Reps. Stephen Lynch (D-Mass.), Jesús Chuy Garcia (D-Ill.), Ayanna Pressley (D-Mass.), and Rashida Tlaib (D-Mich.), all Democrats, have introduced the “Electronic Currency And Secure Hardware Act” (ECASH Act) that does far more than just creating a digital currency. This Act cleverly strips the Federal Reserve of its authority to create the money.
There will be no centralized ledger or distributed ledger for it will be non-traceable thereby better than crypto. It is to utilize secured hardware software and it’s issued by the Treasury which eliminates the Federal reserve putting the creation of money in the hands of the White House. They are clever for this will be fully anonymous transactions just like paper money today rather than Blockchains that are designed to track every transaction, which means the government can therefore tie every transaction to the sender and receiver.**
They're trying to trick us into accepting digital currency.
Fiat cash might suck, but a completely digital currency will make everything suck 1000x more. Blockchain tracks everything, it is NOT anonymous like cash is.
The only right move away from fiat is back to commodity based currency.
frankenham 1 points 3 years ago
Bullshit.
They're trying to trick us into accepting digital currency.
Fiat cash might suck, but a completely digital currency will make everything suck 1000x more. Blockchain tracks everything, it is NOT anonymous like cash is.
The only right move away from fiat is back to commodity based currency.