What Will The New Currency Be?

The Michael J. Penney Show is back with another thought-provoking episode, this time delving into the highly debated topic of the Gold Standard. In this episode, Michael takes a deep dive into H.R.2435 - Gold Standard Restoration Act and provides a full read-through of the document.

The show starts with Michael giving a brief introduction to the Gold Standard and its historical significance. He then proceeds to discuss the current economic situation and the need for a more stable monetary system. Michael argues that the current fiat currency system has failed to provide long-term stability, and that the restoration of the Gold Standard could be a solution to this problem.

Michael goes on to read through H.R.2435, providing insightful commentary and analysis throughout the reading. The bill, introduced by Congressman Alex Mooney, aims to restore the Gold Standard and establish a commission to study the potential effects of a return to a gold-backed currency.

Throughout the reading, Michael highlights the key provisions of the bill and discusses their potential impact on the economy. He also addresses some of the criticisms of the Gold Standard, such as the potential for deflation and the limitations it places on government spending.

Overall, the Michael J. Penney Show's discussion of the Gold Standard and H.R.2435 is a must-watch for anyone interested in economics and finance. With insightful analysis, informative commentary, and a panel of experts, this episode provides a comprehensive look at the potential benefits and drawbacks of a gold-backed currency system.

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