Declares that it is the sense of the House of Representatives that: (1) current interest rates are needlessly and destructively high; (2) high interest rates are wreaking extensive damage on the economy; (3) the Federal Reserve has been a failure as a tool of monetary policy; (4) interest rates must be brought down; (5) balancing the budget and reducing Federal loans and loan guarantees will only solve part of the problem; and (6) the only long-term solution to economic recovery is a return to the gold standard and the discipline it brings.
Urges the adoption of a gold standard by Congress to restore stability and to strength the economy.
Introduced in House
Introduced in House
Referred to House Committee on Banking, Finance and Urban Affairs.
Referred to Subcommittee on Domestic Monetary Policy.
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