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IPFS News Link • Economy - Economics USA

Digital Dollar And Digital Wallet Bill Surface In The Senate

• Brandon Smith at

I've been warning about it for years, and now here it is right on our doorstep - The shift into a digital currency system and cashless society, a society in which all your transactions are tracked and you can never remove your wealth from the banks.  If this system is allowed to be established the last remnants of free markets and private trade will be crushed.  The only other option will be barter markets and black markets, which people need to be building in their communities RIGHT NOW....

A bill has surfaced in the Senate called the 'Banking For All Act', sponsored by the Ranking Member of the Senate Banking Committee, U.S. Senator Sherrod Brown (D-OH). In the press release, Senator Brown lays out the details of his bill as well as how he looks forward to urging his colleagues to include it as part of the coronavirus economic stimulus package.

'At the height of this pandemic we must do more to protect the financial wellbeing of hardworking Americans and consumers. They are on the front lines of this crisis and are already feeling the effects of the economic fallout. My legislation would allow every American to set up a free bank account so they don't have to rely on expensive check cashers to access their hard-earned money.'

Senator Sherrod Brown (D-OH)

This bill offers a definition for digital dollars as well as for a digital dollar wallet, and provides the provision for a pass-through digital dollar wallet with the mandate for all member banks to open and maintain digital dollar wallets for all persons, including those eligible to receive the stimulus.