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Gold Standard Restoration Act

USA118th CongressHR-2435| House 
| Updated: 3/30/2023
Alexander X. Mooney

Alexander X. Mooney

Republican Representative

West Virginia

Cosponsors (3)
Paul A. Gosar (Republican)Andy Biggs (Republican)Anna Paulina Luna (Republican)

Financial Services Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Gold Standard Restoration Act 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 and create processes to facilitate exchanges between banks and the public. 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.
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Timeline
Mar 30, 2023
Introduced in House
Mar 30, 2023
Referred to the House Committee on Financial Services.
  • March 30, 2023
    Introduced in House


  • March 30, 2023
    Referred to the House Committee on Financial Services.

Finance and Financial Sector

Gold Standard Restoration Act

USA118th CongressHR-2435| House 
| Updated: 3/30/2023
Gold Standard Restoration Act 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 and create processes to facilitate exchanges between banks and the public. 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.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Mar 30, 2023
Introduced in House
Mar 30, 2023
Referred to the House Committee on Financial Services.
  • March 30, 2023
    Introduced in House


  • March 30, 2023
    Referred to the House Committee on Financial Services.
Alexander X. Mooney

Alexander X. Mooney

Republican Representative

West Virginia

Cosponsors (3)
Paul A. Gosar (Republican)Andy Biggs (Republican)Anna Paulina Luna (Republican)

Financial Services Committee

Finance and Financial Sector

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted