To define the dollar as a fixed weight of gold, and for other purposes.

Summary

This bill requires the Department of the Treasury to define the Federal Reserve note dollar in terms of a fixed weight of gold, based on that day's closing market price of gold. Federal Reserve Banks must exchange Federal Reserve notes with gold at this price. If a Federal Reserve Bank does not do this, Treasury must make any exchange and place a corresponding lien on the assets of that bank. In addition, Treasury and the Board of Governors of the Federal Reserve must report on U.S. gold holdings.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 7 October 2022

   Introduced

   Referred to the House Committee on Financial Services.

   Source: IntroReferral

2. 7 October 2022

   Introduced

   Introduced in House

   Source: IntroReferral

3. 7 October 2022

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 7 October 2022 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 7 October 2022

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 7 October 2022

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 7 October 2022

  Open at official source

Sponsors

• Alexander Mooney · R · Sponsor
• Paul Gosar · R · Cosponsor
• Andy Biggs · R · Cosponsor
• · hsba00 · Standing

Related records

• related to → Gold Standard Restoration Act