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Return to Gold Standard: Dollar Pegged to Gold

This bill aims to peg the value of the US dollar to a fixed weight of gold. This means banks would be required to redeem dollars for gold at a set price, intending to stabilize the currency's purchasing power and protect citizens' savings from inflation. These changes could impact goods prices, living costs, and household financial stability.
Key points
The US dollar would be defined by a fixed weight of gold, aiming to prevent currency devaluation.
Federal Reserve banks would be required to redeem dollars for gold, promoting price stability and protecting savings.
The government would disclose all gold holdings and transactions, increasing transparency.
article Official text account_balance Process page
Expired
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Additional Information
Print number: 117_HR_9157
Sponsor: Rep. Mooney, Alexander X. [R-WV-2]
Process start date: 2022-10-07
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

To define the dollar as a fixed weight of gold, and for other purposes.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_9157.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2022-10-07.

What are the main provisions?

Key points include:

  • The US dollar would be defined by a fixed weight of gold, aiming to prevent currency devaluation.
  • Federal Reserve banks would be required to redeem dollars for gold, promoting price stability and protecting savings.
  • The government would disclose all gold holdings and transactions, increasing transparency.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Mooney, Alexander X. [R-WV-2].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Economy