States Looking for Currency Alternatives

The Federal Reserve has had a monopoly on money for longer than I have been on planet Earth. The FED is supposed to be the buyer of last resort, and lately it seems like it may be the only buyer. Central banks such as the Fed, European Central Bank, Bank of Japan, and the Swiss National Bank have been buying ETFs, bonds, and any paper product you can think of to keep this game going. In previous articles, I discussed how many states were creating legislation to help usurp power from the FED’s control. Texas, Arizona, Wyoming, and West Virginia are just a few states that have put legislation on the table to neutralize our favored debt instrument: the Federal Reserve Note. Saving in this currency makes us all poor and beholden to the dark pools of inflated dollars roaming markets everywhere.

West Virginia Congressman Alex Mooney submitted a bill to the House on March 22nd to restore the dollar to the gold standard. In his bill, he stated that this was the first time since 1984 (when Jack Kemp introduced the Gold Standard Act) that an attempt was made to put the U.S. on a gold standard. According to the bill, the FED would still exist, but would administer the money supply, rather than dictate it.

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