Loading ...Government – New Gold Laws 2020
Don’t know if anybody has posted this but here are 2 laws (or potential future laws) worth keeping an eye on. The article states:
…Being aware of and understanding these potential new gold laws could help you know when it’s the right time for you to buy gold. Here are three pieces of legislation that you should consider following.
H.R. 2558: To Define the Dollar as a Fixed Weight of Gold
H.R. 2558 opens with an astonishing claim:
“The United States dollar has lost 30 percent of its purchasing power since 2000, and 96 percent of its purchasing power since the end of the gold standard in 1913.”
In response to a weakening dollar, bill H.R. 2558 suggests that the Secretary of Treasury define the dollar in terms of a fixed weight of gold, based on the price of gold at the end of the market day. It also proposes making Federal Reserve notes exchangeable with gold.
In doing so, the bill aims to stabilize the dollar, put control of the money supply in the hands of the market (not the government), help the economy grow, and most importantly—restore American middle-class prosperity.
Why watch H.R. 2558? H.R. 2558 is a piece of legislation that could put the United States back on a form of the gold standard.
H.R. 2559: The Gold Reserve Transparency Act
Government transparency is a hot topic. It has been for a long time. The United States is said to have tons of gold locked away in Fort Knox, but very few people have seen the gold or know exactly how much gold is physically there.
Bill H.R. 2559 directs the Government Accountability Office to report gold reserves every five years. The report would require a full audit of all gold reserves and their location, provide an analysis of the reserves’ security, and announce any amount of gold that is minted and sealed in vaults.
This bill also demands a paper trail for all gold swapped, leased, or sold by the U.S. government over the past 15 years.
Why watch H.R. 2559? Allowing the public to see how gold is being used by the U.S. government may help instill trust in the system and bolster the validity of gold ownership nationwide.
https://www.usmoneyreserve.com/blog/new-gold-laws-2020/
Hope Springs
Are you holding your breath waiting ?
not really.
WOW
Suspect these never get out of committee. Who are the sponsors? Dem or Rep?
Let us know please if they are reported out for a vote to entire House.
And are there parallel Senate bills?
LOTS of stuff gets written up. In this realm, recall that even Audit the Fed bills get run over by TPTB.
you are right, lots of bills just sit there. However I believe this is the post-crash of the FED system plan (2021?? Martin Armstrong’s date for the monetary crisis??). These bills will then be passed ‘to save the system’ or ‘create a new/better system’…now sure how it’ll be sold. In fact Trump is pushing the FED SYSTEM into bankruptcy on purpose for three reasons 1)to juice the economy 2)to get him reelected 3)to force the death of the FED [bankrupt it] and roll it into the treasury (which is already underway). The saying is this “gold will end the FED”.
Never happen until AFTER the system crashes
that’s correct and in fact they [the powers that be] are tipping their hand. this is the post crash (crash of the entire system, not a simple stock market crash) plan. this is why physical PM is (I believe) going to continue to detach itself from paper as we get closer to the event. during the event i expect that is when paper gold will break (or reset to PM prices – I don’t know the inner workings of that market).
I will do you one better. I don’t think it is coincidence that the Texas Bullion Depository was just finished a few months ago.
I saw that! However I previously read it was to serve a niche market, not a government depository, was that correct?