Congress Sneaks in Crypto Currency Legislation

This isn’t a law yet, but we can see how the world continues to move towards everyone being forced away from cash and into an electronic currency. We know that Bitcoin won’t be allowed by the governments of the world for very long. There is no way they can afford to give up control of their currencies. But we can see the movement towards having their own. And yes, there will be a record of everything bought and sold.  And yes, one day you will need to show a mark in order to buy or sell anything.  We are the first generation to have the technology to fulfill Revelation and Daniel prophecies.

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As we saw, the Federal Reserve does not have the power to create Dollars directly. It seem like this power is now to be granted to them. Given that these new Reserve Notes are digital, this strangely merges two distinct forms of money as well.

Next, we saw that the distribution of Dollars was done through member banks. It isn’t clear if this remains the case. It clearly says that these digital Dollars can be issued “in addition” to the current Federal Reserve notes. There is nothing, at least not in this law, preventing the Federal Reserve from taking a more centralized and direct role in distributing the digital Dollar. Perhaps during the next “emergency.”

And finally, the Federal Reserve Board is to be authorized to create and distribute a “ledger-based” digital Dollar that could be used for everyday transactions. There are a few technologies one could imagine, but let us for now assume this will be a blockchain. Blockchains are great for recording transactions; it is what they do.

Perhaps that is why the Federal Reserve will be authorized to do so? However, it is a bit hard to imagine that such a centralized structure would not lead to monitoring of all transactions. And what about privacy? What about security?

 https://www.zerohedge.com/political/us-congress-quietly-sneaks-crypto-bill-amendment-authorizing-central-bank-digital