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REPLY TO THREAD
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Subject
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Democrats Introduce Digital Currency Bill -- Don't Let It Happen!
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Original Message
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Here it is folks. The first step to creating a digital cashless society, where every transaction--even buying an old toaster at a garage sale--will be subject to taxation. SPONSORED BY DEMOCRATS OF COURSE.
Call your senators and tell them NO!
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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'd 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.
[link to www.msn.com (secure)]
[less than 50 percent]
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