Moment Of Clarity: Bill Introduced In Congress To Define The Dollar As A FIXED WEIGHT OF GOLD

It’s just a bill in the House Financial Services Committee, and it ignores that the Constitution requires silver as well, but hey, it’s a start. Here’s the details…

Check out our pages on the gold standard and sound money for more information about what is required by the United States Constitution.

The bottom line is that Article 1 Section 8 gives the power to Congress:

“To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures”

And Article 1 Section 10 establishes a bi-metallic gold and silver standard:

No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility.

That said, David Moadel has some analysis on a recently introduced bill to the House Financial Services Committee.

We’ll have to follow the tracker to see if this bill even makes it to the floor of the House for a vote, or if it gets axed in committee.

it’s more likely to get axed in committee because the swamp is deep and rancid, and our politicians in Washington stopped following the Constitution’s requirements for sound money decades ago: