Three Congressmen Introduce Gold Standard Bill to Stabilize the Dollar's Value

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Three Congressmen Introduce Gold Standard Bill to Stabilize the Dollar's Value​

Posted on April 4th, 2023

Washington, DC - As America faces the twin threats of inflation and bank failures, three U.S. congressmen introduced a pivotal sound money bill that would enable the Federal Reserve note “dollar” to regain stable footing for the first time in more than half a century.

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.

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Republican's are still pushing bills that they know have no chance of becoming law? Hey remember when they did that with the "repeal and replace" act? And then they finally won in 2016 so now they could actually "repeal and replace" Obama's health care plan instead of campaigning on it?
 
something something pegging joke

No need to set a hard peg ala the classical gold standard. A free floating value of gold will suffice if it's put on an even playing field with the dollar (removing the dollar's legal tender monopoly and removing capital gains and sales taxes from bullion). Trying to peg the dollar to gold at this point would entail some chaotic dislocations.
 
Trying to peg the dollar to gold at this point would entail some chaotic dislocations.
To say the least.

When Nixon had us default on our obligations in '71, our gold would have ran out in about in two weeks time at the rate it was being depleted.
...and with the current state of fiscal affairs, it prolly wouldn't last two days if the "temporary" halting of currency redeemability were to be ended.
 
Gov isn't going to give up their unlimited printing press, it will never fly.
 
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