Thomas Massie of the US Congress says the Bitcoin Standard was the inspiration for him to bring back a bill that would end the FED. Massie has introduced the bill to eliminate the Federal Reserve.
“Americans are suffering under crippling inflation, and the Federal Reserve is to blame,” said Rep. Massie in a May press release. “During COVID, the Federal Reserve created trillions of dollars out of thin air and loaned it to the Treasury Department to enable unprecedented deficit spending. By monetizing the debt, the Federal Reserve devalued the dollar and enabled free money policies that caused the high inflation we see today.”
The legislation of Congressman Thomas Massie abolishes both the Board of Governors of FED and the Federal Reserve Banks. The Federal Reserve Act is also repealed. The Federal Reserve System that we know today was created by this act, which was passed in 1913.
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Thomas Massie, the Congressman from Massachusetts, explained in his post on X that he listened closely to the Bitcoin Standard Book so as to better understand Bitcoin jargon. He also says that the article does a good job of explaining how the Federal Reserve and money work. Bitcoin, he says, could become a catalyst to pass this bill. “Man, I may be the only one, maybe I’ll get two or three co-sponsors but I don’t care,” Massie says. “This needs to be done. I got two dozen co-sponsors. The number of cosponsors of the bill to end the Federal Reserve in 10 years has gone up 10X, which is remarkable.”
Former Representative Ron Paul, R-TX, first presented the Federal Reserve Board Abolition Act in 1999. Massie, however, is the first Congressman to introduce the bill in the last three years.
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Source: watcher.guru
