Buffet Knows exactly what is going on in DC, its happening, and sooner than people will feel the impact of the greatest printing of any paper fiat money in all history.
Monetary policy, especially since the 2008 financial crisis, coupled with the recent federal fiscal response to coronavirus has re-inflated nominal asset prices and contributed to the wealth gap, while weakening the Federal Reserve Note in relation to the world’s other fiat currencies.
Reps. Alex Mooney (R-WV), Andy Barr (R-KY), Kevin Brady (R-TX), Ted Budd (R-NC), and Lee Zeldin (R-NY) also joined the caucus.
For several years, Congressman Mooney has been a leader on the sound money issue, hammering away at manipulation in the gold market and counterfeiting -- and Mooney has introduced several pending bills to audit America’s gold reserves, remove income tax on the monetary metals, and resume some form of gold backing to our currency.
Congressman Davidson introduced the Sound Money Caucus on the floor of the House by saying:
“We already have a great core group of members who are leaders in this area, who understand how important it is for the U.S. dollar to be an enduring store of value and an efficient means of exchange. I look forward to hashing out policy solutions to address the economic distortions of monetary inflation, so that monetary and fiscal policy can help rebuild the middle class, restart the American economy, and get us on a path for sustainable growth.”
In an era where even so-called “conservatives” are adding trillions to the federal deficit, sound money is more important than ever. Sound money is the linchpin of a prosperous society because it protects capital and creates stability.
