Link to the Bill or can read it below the summary:
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link to www.congress.gov (secure)]
Another interesting timing is that terms of gold is established 30 months after the date of the enactment of the Act. I suppose that is at least in part what the other uses are about. Hopefully they are for use of good like televising justice served. Sorry, the current situation is too hard to consider that justice couldn’t be served, but a person can dream…. Moving on:
Background infomation and summary: (from JBS dot org site)
H.R. 9157, titled the Gold Standard Restoration Act, is sponsored by U.S. Representative Alex Mooney (R-W.Va.). If enacted, it would be a significant step to restoring sanity to U.S. monetary policy.
In its list of legislative findings, the bill correctly notes that “The Federal Reserve note has lost more than 30 percent of its purchasing power since 2000, and 97 percent of its purchasing power since the passage of the Federal Reserve Act in 1913,” and it notes that under official Fed policy, “the dollar loses half of its purchasing power every … 35 years.”
Emphasizing the need for “a stable dollar, fixed exchange rates, and money supply controlled by the market not the government,” H.R. 9157 states that returning to the gold standard is necessary for monetary and fiscal sanity, along with limited government. It states, “The gold standard puts control of the money supply with the market instead of the Federal Reserve, discourages excessive deficit spending, and encourages the balancing of Federal budgets.”
Substantively, H.R. 9157 — as the bill title suggests — restores the gold standard for the U.S. dollar. Specifically, it requires the Secretary of the Treasury to “define the Federal Reserve note dollar in terms of a fixed weight of gold, based on that day’s closing market price of gold,” and to make them “redeemable for and exchangeable with gold.”
Additionally, the bill requires the Federal Reserve to fully disclose all its gold holdings, along with all gold transactions since 1961. This would go a long way toward bringing to light the Fed’s activities that very few people are aware of due to the unconstitutional entity’s secrecy and lack of congressional oversight.
Ultimately, the Federal Reserve is a significant danger to liberty, one that is simultaneously degrading people’s livelihoods and our nation’s prosperity. Not only is the central bank unconstitutional, but it has a key role in the conspiracy to bring about a one-world socialist government.
Ultimately, Congress must completely abolish the Federal Reserve. However, H.R. 9157 would be a great first step toward restoring adherence to the Constitution and sound monetary policy. Urge your U.S. representative and senators to support this bill.
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Here’s the Bill:
Shown Here:
Introduced in House (10/07/2022)
117th CONGRESS
2d Session
H. R. 9157
To define the dollar as a fixed weight of gold, and for other purposes.
IN THE HOUSE OF REPRESENTATIVES
October 7, 2022
Mr. Mooney introduced the following bill; which was referred to the Committee on Financial Services
A BILL
To define the dollar as a fixed weight of gold, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. FINDINGS.
Congress finds the following:
(1) The Federal Reserve note has lost more than 30 percent of its purchasing power since 2000, and 97 percent of its purchasing power since the passage of the Federal Reserve Act in 1913.
(2) Under the Federal Reserve’s 2 percent inflation objective, the dollar loses half of its purchasing power every generation, or 35 years.
(3) At times, including 2021 and 2022, Federal Reserve actions helped create inflation rates of 8 percent or higher, increasing the cost of living for many Americans to untenable levels.
(4) American families need long-term price stability to meet their household spending needs, save money, and plan for retirement.
(5) The Federal Reserve policy of long-term inflation has made American manufacturing uncompetitive, raising the cost of United States manufactured goods by more than 40 percent since 2000, compared to less than 20 percent in Germany and France.
(6) Since 2000, United States manufacturing employment has declined by at least 25 percent after having remained steady at nearly 18,000,000 jobs for more than 30 years.
(7) The American economy needs a stable dollar, fixed exchange rates, and money supply controlled by the market not the government.
(8) The gold standard puts control of the money supply with the market instead of the Federal Reserve, discourages excessive deficit spending, and encourages the balancing of Federal budgets.
(9) The gold standard means legal tender defined by and convertible into a certain quantity of gold.
(10) Under the gold standard through 1913 the United States economy grew at an annual average of four percent, one-third larger than the growth rate since then and twice the level since 2000.
(11) The Federal Reserve’s trickle down policy of expanding the money supply has primarily enriched the owners of financial assets while it has endangered the jobs, wages, and savings of blue-collar workers.
(12) Restoring American middle-class prosperity requires change in monetary policy authorized to Congress in Article I, Section 8, Clause 5 of the Constitution.
SEC. 2. DEFINE THE FEDERAL RESERVE NOTE DOLLAR IN TERMS OF GOLD.
Not later than the date that is 30 months after the date of the enactment of this Act—
(1) the Secretary of the Treasury (in this Act hereafter referred to as the “Secretary”) shall define the Federal Reserve note dollar in terms of a fixed weight of gold, based on that day’s closing market price of gold;
(2) Federal Reserve banks shall make Federal Reserve notes redeemable for and exchangeable with gold at the fixed price determined under paragraph (1) and create processes that facilitate such redemptions and exchanges between member banks and the public; and
(3) if a Federal Reserve bank does not fulfill its duties under paragraph (2), the Secretary shall make the redemption or exchange as guarantor and place a corresponding first and paramount lien on all assets of such bank.
SEC. 3. DISCLOSURE OF HOLDINGS.
To enable the market and market participants to arrive at the fixed Federal Reserve note dollar-gold parity in an orderly fashion, during the 30-month period following the date of enactment of this Act—
(1) the Secretary and the Board of Governors of the Federal Reserve shall each make publicly available, in both electronic and published format, all holdings of gold, with a report of any purchases, sales, swaps, leases, and any other financial transactions involving gold, since the temporary suspension in August 15, 1971, of gold redeemability obligations under the Bretton Woods Agreement of 1944; and
(2) the Secretary and the Board of Governors of the Federal Reserve shall make publicly available, in both electronic and published formats, all records pertaining to redemptions and transfers of United States gold in the 10 years preceding the temporary suspension in August 15, 1971, of gold redeemability obligations under the Bretton Woods Agreement of 1944.
Last Edited by I Object on 12/06/2022 04:43 AM.........................................
Constitutional Conservative
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