Sound Money Act of 1979 - Directs the Secretary of the Treasury to redeem in gold bullion or coin of nine-tenths five gold all Federal Reserve and United States notes presented for redemption on or after October 5, 1981. Establishes the rate of redemption at the ratio prevailing between dollars and nine-tenths five gold on the New York spot gold market at the close of business on October 2, 1981.
Introduced in House
Introduced in House
Referred to House Committee on Banking, Finance and Urban Affairs.
Llama 3.2 · runs locally in your browser
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line