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Bill H.R. 9157 introduced to Restore Gold Standard to U.S. Dollar as Inflation Soars to Record Highs

 
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10/13/2022 10:51 AM
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Bill H.R. 9157 introduced to Restore Gold Standard to U.S. Dollar as Inflation Soars to Record Highs
Congressman Alex Mooney (R-WV) has introduced the Gold Standard Restoration Act to restore the purchasing power of the U.S. dollar and protect the currency from rising inflation.

“The gold standard would protect against Washington’s irresponsible spending habits and the creation of money out of thin air,” said Rep. Mooney in a statement.

“Prices would be shaped by economics rather than the instincts of bureaucrats. No longer would our economy be at the mercy of the Federal Reserve and reckless Washington spenders,” he added.

The bill, H.R. 9157, would require the Federal Reserve and U.S. Treasury to disclose their gold holdings and transactions within 30 months. It would then peg the dollar to a fixed rate of gold at its current market price. Dollars would then become redeemable and exchangeable in gold for the first time in many decades.

“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,” the text of H.R. 9157 states.


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Anonymous Coward
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10/13/2022 11:03 AM
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Re: Bill H.R. 9157 introduced to Restore Gold Standard to U.S. Dollar as Inflation Soars to Record Highs
All of our wealth would move to russia and uganda because uganda just found the largest gold mine on earth.more gold than all the gold ever mined.
The russians run the mine.
It would be the greatest fuckining of america.even greater than the rothschilds fucking.
That congressman is a traitor.
Lago

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07/19/2023 10:24 AM
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Re: Bill H.R. 9157 introduced to Restore Gold Standard to U.S. Dollar as Inflation Soars to Record Highs
how much is all the worlds mined gold worth? How many US dollars are in circulation worldwide?

The total value of all the world's mined gold is estimated to be around $11.8 trillion. This is based on the current price of gold, which is around $1,800 per ounce.

According to the World Gold Council, around 208,874 tonnes of gold has been mined throughout history.

According to the Federal Reserve, there are around $19.2 trillion of US dollars in circulation worldwide. This is based on the Fed's international reserve liabilities, which measures the amount of US dollars that are held by foreign central banks and other official institutions.

The Fed's international reserve liabilities have increased significantly in recent years, from around $6.3 trillion in 2008 to around $19.2 trillion in 2023. This increase is due to a number of factors, including the Quantitative Easing (QE) programs that the Fed implemented in response to the global financial crisis and the COVID-19 pandemic.

It is important to note that the value of gold and the number of US dollars that are in circulation are not directly comparable. Gold is a physical asset, while US dollars are fiat currency. Fiat currency is not backed by any physical asset, and its value is determined by supply and demand.

The value of gold has increased significantly in recent years. In 2008, the price of gold was around $800 per ounce. As of March 2023, the price of gold is around $1,800 per ounce. This increase in the price of gold is due to a number of factors, including the global financial crisis, the COVID-19 pandemic, and inflation.

The number of US dollars that are in circulation has also increased significantly in recent years. In 2008, the Fed's international reserve liabilities were around $6.3 trillion. As of March 2023, the Fed's international reserve liabilities are around $19.2 trillion. This increase in the number of US dollars is due to a number of factors, including the Quantitative Easing (QE) programs that the Fed implemented in response to the global financial crisis and the COVID-19 pandemic.

The increase in the value of gold and the number of US dollars that are in circulation have raised concerns about inflation. Inflation is a decrease in the purchasing power of money. When the value of money decreases, it means that people can buy less with their money.
Lago
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07/19/2023 10:45 AM
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Re: Bill H.R. 9157 introduced to Restore Gold Standard to U.S. Dollar as Inflation Soars to Record Highs
This notion that we need to be "protected from the Federal Reserve" is anti-semitic and it needs to STOP!!
Agent 99

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07/27/2023 11:07 AM

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Re: Bill H.R. 9157 introduced to Restore Gold Standard to U.S. Dollar as Inflation Soars to Record Highs
[link to www.congress.gov (secure)]

HR 9157 was only introduced. Never advanced.
Anonymous Coward
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07/27/2023 11:16 AM
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Re: Bill H.R. 9157 introduced to Restore Gold Standard to U.S. Dollar as Inflation Soars to Record Highs
This notion that we need to be "protected from the Federal Reserve" is anti-semitic and it needs to STOP!!
 Quoting: Anonymous Coward 86093015


Sure. As soon as we hang all the bastards
Anonymous Coward
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07/27/2023 12:12 PM
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Re: Bill H.R. 9157 introduced to Restore Gold Standard to U.S. Dollar as Inflation Soars to Record Highs
All of our wealth would move to russia and uganda because uganda just found the largest gold mine on earth.more gold than all the gold ever mined.
The russians run the mine.
It would be the greatest fuckining of america.even greater than the rothschilds fucking.
That congressman is a traitor.
 Quoting: Anonymous Coward 54053947


then silver, but something tangible.
Anonymous Coward
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07/27/2023 12:12 PM
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Re: Bill H.R. 9157 introduced to Restore Gold Standard to U.S. Dollar as Inflation Soars to Record Highs
This notion that we need to be "protected from the Federal Reserve" is anti-semitic and it needs to STOP!!
 Quoting: Anonymous Coward 86093015


stfu
Agent 99

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07/27/2023 10:26 PM

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Re: Bill H.R. 9157 introduced to Restore Gold Standard to U.S. Dollar as Inflation Soars to Record Highs
Wow. gold just shot up 40 bucks after hours.
Anonymous Coward
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07/27/2023 10:28 PM
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Re: Bill H.R. 9157 introduced to Restore Gold Standard to U.S. Dollar as Inflation Soars to Record Highs
This notion that we need to be "protected from the Federal Reserve" is anti-semitic and it needs to STOP!!
 Quoting: Anonymous Coward 86093015


What a gargantuan idea
Anonymous Coward
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07/27/2023 10:52 PM
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Re: Bill H.R. 9157 introduced to Restore Gold Standard to U.S. Dollar as Inflation Soars to Record Highs
To return to a gold standard, the price of gold would have to be north of $50k per ozt. There is just too much debt in the world.
Anonymous Coward
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07/27/2023 10:54 PM
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Re: Bill H.R. 9157 introduced to Restore Gold Standard to U.S. Dollar as Inflation Soars to Record Highs
Also, we are still technically on a gold standard. You can go to any LCS and exchange your dollars for gold. It's just that it takes a hell of a lot more dollars than it did in 1971.
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07/27/2023 10:56 PM
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Re: Bill H.R. 9157 introduced to Restore Gold Standard to U.S. Dollar as Inflation Soars to Record Highs
Awwww sumboddies scared of BRICS August
Anonymous Coward
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07/27/2023 11:27 PM
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Re: Bill H.R. 9157 introduced to Restore Gold Standard to U.S. Dollar as Inflation Soars to Record Highs
The U.S. dollar is not a federal reserve Note.


Obviously this show boating is not going anywhere and designed to keep the j federal reserve bank in charge of charging usury for that which government is supposed to make in coins which it already does.

We don't need a federal reserve we need the federal reserve act repealed.

Either this politician is an incompetent boob or intentionally deceiving people.





GLP