a Digital Dollar

[1srelluc]

A group of U.S. lawmakers says the U.S. Treasury Department may be the right government entity to create a digital dollar – not the Federal Reserve. A new bill introduced Monday would authorize just that.

Reps. Stephen Lynch (D-Mass.), Jesús Chuy Garcia (D-Ill.), Ayanna Pressley (D-Mass.) and Rashida Tlaib (D-Mich.) introduced the "Electronic Currency And Secure Hardware Act" (ECASH Act) to direct the Treasury Secretary to develop and issue an electronic version of the U.S. dollar, with an eye to preserving privacy and anonymity in transactions.

The electronic dollar, as defined in the bill, would be a bearer instrument that people could hold on their phone or a card. The system would be token-based, not account-based, meaning if someone were to lose their phone or card, they would lose the funds. In other words, it would be like losing a wallet with dollar bills in it.

This electronic dollar would be deemed legal tender and be functionally identical to a physical greenback.

US Lawmakers Introduce 'ECASH' Bill in New Push to Create a Digital Dollar

Piss on all that, anything with Rashida Tlaib's fingerprints on it can't be good for the country.

 

[Dekster]

A group of U.S. lawmakers says the U.S. Treasury Department may be the right government entity to create a digital dollar – not the Federal Reserve. A new bill introduced Monday would authorize just that.

Reps. Stephen Lynch (D-Mass.), Jesús Chuy Garcia (D-Ill.), Ayanna Pressley (D-Mass.) and Rashida Tlaib (D-Mich.) introduced the "Electronic Currency And Secure Hardware Act" (ECASH Act) to direct the Treasury Secretary to develop and issue an electronic version of the U.S. dollar, with an eye to preserving privacy and anonymity in transactions.

The electronic dollar, as defined in the bill, would be a bearer instrument that people could hold on their phone or a card. The system would be token-based, not account-based, meaning if someone were to lose their phone or card, they would lose the funds. In other words, it would be like losing a wallet with dollar bills in it.

This electronic dollar would be deemed legal tender and be functionally identical to a physical greenback.

US Lawmakers Introduce 'ECASH' Bill in New Push to Create a Digital Dollar

Piss on all that, anything with Rashida Tlaib's fingerprints on it can't be good for the country.

Okay but we already have digital dollars. Swipe swipe swipe. It is why some people have to go get a cashier's check if they have to have a check since people don't buy them any more.

 

[1srelluc]

Okay but we already have digital dollars. Swipe swipe swipe. It is why some people have to go get a cashier's check if they have to have a check since people don't buy them any more.

Sure, but that's (currently) between the user and the private entity that is servicing the user.

 

[007]

"The government," pushing one step closer to banning all hard cash. CONTROL over EVERYTHING is their ultimate goal.

 

[Natural Citizen]

Vee eenfeeltrate zee cabinets.

You veel own nussing uhnt you veel be happy...

 

[Dekster]

Sure, but that's (currently) between the user and the private entity that is servicing the user.

The only difference here is that they are creating a black market way to engage in untraceable dollar transactions. A dollar will still be a dollar whether their dollar token a dollar bill, or an electronic funds transfer.

 

[Natural Citizen]

A group of U.S. lawmakers says the U.S. Treasury Department may be the right government entity to create a digital dollar – not the Federal Reserve. A new bill introduced Monday would authorize just that.

Reps. Stephen Lynch (D-Mass.), Jesús Chuy Garcia (D-Ill.), Ayanna Pressley (D-Mass.) and Rashida Tlaib (D-Mich.) introduced the "Electronic Currency And Secure Hardware Act" (ECASH Act) to direct the Treasury Secretary to develop and issue an electronic version of the U.S. dollar, with an eye to preserving privacy and anonymity in transactions.

The electronic dollar, as defined in the bill, would be a bearer instrument that people could hold on their phone or a card. The system would be token-based, not account-based, meaning if someone were to lose their phone or card, they would lose the funds. In other words, it would be like losing a wallet with dollar bills in it.

This electronic dollar would be deemed legal tender and be functionally identical to a physical greenback.

US Lawmakers Introduce 'ECASH' Bill in New Push to Create a Digital Dollar

Piss on all that, anything with Rashida Tlaib's fingerprints on it can't be good for the country.

