Three Congressmen Introduce Gold Standard Bill to Stabilize the Dollar's Value | Jp Cortez
mises.org
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. Upon passage of H.R. 2435, the U.S.

Federal Reserve notes would become fully redeemable for and exchangeable with gold, with the U.S. Treasury and its gold reserves backstopping Federal Reserve Banks as guarantor. Historians have long been criticizing that the elimination of gold redeemability from the monetary system freed central bankers and federal government officials from accountability when they expand the money supply, fund government deficits though trillion-dollar bond purchases, or otherwise manipulate the economy.