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USA Congressmen Introduce “Gold Standard” Bill to Stabilize the Dollar’s Value
I’m pleased to see Representatives from my State here in Arizona co-sponsoring a Bill to return the US Dollar to a Gold Standard!
The bill was introduced on March 30, 2023 to define the dollar as a fixed weight of gold, and for other purposes.
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.
I am skeptical that this Bill will gain much serious attention in Congress but it will serve to continue the public’s awareness on the difference between fiat currencies (debt notes) and money (true store of value).
Meanwhile…
Texas to Federal Reserve Bank: S***w your CBDC S*****y Plan!
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New Texas Bill Would Create State-Issued Gold-Backed Digital Currency
Bills introduced in the Texas House and Senate would create a state-issued, gold-backed digital currency. Enactment of this legislation would create an option for people to transact business in sound money, set the stage to undermine the Federal Reserve’s monopoly on money and create a viable alternative to a central bank digital currency (CBDC).
Creating a gold-backed digital currency would be another step in the process of abolishing the Federal Reserve system.
The Texas Senate Bill 2334 was introduced on March 10. This legislation would require the state comptroller to establish a digital currency that is fully backed by gold and fully redeemable in cash or gold as well. The comptroller would also be required to create a mechanism to use this gold-backed digital currency in everyday transactions.
Source: @GCR_RealTimeNews
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