In other news, we're seeing real money re-emerging at the State level in the form of "Voluntary Local Currency".

Relevant reading...

Trump renews call for negative U.S. interest rates

To put it country simple, and borrowing in agreement from a fellow observer's thought on the matter, the implementation of digital currencies free the central bankers and speculators from having to use slower, clumsier means of manipulating stocks, bonds, commodities, and currencies in order to...

www.usmessageboard.com

Trump renews call for negative U.S. interest rates

Yes NC, the government has no business what we do with our own money- these current idiots in charge will suffer deserved loses in 2022 and 2024. I saw that Canada was trying to freeze cryptocurrecy accounts under its so-called Emergency Act. That whole cryptocurrency thing is such a trap...

www.usmessageboard.com

 

[1srelluc]

The only difference here is that they are creating a black market way to engage in untraceable dollar transactions. A dollar will still be a dollar whether their dollar token a dollar bill, or an electronic funds transfer.

LOL.....What's next, are they going to dig-up those failed virtue-signaling dollar coins again?

 

[Dekster]

LOL.....What's next, are they going to dig-up those failed virtue-signaling dollar coins again?

I still have a dollar coin in my truck from the change machine at a hospital that gave them out.

 

[TroglocratsRdumb]

A group of U.S. lawmakers says the U.S. Treasury Department may be the right government entity to create a digital dollar – not the Federal Reserve. A new bill introduced Monday would authorize just that.

Reps. Stephen Lynch (D-Mass.), Jesús Chuy Garcia (D-Ill.), Ayanna Pressley (D-Mass.) and Rashida Tlaib (D-Mich.) introduced the "Electronic Currency And Secure Hardware Act" (ECASH Act) to direct the Treasury Secretary to develop and issue an electronic version of the U.S. dollar, with an eye to preserving privacy and anonymity in transactions.

The electronic dollar, as defined in the bill, would be a bearer instrument that people could hold on their phone or a card. The system would be token-based, not account-based, meaning if someone were to lose their phone or card, they would lose the funds. In other words, it would be like losing a wallet with dollar bills in it.

This electronic dollar would be deemed legal tender and be functionally identical to a physical greenback.

US Lawmakers Introduce 'ECASH' Bill in New Push to Create a Digital Dollar

Piss on all that, anything with Rashida Tlaib's fingerprints on it can't be good for the country.

These greedy corrupt far left extremist Democrat want to steal every last dime that people have.
The Democrat economic motto is: Your Paycheck Is My Paycheck

 

[Esdraelon]

These greedy corrupt far left extremist Democrat want to steal every last dime that people have.
The Democrat economic motto is: Your Paycheck Is My Paycheck

Digital currency takes it even further. It will allow them to program HOW you can spend the little you have left. They'' probably make it illegal to barter as a means of getting around their controls.

 

[1srelluc]

Digital currency takes it even further. It will allow them to program HOW you can spend the little you have left. They'' probably make it illegal to barter as a means of getting around their controls.

Ding, ding, ding.....Winner, winner, chicken dinner!

 

[jwoodie]

Another way to mask the devaluation of the dollar and its replacement as the world's reserve currency.

 

[badbob85037]

A group of U.S. lawmakers says the U.S. Treasury Department may be the right government entity to create a digital dollar – not the Federal Reserve. A new bill introduced Monday would authorize just that.

Reps. Stephen Lynch (D-Mass.), Jesús Chuy Garcia (D-Ill.), Ayanna Pressley (D-Mass.) and Rashida Tlaib (D-Mich.) introduced the "Electronic Currency And Secure Hardware Act" (ECASH Act) to direct the Treasury Secretary to develop and issue an electronic version of the U.S. dollar, with an eye to preserving privacy and anonymity in transactions.

The electronic dollar, as defined in the bill, would be a bearer instrument that people could hold on their phone or a card. The system would be token-based, not account-based, meaning if someone were to lose their phone or card, they would lose the funds. In other words, it would be like losing a wallet with dollar bills in it.

This electronic dollar would be deemed legal tender and be functionally identical to a physical greenback.

US Lawmakers Introduce 'ECASH' Bill in New Push to Create a Digital Dollar

Piss on all that, anything with Rashida Tlaib's fingerprints on it can't be good for the country.