▁the ▁Fed . ▁In ▁this , ▁the ▁Act ▁ ▁Inst ruct s ▁the ▁Secretary ▁of ▁the ▁Tre as ury ▁to ▁origin ate ▁" Un ited ▁States ▁M oney " ▁to ▁address ▁any ▁negative ▁fund ▁def ic it ▁sp ending ; ▁Sub ject s ▁to ▁criminal ▁and ▁civil ▁pen alt ies ▁any ▁person ▁who ▁eng ages ▁in ▁" f raction al ▁reserve ▁bank ing ;" ▁Pro hib its ▁federal ▁borrow ing ▁( except ▁by ▁a ▁national ▁bank , ▁federal ▁sav ings ▁association , ▁or ▁federal ▁credit ▁union ) ▁from ▁any ▁source ▁other ▁than ▁the ▁Tre as ury ; ▁Re qu ires ▁the ▁Tre as ury ▁Secretary ▁to ▁begin ▁the ▁process ▁of ▁ret iring ▁all ▁out standing ▁U . S . ▁deb t ▁by ▁pay ing ▁the ▁bear ers ▁in ▁" Un ited ▁States ▁M oney ;" ▁Direct s ▁the ▁Tre as ury ▁Secretary ▁to ▁purchase ▁all ▁net ▁financial ▁assets ▁in ▁the ▁Federal ▁Reserve ▁System , ▁including ▁the ▁Federal ▁reserve ▁banks , ▁and ▁to ▁return ▁all ▁res erves ▁held ▁by ▁the ▁Fed ▁to ▁the ▁member ▁banks ▁in ▁the ▁form ▁of ▁" Un ited ▁States ▁M oney ;" ▁Est ab lish es ▁various ▁institutions ▁to ▁replace ▁the ▁Fed ▁System : ▁( 1 ) ▁the ▁Mon et ary ▁Author ity ▁responsible ▁for ▁mon et ary ▁supply ▁policy ; ▁( 2 ) ▁the ▁Bureau ▁of ▁the ▁Federal ▁Reserve ▁that ▁admin ister s ▁ ▁" Un ited ▁States ▁M oney ;" ▁( 3 ) ▁the ▁Emer gency ▁Board ▁task ed ▁with ▁recomm ending ▁to ▁Congress ▁when ▁a ▁national ▁emer