H.R. 6690 regulate gold at $500/oz

SL

H.R. 6690: Sound Dollar and Economic Stimulus Act of 2008


Rep. Ted Poe. . .

"My bill directs the Federal Reserve to bring the price of gold down to $500/oz and then to keep it there"

"I believe that fixing the value of the dollar now in terms of gold at $500/oz will stop the current inflation without causing deflation."


Ready for The Poe Standard?

roadrunner

This was already discussed on another post yesterday. Kitco anal-ist supreme John Nadler thinks this bill has merit and makes sense. Enough said.

roadrunner

SL

<< <i>This was already discussed on another post yesterday. Kitco anal-ist supreme John Nadler thinks this bill has merit and makes sense. Enough said.

roadrunner >>




Thank you for info on yesterdays post, sorry for creating a double post

storm888

The Fed and their associates really do not need a "law,"
to get the price back into the $500 range.

"Keeping it there," will likely be more difficult, but doable.

COINB0Y

I read the bill this AM.

Just call me crazy, but it seems to me that simply eliminating the middle-man should do the trick.

Just get rid of the FED Reserve Bank and issue notes directly from the US Treasury.

Overdate

While we're at it, let's legislate the price of gas back down to 25 cents a gallon!

ttown

So what will they do? Never buy anymore gold and lock what they have up? This is a global commodity that isn't produced here in quantity just like oil but I'm sure it sounds good on paper! The US no longer controls the world.