[Congressional Record Volume 168, Number 187 (Friday, December 2, 2022)]
[House]
[Page H8723]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




               AMERICA SHOULD RETURN TO THE GOLD STANDARD

  (Mr. MOONEY asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. MOONEY. Mr. Speaker, the United States is facing an inflation and 
debt crisis not seen in over 40 years. West Virginians have seen the 
value of their savings erode before their very eyes because of reckless 
tax-and-spend policies.
  We know who is responsible for the current inflation crisis, but what 
in our country's history has allowed us to get to this point? The 
answer can actually be traced back to 1971, when President Nixon took 
the United States off the gold standard.
  The gold standard means tying the dollar directly to the value of 
gold. Under the gold standard, any American would be able to trade 
their dollars for a fixed amount of gold. By linking the dollar to the 
value of gold, the money supply could only be increased if the supply 
of gold increases. This connects and protects the purchasing power of 
your dollars.
  That is why I introduced legislation to return the United States to 
the gold standard. Had we been on the gold standard or some other fixed 
standard, we would not be in the inflation crisis we are in today. I 
look forward to working with the Republican majority to make sure this 
issue gets attention.

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