Bitcoin

<h4><strong>The “Bitcoin Standard” book explores the history of money. It advocates Bitcoin as a strong alternative to fiat currencies and central banks.</strong></h4> 
<p>Massie explained that reading “<a href="https://saifedean.com/tbs" target="_blank" rel="noopener">The Bitcoin Standard</a>” was a pivotal moment that shaped his understanding of monetary policy.</p> 
<h5><strong>“The Bitcoin Standard” Sparks Legislative Action</strong></h5> 
<p>It highlighted the inherent flaws of the current fiat system overseen by the Federal Reserve. The book argues that Bitcoin’s decentralized nature offers a more secure, transparent, and immutable form of currency. It is free from the manipulations and inefficiencies often associated with central banks.</p> 
<p>Massie’s bill proposes a plan to dismantle the Federal Reserve System (FED). The <a href="https://www.altcoinbuzz.io/?s=FED" target="_blank" rel="noopener">FED</a> has been the central banking authority in the United States since its establishment in 1913. The Federal Reserve’s primary functions include regulating the money supply and stabilizing the financial system. It also provides financial services to depository institutions, the U.S. government, and foreign official institutions.</p> 
<p>Critics like <a href="https://x.com/RepThomasMassie" target="_blank" rel="noopener">Massie</a> argue that the Fed’s control over monetary policy leads to economic distortions, inflation, and a lack of accountability.</p> 
<p><img decoding="async" class="wp-image-143088 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/06/vcxxccdccdcd-300x274.jpg" alt="" width="526" height="480" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/06/vcxxccdccdcd-300x274.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/06/vcxxccdccdcd.jpg 393w" sizes="(max-width: 526px) 100vw, 526px"></p> 
<h6 style="text-align: center;"><strong>Source: <a href="https://x.com/BitcoinMagazine/status/1801295100925849958" target="_blank" rel="noopener">X</a></strong></h6> 
<p>“The Bitcoin Standard” emphasizes the benefits of a decentralized financial system where money cannot be arbitrarily created or manipulated by a central authority. It suggests that Bitcoin, with its fixed supply and transparent ledger, can prevent the inflationary pressures that devalue fiat currencies over time. Massie resonates with these ideas, believing that transitioning to a <a href="https://www.altcoinbuzz.io/?s=bitcoin" target="_blank" rel="noopener">Bitcoin</a> standard could restore financial stability and integrity.</p> 
<h5><strong>More About Abolishing the FED</strong></h5> 
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     One year ago, Dennis Porter, CEO and Co-Founder of the Satoshi Act Fund, led a group of Bitcoin advocates from the <a href="https://x.com/orangepillapp" target="_blank" rel="noopener">Orange Pill organization</a> to the U.S. Congress. During their visit, they distributed copies of “The Bitcoin Standard” to every congressional office in Washington, D.C.
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    <img decoding="async" class="wp-image-143095 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/06/cxvcvvbcbvbnv-272x300.jpg" alt="" width="478" height="527" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/06/cxvcvvbcbvbnv-272x300.jpg 272w, https://www.altcoinbuzz.io/wp-content/uploads/2024/06/cxvcvvbcbvbnv-381x420.jpg 381w, https://www.altcoinbuzz.io/wp-content/uploads/2024/06/cxvcvvbcbvbnv.jpg 396w" sizes="(max-width: 478px) 100vw, 478px">
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   <h6 style="text-align: center;"><strong>Source: <a href="https://x.com/Dennis_Porter_/status/1801347635347132707" target="_blank" rel="noopener">X</a></strong></h6> 
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     Among the recipients was Congressman Thomas Massie, who later cited the book as a significant influence on his decision to introduce a bill aimed at dismantling the Federal Reserve.
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<h6><strong>Disclaimer</strong></h6> 
<p>The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted risk tolerance levels of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.</p> 
<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/us-congressman-cites-bitcoin-in-bill-to-abolish-fed/">US Congressman Cites Bitcoin in Bill to Abolish FED</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.</p>

US Congressman Cites Bitcoin in Bill to Abolish FED

Altcoin Buzz

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