It could also be geofenced. Can't use your phone to buy fireworks from out of state because it's illegal in your state. Or you can only spend this money at a local store, but not at a store in another town.
How to get voted out of office immediately.
Federal Reserve is not an elected office, nor is it a government agency. The Federal Reserve is a private organization.
You're placing a lot of faith in a system whose power would have long-since been stolen from the people.