Proposed: ABC Act to mint Trillion Dollar Coins

[Pauls' Revere]

Introduced by Talib & Jayapal

https://www.youtube.com/watch?v=tYPvWTRwgH4

https://www.pymnts.com/news/payment-...gital-dollars/

To help provide U.S. taxpayers with stimulus payments to get through the recession brought about by the coronavirus, the idea of a digital dollar has been brought to light once again by legislators. The Automatic BOOST to Communities Act (ABC Act) reintroduces the digital dollar concept and uses similar language to legislation brought forward in March per Coindesk.

The bill was brought forward on the heels of continuing troubles with the $1,200 stimulus payments that the CARES Act authorized. The Internal Revenue Service (IRS) has been giving out payments to taxpayers. However, many people have not received their funds or have the ability to verify the status of their payments because of problems.

Under the ABC Act, Congress would have the Fed make “FedAccounts” that would let citizens, companies and residents in the nation access financial services. Legislation from Thursday indicated per the report that “no later than January 1, 2021, the Secretary shall offer all recipients of BOOST payments the option to receive their payments in digital dollar wallets.”

[Bern]

Congress is going to pass something along these lines eventually. CBDCs are coming. Financial privacy in the future will be in great peril. Or, maybe people will develop a robust barter economy. Who knows...

[PAF]

Congress is going to pass something along these lines eventually. CBDCs are coming. Financial privacy in the future will be in great peril. Or, maybe people will develop a robust barter economy. Who knows...

Barter? NOT LOL.

Everything, everybody will tracked.

Now, there is a limit of 2 cans of tuna, 1 case of water, etc. That doesn’t stop me because I walk in, pay, leave and go back in again.

With everything tracked by .gov, even if you go to another store, they will know that you already purchased your 2 cans so the transaction will be rejected.

Barter? Perhaps if you live by a farm. Otherwise, for other food items not grown/raised in your area, inventory at stores will be tracked and monitored. At that point, everything will be taxed, food, clothes and all.

[Pauls' Revere]

Barter? NOT LOL.

Everything, everybody will tracked.

Now, there is a limit of 2 cans of tuna, 1 case of water, etc. That doesn’t stop me because I walk in, pay, leave and go back in again.

With everything tracked by .gov, even if you go to another store, they will know that you already purchased your 2 cans so the transaction will be rejected.

Barter? Perhaps if you live by a farm. Otherwise, for other food items not grown/raised in your area, inventory at stores will be tracked and monitored. At that point, everything will be taxed, food, clothes and all.

Yep, wait for FED Coin and it'll all be on the ledger and taxed accordingly in real time. Also, FED Coins can be coded so they can have a lifespan or deadman switch where you better use it or lose it. That'll get the money spent faster and even for particular items and/or stores.