Bill proposed to define dollar as a unit of gold

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Mike G
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Joined: 02/17/2000 - 1:01am
Bill proposed to define dollar as a unit of gold

https://www.themaven.net/mishtalk/economics/congressman-alex-mooney-s-bi...

"Effective 30 months after the date of enactment of this Act – (1) the secretary of the Treasury 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 the Federal Reserve notes exchangeable with gold at the statutory gold definition for the dollar."

Toolsmith
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Joined: 07/14/2016 - 11:22am
The dollar is going to be 1

The dollar is going to be 1/10,000th of an ounce of gold?

Either set the rate now, or the value of gold will skyrocket up to that fix date.

Tom C
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Last seen: 19 min 35 sec ago
Joined: 01/03/2006 - 6:00pm
Yeah, that's going to pass.

Yeah, that's going to pass.

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