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Rep. Alex Mooney proposes the United States adopt a new gold standard after U.S. government officials first disclose all gold holdings and secret gold transactions, allowing the gold price to adjust to its fair market value. WASHINGTON, DC / ACCESSWIRE / October 9, 2022 / America's currency would regain stable footing for the first time in half a century if a bill just introduced by U.S. Representative Alex Mooney (R-WV) becomes law. Referred to as the "Gold Standard Restoration Act" by sound money activists, H.R. 9157 calls for the repegging of the Federal Reserve note to gold in order to...

Part One: The Banking Houses of Morgan and Rockefeller [VIDEO] The Four Horsemen of Banking (Bank of America, JP Morgan Chase, Citigroup and Wells Fargo) own the Four Horsemen of Oil (Exxon Mobil, Royal Dutch/Shell, BP and Chevron Texaco); in tandem with Deutsche Bank, BNP, Barclays and other European old money behemoths. But their monopoly over the global economy does not end at the edge of the oil patch. According to company 10K filings to the SEC, the Four Horsemen of Banking are among the top ten stock holders of virtually every Fortune 500 corporation.[1] So who then are the...

Nixon was worried about trade deficits and a deteriorating balance of payments. He rejected the advice of Volcker, then treasury undersecretary, and the Fed chairman at the time, Arthur Burns. Instead, Nixon closed the gold window, meaning foreign governments could no longer exchange dollars for gold. The value of the greenback fell like a stone. So as the value of our currency declined, prices denominated in dollars sky-rocketed. We printed bad money and too much of it, and that’s the definition of inflation. Excess money in relation to demand will do it every time. Lack of value will do it...

China vs the almighty dollarBy Henry C K Liu The Italian Marxist thinker Antonio Gramsci, while under Fascist imprisonment, developed the concept of cultural hegemony: control people's minds, and their hearts and hands will follow. Gramsci explained how one dominant class can establish its control over others through ideological dominance. Whereas orthodox Marxism explains social structure as shaped by economic forces, Gramsci adds the crucial cultural dimension. He showed how, once ideological authority (or "cultural hegemony") is established, the use of overt violence to impose control can become superfluous. Today, the world lives under the virtually undisputed rule of a...

Tomorrow Sunday August 15, 1971 is the 50th anniversary of Richard Nixon closing the Gold Exchange Window that allowed foreign holders of US Dollars to exchange their US Dollars for gold priced at $35/ounce......an agreement that had been in place since the end of WW II.... When this decision was announced it's hard to imagine the impact after 50 years...think of Bill Clinton getting NAFTA passed, repealing the Glass/Stegall Act, think of GWB invading Iraq and Afghanistan, etc....actions by President's have monumental impact over time, when at the time it seemed to be insignificant... Not advocating one position over the...

Fifty years ago this Sunday, President Richard Nixon announced a bold economic plan, including the severing of the U.S. dollar’s ties to gold. Since then, the world’s monetary system has consisted of (mostly) freely floating currencies. The dollar nonetheless remains the primary legal tender used internationally for trade, finance, and as a store of value, which has conferred upon the U.S. enormous advantages. Whether that will continue for the next half-century is far from certain. The Bretton Woods system, in effect back then, reflected America’s economic pre-eminence after World War II. Currency exchange rates were fixed, relative to the dollar,...

The piece on the current crisis that catches our eye runs on the Times op-ed page today under the headline “The Neoliberal Looting of America.” It’s by a law professor on the Coast, Mehrsa Baradaran. It’s about how, as she puts it, “the health of the finance industry and stock market are completely disconnected from the actual financial health of the American people.” By our lights, it’s a fabulous issue. Professor Baradaran lays the problem to what she calls an “ideological coup” that has “quietly transformed our society over the last 50 years, raising the fortunes of the financial economy...

...nearly two centuries of American adherence to the gold standard created both a stable currency and one of the wealthiest nations in history. He further noted shortly after Congressman Mooney first introduced the gold standard bill in 2018 that "[t]he dollar's value has declined to one-thirtieth of what it was in 1970, compared to gold...

President Trump indicated Wednesday the U.S. government would start paying down the $21.6 trillion in debt it's accrued over the last 80 years. "We're going to start paying down debt, we have a lot of debt," Trump said during a Wednesday discussion at the White House on the economy. "We're going to start paying down debt." Trump didn't elaborate, but he made the comment in the context of a discussion about how to improve some of the trade and economic agreements the U.S. has reached over the years. Trump said those past agreements have only helped to let U.S. wealth...

The U.S. Federal Reserve will not only issue its own cryptocurrency but will also make sure Americans use it, according to Doug Casey. “To start with, I suspect it’s going to be a parallel currency. Perhaps usable just within the U.S. which, in effect, would be a form of foreign exchange controls even more effective than the inability of Americans to open up foreign bank and brokerage accounts today [due to monetary control through FATCA]…I think it’s a near certainty that they’re going to do something like this and soon.” They will call it Fedcoin. David Andolfatto, vice president at...

