At the Republican National Convention, the platform committee has called on Congress to establish a "gold commission" to examine restoring the country to the gold standard.
Should the plank become law, the Federal Reserve would only be able to issue as many dollars as it had gold reserves to back them, effectively taking monetary policy out of the Fed’s hands.
On CNBC’s Kudlow Report, Sen. Rand Paul, (R) Kentucky embraced the development as a sign that his father’s ideology had finally won widespread support.” -- CNBC
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