This bill is absolutely terrible.  Although it does attempt to end fractional reserve banking, it codifies in congress how much money will be created each year(arbitrarily).  It also gives power to the president under a declared 'national emergency'.  It sets up pre-funding for 'universal healthcare' to be later authorized by congress.  Read that bill, it is horrible.  This will be worse than the fed ever dreamed of being.

No sane monetary economist would be able to understand this congressional Act of insanity. Congress should instead pass a law mandating the creation of a congressional school of economics exclusively for politicians where they would be required to study and learn fiscal and monetary discipline. I am one of those millions of Americans who are ashamed of their irrelevant presence in Congress … Remunerating their ignorance is a total waste of our tax money.