U.S. Congressman Thomas Massie Proposes Bill to Abolish Federal Reserve After Reading Bitcoin Book

Massie cites 'The Bitcoin Standard' as inspiration for legislation seeking to dismantle America’s central banking system.

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Summary

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Terms & Concepts
  • Federal Reserve: The central banking system of the United States, responsible for monetary policy, financial stability, and regulation of banks.
  • The Bitcoin Standard: A book by economist Saifedean Ammous advocating Bitcoin as a superior monetary system compared to fiat currencies.
  • Legislation: A proposed law brought before a legislative body, such as the U.S. Congress, for debate and approval.