You are viewing a single comment's thread from:
RE: US to introduce new dollar gold standard? Bill HR5404
I see a whole Laundry List of problems with this Bill, as I am sure you do too. Besides being an unconstitutional approach to Dollar Value, it proposes using a daily fix (very shoddy) as opposed to using a "mandatory peg". But you may as well write the original proposal with a large number of Throw-Away "bargaining chips" because if it ever passes, it will be a totally different animal.
I presume, @unclehermit, you have seen the Jim Rickards info on the "TRUMP EXECUTIVE ORDER" path to a Gold Standard... Even the nuts and bolts of that are totally different. This HR 5404 IS a Trump Bargaining Chip
and will be totally changed or even scrapped. Sacrificial Lamb, in other words.
Interesting. I've not specifically seen the Trump Exec order info from Rickards, but he seems to be very confident that a gold price of around $10K will solve the US debt problems. It might be that HR5404 is just stage 1 of a more robust gold standard.