H.R.5404, a bill to define the dollar as a fixed weight of gold
Gesara.news » News » H.R.5404, a bill to define the dollar as a fixed weight of goldNews Date: May 5, 2020
H.R. 5404 is a bill introduced by Rep. Alex Mooney (R-WV2) that would bring the U.S. back to the gold standard once and for all. It would take effect exactly 30 months after the bill was passed, to allow an adjustment period in the American economy.
Interestingly for a Republican-introduced bill, if the bill was enacted any time after July 2018, that 30-month window would come under the administration of the 2020 election.
The tech sector has already witnessed some sharp losses, but right before the market closed on Friday, the meltdown was becoming more widespread.
For a long time now, analysts, experts, economists, and investors have been sounding the alarm about an explosive and sudden stock market crash that would wipe out billions in earnings overnight.
And even though the collapse of the bubble has already started, we're still hearing silence.
It is proposed to 'place a specialized international precious metals exchange headquartered in Moscow' using the 'new international standard MWS' as the 'basis of the structure.'
It is also proposed to establish a Price Fixing Committee.
Subject to the application of the MWS standard, it will include the central banks and the largest banks of the Eurasian Economic Union countries represented in the precious metals market.
According to the Russian department, it is necessary to 'bet on fixing prices in the national currencies of the key member countries, or on new units of international settlements, such as the new unit of settlements proposed by the president of Russia within the member countries of the BRICS organization.'
Retailers large and small have urged shoppers to use cards or exact change whenever possible.
As the shortage persists, it's become clear that there are still some conundrums that only coins can solve.
Bitcoin, Litecoin, Bitcoin Cash and Ethereum showed a bigger reaction in terms of price-performance to regulatory news.
Such injections into the economy have generally lifted investor demand for safe-haven assets like the precious metal as fears of inflation and currency debasement grow.