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Good Money: Why Rep. Kevin Brady's Sound Dollar Act Worries Barney Frank

Blair31 Wrote: Apr 11, 2012 7:27 PM
Returning to the gold standard sounds good in theory but we don't have enough gold in Fort Knox to cover the dollar.

Why is Rep. Barney Frank rounding up his liberal legislative militia to oppose the Sound Dollar Act of 2012? This is a bill recently introduced by Rep. Kevin Brady, top Republican on the Congressional Joint Economic Committee. It is co-sponsored by 31 of his House colleagues and has a Senate counterpart from Utah’s Mike Lee.

A panicked Rep. Frank snapped to immediately. He rounded up 26 liberal democrats to sign a letter of opposition. “We believe strongly that the dual mandate should be maintained, and we believe that the Federal Reserve’s actions in pursuit of that mandate have...