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Started By
Message
Three Congressmen Introduce Gold Standard Bill to Stabilize the Dollar's Value
Posted on 4/6/23 at 8:07 am
Posted on 4/6/23 at 8:07 am
quote:
Rep. Alex Mooney (R-WV) - joined by Reps. Andy Biggs (R-AZ) and Paul Gosar (R-AZ) - introduced H.R. 2435, the “Gold Standard Restoration Act,” to facilitate the repegging of the volatile Federal Reserve note to a fixed weight of gold bullion.
Upon passage of H.R. 2435, the U.S. Treasury and the Federal Reserve are given 24 months to publicly disclose all gold holdings and gold transactions, after which time the Federal Reserve note “dollar” would be formally repegged to a fixed weight of gold at its then-market price.
Federal Reserve notes would become fully redeemable for and exchangeable with gold at the new price, with the U.S. Treasury and its gold reserves backstopping Federal Reserve Banks as guarantor.
Monetary experts have noted a return to a gold standard would substantially curtail the economic damage caused by inflation, runaway federal debt, and monetary system instability.
“A gold standard would protect against Washington's irresponsible spending habits and the creation of money out of thin air," said Rep. Mooney in a statement.
"Prices would be shaped by economics rather than the instincts of bureaucrats. No longer would American families, businesses, and the economy as a whole be at the mercy of the Federal Reserve and reckless Washington spenders.”
The Gold Standard Restoration Act also makes several findings as to the harm the Federal Reserve System has inflicted on everyday Americans - particularly since President Richard Nixon “temporarily suspended” gold backing of America's monetary system in 1971.
LINK
Bill status.
Posted on 4/6/23 at 8:09 am to GumboPot
It's pretty crazy the US has not allowed a full audit and inventory of Federal gold reserves in 50-60 years.
China, Russia, India, and other nations who are banding together, hoping to unseat the USD as the global reserve currency have been stockpiling gold for years.....it's almost like they have a plan.
China, Russia, India, and other nations who are banding together, hoping to unseat the USD as the global reserve currency have been stockpiling gold for years.....it's almost like they have a plan.
This post was edited on 4/6/23 at 8:12 am
Posted on 4/6/23 at 8:13 am to ezride25
It's all buried with one eyed willy
Posted on 4/6/23 at 8:14 am to ezride25
quote:
There is no gold.
Well, Ron Paul believes US gold reserves are a fraction of what the American people have been led to believe.
Posted on 4/6/23 at 8:16 am to GumboPot
Sounds great in theory and to stop inflation.
But we better become a net exporter or else we are just giving gold away rather than worthless paper.
But we better become a net exporter or else we are just giving gold away rather than worthless paper.
Posted on 4/6/23 at 8:17 am to GumboPot
If you want USD to be replaced as the world's reserve currency, this is the way to do it.
This post was edited on 4/6/23 at 8:18 am
Posted on 4/6/23 at 8:18 am to GumboPot
Too little, too late.
Ron Paul warned us.
Rest of the world is about to give a middle finger to us and Western Europe, and prob rightly so.
Invest in crypto.
Ron Paul warned us.
Rest of the world is about to give a middle finger to us and Western Europe, and prob rightly so.
Invest in crypto.
Posted on 4/6/23 at 8:22 am to GumboPot
Looks like they’ve been listening to Tucker Carlson…
Posted on 4/6/23 at 8:23 am to SlowFlowPro
quote:no details, no surprise
If you want USD to be replaced as the world's reserve currency, this is the way to do it.
too busy attempting to silence others?
or protecting the neo-Bolsheviks.
Posted on 4/6/23 at 8:23 am to Bass Tiger
quote:
China, Russia, India, and other nations who are banding together, hoping to unseat the USD as the global reserve currency
When do they expect to accomplish this? 2070? 2100?
Russia and China will implode before a BRICS currency can get 10% worldwide usage, which will in no way "unseat" USD
Posted on 4/6/23 at 8:26 am to JJJimmyJimJames
quote:
no details, no surprise
What details do you want?
The gold standard led to incredible volatility and inflexibility. That is exactly the opposite of why USD has become the world's reserve currency. Even with all the post-Covid bullshite, the USD was affected less than all other major currencies, making it stronger in the face of worldwide chaos.
quote:
too busy attempting to silence others?
Posted on 4/6/23 at 8:26 am to ezride25
quote:
There is no gold.
There is some, but not nearly enough. In the short term, this will hurt, but at least we'll have a better grip on what the dollar's true value is.
Posted on 4/6/23 at 8:27 am to SlowFlowPro
yes too busy silencing others..
Posted on 4/6/23 at 8:28 am to JJJimmyJimJames
Would be about par for the course of fort knox only contains a few pallets of gold and the rest has been squandered over the years.
Posted on 4/6/23 at 8:29 am to GumboPot
It won't happen. It wouldn't help at this point regardless. Too much money out there.
Posted on 4/6/23 at 8:32 am to JJJimmyJimJames
quote:
yes too busy silencing others.
I've never "silenced" anyone and have defended those who were censored (like with people threatened with banning for criticizing the Q thread while that insanity was going on)
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