Congressmen Introduce Bill To SAVE U.S. Dollar

At least some people in government understand the incredibly dangerous situation we are in right now. …

The last several weeks have seen the biggest blows to the dominance of the U.S. dollar in over 70 years, as the BRICS countries announced that they will be settling oil transactions in Chinese Yuan, at the same time Saudi Arabia snubbed the U.S. in a historic first.

Several high-profile banking collapses and an ongoing bank run are also placing downward pressure on the value of the United States dollar.

Even President Trump pointed out that the dollar is on the fast track to losing its global reserve currency status, in a recent speech.

Three Congressmen have come forward with a solution, Alex Mooney, Andy Biggs, and Paul Gosar have introduced the Gold Standard Bill, in an effort to have USD backed by its weight in gold. …

This is the system we had before Nixon screwed everything up, but not everyone agrees that we should revert to the gold standard—pointing out that current U.S. debt dwarfs the total amount of gold held by the treasury. …

Here is Trump himself:

Trump:
"Our currency is crashing and will soon no longer be the world standard…If you took the five worst Presidents in the history of the United States and added them up they would not have the amount of destruction Joe Biden has done…
These radical left lunatics want to… pic.twitter.com/X20GSBoF1c

— DailyNoah.com (@DailyNoahNews) April 5, 2023

More here on the latest developments:

JUST IN: 🇺🇸 Three US congressmen introduce 'Gold Standard Bill' to stabilize the US dollar's value.

— Watcher.Guru (@WatcherGuru) April 5, 2023

3 Congressmen Introduce ‘Gold Standard Bill’ to Stabilize U.S. Dollar’s Value

Should the U.S. go back on the gold standard?https://t.co/w3paUUkVsQ

— Young Americans for Liberty (@YALiberty) April 6, 2023

Watcher Guru explains:

If passed, the U.S. Treasury and the Federal Reserve will be given two years to publicly disclose all gold holdings and gold transactions.

After that, the Federal Reserve’s dollar currency note will formally be re-pegged to a fixed weight of gold at its market price at that time.

This means, the Federal Reserve notes will become fully redeemable and exchangeable with gold at the new price. In such a scenario, the U.S. Treasury and its gold reserves will support the Federal Reserve banks as a guarantor.

 

McCarthy yesterday said "wall street should be concerned about debt limit" then Republicans introduced Bill to reinstate gold standard. If tax receipts fall short, debt ceiling could reach limit as early as May. Going to get spicy. https://t.co/TjR1WyzgCf

— michael francis (@Mfrancis43) April 6, 2023

THOUGHTS?! 👇 https://t.co/gLz2z97znP

— WeLoveTrump (@WeLovePresTrump) April 6, 2023

The Mises Institute writes:

Monetary experts have noted a return to a gold standard would substantially curtail the economic damage caused by inflation, runaway federal debt, and monetary system instability.

H.R. 2435 points out: “The Federal Reserve note has lost more than 40 percent of its purchasing power since 2000, and 97 percent of its purchasing power since the passage of the Federal Reserve Act in 1913.”

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