Rep. Alex Mooney (R-WV) joined Fox Business in support of H.R. 9157, the Gold Standard Restoration Act.
“The Federal Reserve note has lost more than 30 percent of its purchasing power since 2000, and 97 percent of its purchasing power since 1913,” the Congressman from West Virginia told host Kennedy.
Economists have observed that the elimination of gold redeemability from the monetary system freed central bankers and federal government officials from accountability when they irresponsibly expand the money supply, robbing savers of the purchasing power of their money. The "impotent overlords of fiat currency," as Kennedy so eloquently put it, created this inflation by increasing the money supply by over 40% since 2020.
To make matters worse, the Federal Reserve and this administration are not only responsible for devaluing the currency, they're also responsible for creating the impending recession, harming Americans of all stripes coming and going.
“At times, including 2021 and 2022, Federal Reserve actions helped create inflation rates of 8 percent or higher, increasing the cost of living for many Americans to untenable levels…enrich[ing] the owners of financial assets while… endanger[ing] the jobs, wages, and savings of blue-collar workers,” H.R. 9157 states.
Notably, Rep. Mooney’s bill would also require full disclosure of all central bank and U.S. government gold holdings and gold-related financial transactions over the last 6 decades – a seemingly taboo subject surrounded by mystery and deception.
For more information on the Gold Standard Restoration Act, click here.