When Donald Trump was campaigning to be President, he said in an interview with Renee Montagne: “Bringing back the gold standard would be very hard to do, but, boy, would it be wonderful. We’d have a standard on which to base our money.” In 1971 President Nixon made a terrible mistake when he made the decision to suspend the convertibility of the dollar into gold. The dollar did become and remains the world’s global currency, but at what price? When the United States started to use “credit,” it went from being a privilege to a liability. The debt grew rapidly,...

The Federal Reserve gives us the freedom to buy things now that we would otherwise have to wait for.In looking at the Federal Reserve, it is important to note that this is a money system, not just a group of people sitting in a conference room controlling everything having to do with the US dollar. The Fed is a system just like the government of the US is a system. What that means is that no one controls it, and that it is much bigger than any one person or group of people could ever control. They can guide it,...

Vice President-elect Michael Pence is currently the most powerful single political influence on President-elect Trump. Among other things, he is in charge of the transition team. He will also be in charge, after the inauguration, with dealing with Congress. For leftists, hostile to gold, that is a problem. However, for those of us who believe that the only way to solve our long-term economic problems is by a return to honest money, it is a godsend. The editor of the New York Sun realized this quite a while ago. He wrote, back in July, about the wise choice of then-Governor...

Today, June 5th, is the anniversary of the birth of John Maynard Keynes, once upon a time the great foe of the gold standard. Today also, coincidentally, happens to be the anniversary of the date celebrated of FDR’s “taking America off the gold standard.” These events are not mere historical curios. The current presidential campaign, and underlying political climate, shows we are finally, maybe definitively, emerging from the academic economists’ anathema on the gold standard... ...Trump, the presumptive GOP presidential nominee, is on record as strongly appreciating the gold standard... ...The “interwar gold standard” in fact was a barbarous relic....

Prior to the election of AmericaÂ’s longest serving socialist president, our money was backed by gold. Anyone holding our paper currency could demand to exchange it for gold at a set price. In 1913, the gold standard was officially made part of the Federal Reserve and the price of gold was fixed at $20.67 per ounce. The same law mandated that the Federal Reserve kept enough gold on hand to equal 40% of the currency issued at the time.On March 4, 1933, Franklin Delano Roosevelt was sworn into office for the first time. The day after his inauguration, Roosevelt closed...

Chief editor of Grant's Interest Rate Observer debunks negative interest rates, banning cash, and helicopter money. ... Epoch Times spoke to Mr. Grant about the spotty track record of central bankers, deflation, gold and the gold standard, as well as negative interest rates and a ban on cash. A negative interest rate is not only a tax on saving, it is the destruction of saving. ... Negative interest rates are an attempt to tax thrift. The idea of earning dollar bills and putting those dollar bills in a bank and having them accumulate over time, the accumulation of which is...

In a shocking move likely to crush the US economy overnight, China is refusing to make its new gold-backed Yuan, convertible from or to US Dollars. The new Yuan will be introduced next Tuesday, April 19. When the International Monetary Fund (IMF) agreed to add the Yuan to the basket of world currencies used for Global Reserves and International Trade, they wanted China to make the Yuan more reliable as a currency. Since then, China has almost un-pegged its Yuan from the Dollar, allowing its value to fluctuate on world markets. But for years, China has been amassing huge amounts...

Presidential elections are about, above all, just two things: our security and our prosperity. Promises of prosperity have all but faded into the background... except by Donald Trump. In the last debate in which he participated Donald Trump hit the voters' target bull's eye in stating "I want to use that same up here, whatever it may be, to make America rich again." None of the other candidates came close to featuring The Message we voters wish to hear. Prosperity. If the other candidates - most notably #2 Ted Cruz - wished to gain the voters' hearts, or at least...

...So what is Mr. Cruz's "one big problem"? It turns out to be that he's for honest money, ideally a dollar defined in terms of gold. That is, he's got the same problem that dogged those notorious losers like, to name but a few, Geo. Washington, John Adams, Thos. Jefferson, Andrew Jackson, Grover Cleveland, Wm. McKinley, Thos. Woodrow Wilson, Franklin Roosevelt, Dwight Eisenhower, John Kennedy, and Ronald Reagan.This is a bizarre argument that puts the Huffington Post - the dispatch is by its senior political economy reporter, Zach Carter - in the company of, say, Richard Nixon. It was Nixon...

THE NEW YORK TIMES recently ran an article trashing the idea of a return to a gold standard. A growing number of Republicans, including presidential hopeful Senator Ted Cruz, advocate fixing the value of the dollar to gold. The purpose of a gold standard is to ensure that a currency has a fixed value, just as measures of time, weight and distance are fixed. A few of the widespread misconceptions about gold: - Gold restrains economic growth. It does the opposite. When the value of a currency is stable, investment flourishes-and so does economic activity. - Gold dangerously constricts the...