[Plainsman]

S.3571 - Banking for All Act116th Congress (2019-2020)

BILL
Hide Overview

Sponsor:	Sen. Brown, Sherrod [D-OH] (Introduced 03/23/2020)
Committees:	Senate - Banking, Housing, and Urban Affairs
Committee Meetings:	06/30/20 10:00AM
Latest Action:	Senate - 06/30/2020 Committee on Banking, Housing, and Urban Affairs. Hearings held. (All Actions)
Tracker: Tip	This bill has the status Introduced Here are the steps for Status of Legislation: Introduced

More on This Bill

• CBO Cost Estimates [0]

Subject — Policy Area:

• Finance and Financial Sector
• View subject

This is an older bill that is rearing its ugly head again as of this last March.

I lost the original article and can't find it again, but they called this bill the ultimate censorship tool. Perhaps without surrendering to this we may not be able to buy or sell. It has a global push right now.

Edit: It appears this is how the democrats want to issue stimulus money to people. Don't sign up and you dont get any. Also Forbs explains they talk of a centralized world bank. Not good.

Forbs:

Never let a crisis go to waste. That’s what the Democrats always think. This Coronavirus Pandemic caused by COVID-19 is no different. What the Democrats can’t do through the normal political process, they hope to do by exploiting this crisis.

While Americans die and small business withers, the Democratic Party led by Nancy Pelosi and Chuck Schumer have launched a stealth plan to remake the American economy. The makeover is comprehensive including everything from new regulations to a plan to launch a Digital Dollar.

Forbes provides the important details. According to the report the Democrats are exploring making stimulus payments to Americans via this new digital currency.

And Forbes makes clear, this is a big deal. They write, “In what will send shock waves through the cryptocurrency and blockchain industry, particularly for those following central bank digital currencies around the world, this signals the U.S. is serious in establishing infrastructure for a central bank digital currency.”

And it will send shockwaves through personal liberty advocates and students of End Times prophecies.

It is the stuff of dispsenationalist fears—where a government through its digital currency controls who is and is not allowed to buy goods or conduct business.

This type of centrally controlled digital dollar could allow the state to limit access to funds based on one’s standing (or social credit) with the regime.

It gives a modern look to Mark of the Beast.

Are you comfortable with this Democratic proposal?

 

[Chuck Smith]

One thing to look at is the date of everything... above is 6/30/20...and in the bill it had things of Jan 1,2021. So I dont know if this got passed or shot down.... BUT...here is the text of that bill.

Text - S.3571 - 116th Congress (2019-2020): Banking for All Act | Congress.gov | Library of Congress

Here is my thoughts on this... again dont know if it happened or not.

Now I dont 100% get it. But it looks like what the Fed wants to do is make a "digital dollar" account for each bank and then the members of those banks can get an individual "digital dollar wallet". Which would transfer funds to and from the big account at the bank.

Now what I am thinking is that this is two things.....

1: A way to combat crypto in some way or to regulate it. Kind of like coming up with a "new" crypto but is backed by the Fed.

2: Is this away for the IRS to deposit/with drawl or another gov entity to put money into your accounts. IE: Streamline it and put it on the banks themselves. Example is lets say one bank has 100 customers who will be getting tax refunds. So instead of the Feds doing 100 individual transactions for direct deposits they will send that money to the bank and then the bank will divvy it out to those clients into the "digital wallets". Then they can track how you spend that money via: debit cards, automatic bill pay, etc. It also seems that the "digital wallets" cant get user fees, have minimum balances, etc.

So yeah it is kind of looking like they are dipping their toes into a "country wide" bank or a "national bank" type thing. They seem to be "mascarading" it as better protections for the user....ie: no fees, no minimum balances, cant be closed/restricted because of profitability, etc. But it wont have any overdraft coverage.

 

[Plainsman]

I seen that date, but this is one of their desires. I dont think they ever voted on it, but it's one of those bills they keep alive waiting for the opportune time, like the night before a major holiday. Vigilance is key, especially with a wounded animal, which they know is coming. Currently they are counting on a summer of burning and looting. That will keep people's attention while they attempt to burn the constitution.

 

[Chuck Smith]

Plainsman.... I agree many in the world think a "world" currency is the way to go. Look at how the Euro was pushed. Yet the UK and others didn't convert over to it. More of the smaller "less stable" countries use it more than their own currency. Where as in more established or "stable" countries the still "main" form of currency is their own.

But I also think this was going after "crypto" more than anything. Then regulate crypto so they can tax it and also "control" it and its gains.