US Congress Quietly Sneaks In Crypto-Bill Amendment Authorizing Central Bank Digital Currency

• When is the Mark of the Beast coming? Next year: Mark of The Beast Va_xcine with Global ‘666’ ID. That’s my assessment.
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• US Congress Quietly Sneaks In Crypto-Bill Amendment Authorizing Central Bank Digital Currency
  by Wesley Thysse via DecentralizedLegalSystem.com, via https://www.zerohedge.com/
  The future of money is here; will the Federal Reserve Board be authorized to use distributed ledger technology for the creation, distribution and “recordation” of all the transactions of a Digital Dollar?
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  On July 28, 2021, a new bill was introduced in the US House of Representatives. This bill, sponsored by Congressman Don Beyer,1) aims to regulate crypto-currencies. But it does more…
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  The bill is called the “Digital Asset Market Structure and Investor Protection Act”2) (“Digital Asset Bill”). And for the majority, it sets out future rules for crypto. However, hidden in this bill, changes to the foundation of the Dollar are proposed.
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  And because nobody outside crypto (and frankly, few inside crypto) actually read the bill, these amendments have so far largely gone unnoticed.
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  <Changing the Nature of Money_
  Crypto-currencies have been making waves. Fans of crypto think they have the new medium of exchange. However, in the current proposed regulations, Congress clearly takes a strict approach towards crypto and its various use cases. The following article provides an overview of these new US crypto regulations.
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  Included in the Digital Asset Bill, amendments to the Federal Reserve Act and the definition of legal tender are proposed. These amendments drastically expand the powers of the Federal Reserve, and change how money is created and distributed in the US.
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  <The Dollar and the Federal Reserve_
  Instrumental in the creation of the US Dollar is the Federal Reserve. It was set up in 1913 as a reaction to the 1907 financial crisis. During this crisis, Finance mogul J.P. Morgan, who had bailed the government out of a financial crisis in 1895, had to organize private sector investments and lines of credit to stabilize the banking system.
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  The original idea behind the Federal Reserve was for private bank deposits to be combined in a reserve. This could provide an emergency line of credit in times of economic stress.
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  <What The FED Does: Creation of Digital and Physical Dollars_
  Contrary to what is widely understood, the Fed does not “print money.” It can only manage the money supply indirectly. It is the private sector that “creates” most of what we use as money in the modern banking system. They do this by issuing credit to the market.
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  It is with the supply of credit by private banks that the monetary supply is inflated. Conversely, with the reduced demand for credit, the money supply deflates. The FED does not have as much direct influence on this process as it wants the market to believe.
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  In addition, the FED is responsible for the distribution of Federal Reserve Notes (those little papers we know and use as Dollars). Currency departments at each of the 12 Federal Reserve banks make recommendations about future currency needs. The banks then place orders with the Comptroller of the Currency. After reviewing the requests, the Comptroller forwards them to the Bureau of Engraving and Printing, which then produces the appropriate denominations of currency notes. The Federal Reserve distributes these through its member banks.
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  To summarize: the Federal Reserve does not directly create digital money. And, it also doesn’t create physical money (notes and coins).
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  read more.

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