1. Short title This Act may be cited as the Gold Standard Restoration Act . 2. Findings Congress finds the following: (1) The Federal reserve note has lost more than 40 percent of its purchasing power since 2000, and 97 percent of its purchasing power since the passage of the Federal Reserve Act in 1913. (2) Under the 2 percent inflation objective of the Board of Governors of the Federal Reserve System (in this Act hereafter referred to as the Federal Reserve ), the dollar loses half of its purchasing power every generation, or 35 years. (3) At times, including 2021 and 2022, Federal Reserve actions helped create inflation rates of 8 percent or higher, increasing the cost of living for many Americans to untenable levels. (4) American families need long-term price stability to meet their household spending needs, save money, and plan for retirement. (5) The Federal Reserve policy of long-term inflation has made American manufacturing uncompetitive, raising the cost of United States manufactured goods by more than 40 percent since 2000, compared to less than 20 percent in Germany and France. (6) Since 2000, United States manufacturing employment has declined by at least 25 percent after having remained steady at nearly 18,000,000 jobs for more than 30 years. (7) The American economy needs a stable dollar, fixed exchange rates, and money supply controlled by the market not the government. (8) The gold standard puts control of the money supply with the market instead of the Federal Reserve, discourages excessive deficit spending, and encourages the balancing of Federal budgets. (9) The gold standard means legal tender defined by and convertible into a certain quantity of gold. (10) Under the gold standard through 1913 the United States economy grew at an annual average of four percent, one-third larger than the growth rate since then and twice the level since 2000. (11) The Federal Reserve’s trickle down policy of expanding the money supply has primarily enriched the owners of financial assets while it has