The Democrat party is a neo liberal party that aims to transfer wealth and power from workers to corporations, they just want us to have a “safety net” to fall back on when our over exploitation breaks us.
The Democrats are not your friends. We can achieve way better than their sorry little steps of “progress”. Yay gays can get married now, too bad very few can afford to!
they just want us to have a “safety net” to fall back on when our over exploitation breaks us.
Do they?
I know the pitchforks are sharp and the torches are burning especially hot right now, but just yesterday those implements were being aimed at the payment processors that were once again throwing their weight around to censor the services that used them, in this latest case Steam. A bill like this one would help enable stablecoin alternatives to those payment processors to become more widespread. There may be some pieces of baby in this bathwater.
My main concern after reading about this bill in a bit more detail is that it doesn’t look very friendly for decentralized stablecoins, which I prefer over the centralized ones. But it’s a start. It seems to just ignore the centralized ones, it doesn’t actually prohibit or hinder them.
https://www.congress.gov/bill/119th-congress/house-bill/1919
This bill prohibits a Federal Reserve bank from offering products or services directly to an individual, maintaining an account on behalf of an individual, or issuing a central bank digital currency (i.e., a digital dollar). Further, the Board of Governors of the Federal Reserve System is prohibited from using a central bank digital currency to implement monetary policy or from testing, studying, creating, or implementing a central bank digital currency, with exceptions as provided by the bill.
Oh come the fuck on what. So the plan is to hand stable dollar digital payments entirely to private entities. Super Cool.
Absolutely dumb decision. Not as catastrophic as many other things but its a long term net negative. We should just be breaking up master card, visa etc. Crypto will never be as efficient as normal payment processors.
The problem here is that all of these politicians love money. Doesn’t matter what color their undies are.
