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Six members of Congress form Sound Money Caucus
By JP Cortez
Money Metals News Service, Eagle, Idaho
Friday, August 14, 2020
As the political and central banking establishment in Washington continues to bail out the economy and markets by creating trillions of unbacked pieces of paper and electronic digits, six congressmen hope to shine a spotlight on the devastating effects of this runaway financial profligacy.
Congressman Warren Davidson, R-Ohio, recently announced the creation of the Congressional Sound Money Caucus. According to Davidson’s office, the caucus exists to promote sound fiscal and monetary policy in the United States with the goal of preserving the purchasing power of the U.S. Federal Reserve Note.
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Monetary policy, especially since the 2008 financial crisis, coupled with the recent federal fiscal response to coronavirus, has re-inflated nominal asset prices and contributed to the wealth gap,while weakening the Federal Reserve Note in relation to the world's other fiat currencies.
Reps. Alex Mooney, R-West Virginia, Andy Barr, R-Kentucky, Kevin Brady, R-Texas, Ted Budd, R-North Carolina, and Lee Zeldin, R-New York, also joined the caucus.
For several years Congressman Mooney has been a leader on the sound money issue, hammering away at manipulation in the gold market and counterfeiting. Mooney has introduced several pending bills to audit America's gold reserves, remove income tax on the monetary metals, and resume some form of gold backing to our currency. ...
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