To define the dollar as a fixed weight of gold, and for other purposes.
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Oct 7, 2022)
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.
What just happenedOct 7, 2022
Referred to the House Committee on Financial Services.
Who’s behind it
- Introduced in HouseOct 7, 2022
- Oct 7, 2022IntroReferralH11100
Referred to the House Committee on Financial Services.
Financial Services Committee - Oct 7, 2022IntroReferralIntro-H
Introduced in House
- Oct 7, 2022IntroReferral1000
Introduced in House