Gold Money Act
"The United States Mint founded on April 2nd, 1792, some 231 years ago, is almost as old as our nation. As a bureau of the Treasury, it is responsible for producing coinage for the country to conduct commerce and also responsible for controlling the movement of bullion. It does not produce any paper money. That job is fulfilled by the Bureau of Engraving and Printing. Currently there are four active coin-producing mints: West Point, Philadelphia, Denver, and San Francisco. Legal tender coins of today are minted solely for the Treasury's account."--Largely sourced from Wikipedia
The primer above was to provide the reader with a synopsis of the U.S. Mint. This author hopes to persuade readers of this blog to ask of their elected representatives for the immediate introduction, debate, and passage of a "Gold Money Act" whereby: U.S. Gold Eagles be available for purchase or sale at any FDIC-insured retail banking institution in the United States at current spot gold price.
This legislation would allow Americans to buy and sell U.S. Gold Eagles at current spot gold price at any FDIC-insured bank in the United States. For far too long, many Americans have not had the opportunity to purchase or sell United States Gold Eagles. The nation's gold coinage should be widely available to all.
Gold Eagles, which are issued by the U.S. Mint and assigned nominal values by the U.S. Treasury, are legal United States currency. Yet, currently the only way for most American to acquire or sell the Gold Eagles is via an antiquated network of coin dealers, auction platforms, or pawn shops. It is particularly burdensome for Americans buying and selling small amounts of gold via these methods; they are typically charged usurious commission rates. The Gold Money Act would help democratize the ownership of assets that are already minted and distributed in our country and also provide a fair means of liquidity for all.
I encourage all readers of this blog to share this post with their colleagues, friends, and family in the hopes of getting a nonpartisan piece of legislation introduced and passed which will largely benefit all Americans. Access to gold is a hallmark of a free society. It will also help put to rest a shameful piece of history in which Executive Order 6102 made owning gold in this country illegal.
From almost time immemorial gold has proven to be an excellent store of value, especially so in times of rampant inflation. There is no good reason why Americans can not buy and sell their own currency with ease at any FDIC-insured bank. Let them hear you in the halls of Congress!
