by Peter Rykowski, The New American:
Legislation has been introduced in Congress to restore the gold standard — a major step toward adhering to the U.S. Constitution and bringing back sound-money policies.
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.”