Digital Dollars

Read: In Unprecedented Monetary Overhaul, The Fed Is Preparing To Deposit "Digital Dollars" Directly To "Each American"

This is an article published by Zerohedge by an anonymous source, that claims that Cleveland Fed President Loretta Mester is proposing basically the following.  First, give each American a digital bank account directly at the Federal Reserve.  Second, give the Fed the authority to issue "recession insurance bonds", which would be an asset on the Fed's balance sheet and allow it to create digital cash, which would be wired directly to each American. This would partially replace the current banking system.  Third, at some point get rid of physical cash and replace it with digital cash.  It is worth a read.