Support Sound Money Bills H.R. 2284, H.R. 24, and S. 573
Alert Summary
Members of Congress are seeking to pass H.R. 2284, H.R. 24, and S. 573, which would promote sound money and push back against the unconstitutional and unaccountable Federal Reserve.
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Members of Congress are seeking to pass bills that would promote sound money and push back against the unconstitutional and unaccountable Federal Reserve.
One of these bills is H.R. 2284, titled the “Monetary Metals Tax Neutrality Act.” This bill is sponsored by U.S. Representative Alex Mooney (R-W.Va.).
If passed, H.R. 2284 would treat gold and silver as currency – as the Constitution requires – by removing federal income taxes, including capital gains or losses, on those and other precious metals.
Commenting on his bill, Rep. Mooney stated that “my view, which is backed up by language in the U.S. Constitution, is that gold and silver coins are money and are legal tender.” This is clearly supported by Article I, Section 8, Clause 5, along with Article I, Section 10, Clause 1.
Unfortunately, these provisions of the Constitution and the importance of sound money have long been ignored. The worst of these abuses came with the creation of the Federal Reserve in 1913. In addition to blatantly violating the Constitution by its very existence, the Fed has the ability to single-handedly manipulate the economy and devalue the U.S. dollar.
Although the Federal Reserve must be totally abolished, the very least Congress should do is conduct an audit. A partial audit was conducted in 2010, finding that the Fed gave over $16 trillion in secret bank bailouts during the Great Recession.
H.R. 24, and its Senate companion S. 573 – both titled the “Federal Reserve Transparency Act” – would do just that. The bills are respectively sponsored by Representative Thomas Massie (R-Ky.), with 53 co-sponsors; and Senator Rand Paul (R-Ky.), with 7 co-sponsors.
According to a press release by Senator Paul, the bill would “allow the [Government Accountability Office (GAO)] to fully audit:”
- “Transactions for or with a foreign central bank, government of a foreign country, or nonprivate international financing organization;”
- “Deliberations, decisions, or actions on monetary policy matters, including discount window operations, reserves of member banks, securities credit, interest on deposits, and open market operations;”
- “Transactions made under the direction of the Federal Open Market Committee; or a part of a discussion or communication among or between members of the Board and officers and employees of the Federal Reserve System related to clauses (1)–(3) of this subsection.”
These bills will effectively bring to light the Fed’s activities that very few people are aware of due to the unconstitutional entity’s secrecy.
A sound monetary policy is necessary for a nation’s economy to be stable and enable material prosperity. Already, the Federal Reserve and the Deep State have caused far too much damage through their inflation of the U.S. dollar and issuance of fiat currency. It is imperative that Congress follow the Constitution and put an end to this.
Urge your U.S. representative and senators to support H.R. 2284, H.R. 24, and S. 573.
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