WildCatFM Posted April 18, 2018 Report Share Posted April 18, 2018 Not necessary Dinar News but interesting. Introduced in House (03/22/2018) 115th CONGRESS 2d Session H. R. 5404 To define the dollar as a fixed weight of gold. IN THE HOUSE OF REPRESENTATIVES March 22, 2018 Mr. Mooney of West Virginia 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. 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 United States dollar has lost 30 percent of its purchasing power since 2000, and 96 percent of its purchasing power since the end of the gold standard 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) American families need long-term price stability to meet their household spending needs, save money, and plan for retirement. (4) 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. (5) Between 2000 and 2010, United States manufacturing employment shrunk by one-third after holding steady for 30 years at nearly 20,000,000 jobs. (6) The American economy needs a stable dollar, fixed exchange rates, and money supply controlled by the market not the government. (7) The gold standard puts control of the money supply with the market instead of the Federal Reserve. (8) The gold standard means legal tender defined by and convertible into a certain quantity of gold. (9) 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. (10) The international gold exchange standard from 1914 to 1971 did not provide for a United States dollar convertible into gold, and therefore helped cause the Great Depression and stagflation. (11) The Federal Reserve’s trickle down policy of expanding the money supply with no demand for it has enriched the owners of financial assets but 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 DOLLAR IN TERMS OF GOLD. Effective 30 months after the date of enactment of this Act— (1) the Secretary of the Treasury (in this Act referred to as the “Secretary”) shall define the dollar in terms of a fixed weight of gold, based on that day’s closing market price of gold; and (2) Federal Reserve Banks shall make Federal Reserve notes exchangeable with gold at the statutory gold definition of the dollar. SEC. 3. DISCLOSURE OF HOLDING. During the 30-month period following the date of enactment of this Act, the United States Government shall take timely and reasonable steps to disclose all of its holdings of gold, together with a contemporaneous report of any United States governmental purchases or sales, thus enhancing the ability of the market and of market participants to arrive at the fixed dollar-gold parity in an orderly fashion. https://www.congress.gov/bill/115th-congress/house-bill/5404/text 2 2 Quote Link to comment Share on other sites More sharing options...
DinarThug Posted April 18, 2018 Report Share Posted April 18, 2018 5 minutes ago, WildCatFM said: To define the dollar as a fixed weight of gold. IN THE HOUSE OF REPRESENTATIVES Not To Be Outdone - The Iraqi Parliament Is Drafting A Bill To Define The Dinar As A Fixed Weight Of Razor Stubble ! 1 Quote Link to comment Share on other sites More sharing options...
Pitcher Posted April 18, 2018 Report Share Posted April 18, 2018 Nice find, it appears fiat currency is curtains. I’ve been buying gold and silver for years and if we get a Dinar revalue I’ll buy some more. We’ll need to keep an eye on this bill, 30 months from enactment, mmmmmm 2 Quote Link to comment Share on other sites More sharing options...
Pitcher Posted April 18, 2018 Report Share Posted April 18, 2018 “Razor stubble” baaahahahahaha. How do you come up with s*** like that. Lmao Quote Link to comment Share on other sites More sharing options...
yogaman Posted April 18, 2018 Report Share Posted April 18, 2018 30 months?....right at the beginning of Trump's second term. 😃 1 Quote Link to comment Share on other sites More sharing options...
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