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Since our inception in 2013, Hurley Coins has advocated for a system of honest money in the United States, which can be brought about through the implementation of the gold standard.
There are $1.59 trillion worth of U.S. Federal Reserve notes in circulation. These notes are backed by nothing but the guarantee of the Fed, which is not a government organ but instead an independent agency mostly free of political oversight.
Reining in the excesses of the Federal Reserve and backing the currency with gold wouldn't be a restraint on economic growth, but it would serve the purpose of limiting the issuance of currency to the amount of specie present.
Hard money would reduce fear of inflation, which comes as a result of weak currency, and give the citizenry the satisfaction of knowing that their dollars have real value.
Hurley Coins is proud to endorse the efforts of Alex Mooney, a Republican congressman from West Virginia, who proposed H.R. 5404. The legislation wouldn't eliminate the Federal Reserve, but it would scale back its monetary manipulation and tether its efforts to the gold reserves of the U.S.
The Federal Reserve has the power to wreak havoc of Zimbabwean proportions, and Rep. Mooney's efforts -- if successful -- would hamper potentially disastrous ambitions.