Posted on 04/05/2018 9:08:42 PM PDT by WisconsinRep
Legislation introduced in Congress recently would define the U.S. dollar as a fixed amount of gold, a move that supporters say would help stabilize the monetary system while protecting savers, workers, and investors from the ravages of inflation. If signed into law, the bill would also restrict the ability of the controversial Federal Reserve System to confiscate the American people's wealth and manipulate the economy by expanding the currency supply. President Donald Trump has publicly supported the idea of returning to a gold-backed dollar, but the prospects for the new legislation remain uncertain.
The legislation, H.R. 5404, would “define the dollar as a fixed weight of gold,” according to a summary posted at govtrack.us. Sponsored by Representative Alex Mooney (R-W.V.), the bill would order the Secretary of the Treasury to define the U.S. dollar as an amount of gold, based on that day's closing market price, two and a half years after the measure is enacted. It would also order all Federal Reserve Banks to make Federal Reserve notes (dollars) exchangeable for gold at the statutory gold definition of the dollar. In short, you could trade the pieces of paper in your wallet for real money.
(Excerpt) Read more at thenewamerican.com ...
The bill has zero cosponsors.
https://ballotpedia.org/Alexander_Mooney
Alexander “Alex” Mooney (b. June 7, 1971, in Washington, D.C.) is a Republican member of the U.S. House of Representatives from the state of West Virginia. Mooney represents West Virginia’s 2nd Congressional District. He was elected on November 4, 2014. He was the first Hispanic elected to represent West Virginia in Congress. Mooney won re-election in 2016... He was a Republican member of the Maryland State Senate, representing District 3 from 1999 to January 12, 2011. Mooney was a potential 2012 Republican candidate for the U.S. House representing the 6th Congressional District of Maryland. Mooney formed an exploratory committee in early December 2011 to prepare for a 2012 run, if Roscoe Bartlett retired; however, Mooney decided not to run in 2012.
These are the reasons the Deep State is so determined to keep Putin and DJT apart...
Putin wants to go ‘Gold”
https://www.youtube.com/watch?v=NeWY-beyt50&t=70s
Putin kicks out NWO/Rothschild
https://www.youtube.com/watch?v=3nWK_WC0FfA
Putin bans Soros, issues standing arrest warrant “Dead or alive”
https://www.youtube.com/watch?v=uhgKjecFKvc
Ok. States are not allowed to do some of the things the feds were put in charge of. Not sure why you mentioned it though.
Well we have credit vs non credit money now. But not sure how fixing the amount of rral wont have some effect on its how rare it is
The Constitution is telling you what lawful money is.
Nice thing about gold and silver is the ability to melt it down and cast bullets if you run out of lead. The bonus is silver works on werewolves. The moral of the story is don t run out of lead.
Fail
Great idea? Terrible idea? Who knows... Either way, there’s zero chance this passes. Too many powerful folks benefit from the current system.
L8r
‘And now back to the Glenn Beck show...’
This will never happen. Especially going into a high interest rate period.
It’s a nice thought.
I don’t think there is a State with enough gold to mint their own coin.
The economy would literally bind up overnight if we switched to a gold backed currency. Lots of t bills would be sold to exchange with a hard currency. Lending would pretty much stop.
In the end, the amount of money in circulation would drop like a rock because the line at the gold window would be miles long. The bonfire of dollars needing to be destroyed would light up the skies.
Hmmm, why do I have a feeling that we don't have warehouses of gold left to meet the demand after all the pilfering by the political crime syndicates.
Wouldn't surprise me that a fair sized pawn shop had more gold than our treasury. The gold we do have in storage is more likely to be bullion stored for smaller nation's governments.
Yep - the Fed “prints” more an more money (Probably less than 3/4 of a trillion actually printed and less than half that actually within our borders) and “sells” the non-existent “ether money” around the world - scamming all the way around to keep the powerful powerful and the rest stagnant.
How do you tie the value of the dollar to a basket of commodities whose prices change literally every minute?
Separate domestic and foreign dollars while domestic are gold backed.
No, its telling me that States cant make laws that treat something other than gold or silver as currency. For example the state of New York cant issue their oen State currency, nor make a State law that treats some pre existing resource as currencey. It is not telling me what the Federal government is empowered to do in regard to currency in that passage.
Perhaps the people who wish to eliminate us peons now have a higher percentage of the worlds gold than than they do dollars and this is really just a way for us to enrich them even more than they currently are. Think of it in these terms. Many of us have prepared ourselves for the decline of the dollar’s value as things are now. Not as many of us have prepared for a switch to gold being the basis of our currency. Switching to a gold-based currency further enriches those who own gold and makes those who don’t even poorer and less able to resist the state.
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