Posted on 03/28/2018 11:33:11 AM PDT by MNDude
Sponsor: Rep. Mooney, Alexander X. [R-WV-2] (Introduced 03/22/2018) Committees: House - Financial Services Latest Action: House - 03/22/2018 Referred to the House Committee on Financial Services. (All Actions)
(Excerpt) Read more at congress.gov ...
Excellent!
Looks like we are getting ready to dump the Rothschild Reserve.
Holy cow. Bringing back the gold standard would be pretty disruptive to how things have been. I love that these ideas are back en vogue.
Great. Something else I have to look up :)
“Excellent!”
Why?
I’m no expert, but I would think a defined basket of metals would be better: gold, silver, platinum, copper, titanium, etc.
That would protect against a sudden “gold rush in the Yukon” from impacting the national currency.
Nice gesture, but I’m sure it will go nowhere.
Anything that would place the fiscal handcuffs on the spendthrifts inside that Beltway is DOA.
In theory I am in favor of this. In practical terms - there isn’t anywhere close to enough gold in the entire planet to cover how many dollars have been printed.
This will never go anywhere though. Maybe after the ARII.
reddit comment:
Too little too late.
They want to fix the notes because they are losing the fed. Look who is buying gold because they are f**ked.
Referred to committee where it will never see the light of day.
There is a theory that the molten interior of the planet if full of, besides iron, gold, silver and all the heavier metals that would have sunk to the core when the earth was first made.
They would be in layers, according to the weights of the metals................
Isn’t this sort of bill introduced almost every session?
You don't need that much because the assumption is that every single dollar bill will never be exchanged for gold. You just need enough gold to back a percentage of your currency.
In layers, according to the weights ...
I’d agree at the Earth’s surface.
But near the core, while rotating, perhaps the heavier ones would be propelled farther away from the core.
Like the ‘balancing’ fluid sometimes put into tires.
Maybe.
Depends on the angular momentum and the centrifugal force....................
So if I was rich start buying gold raising price and also value of my dollars at no risk ...
Hey, hey! What have we here?
Agreed, it I like that someone even proposed it...
“That would protect against a sudden “gold rush in the Yukon” from impacting the national currency”
Those sudden gold rushes were only a benefit when we were on a gold standard. The stress was when silver was discovered in a big way and there was pressure to have a bifurcated currency. The more metals in the basket, the more monkeyshines there will be.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.