GOP seeks gold standard

SANDPOINT — Bonner County Republicans are climbing aboard a growing wing of the GOP by calling for the abolition of the Federal Reserve.

At its July 22 meeting, the Bonner County Republican Central Committee presented a resolution calling for immediate federal action to abolish the Federal Reserve and transition to a gold and silver-backed dollar.

The move comes on the heals of the party’s state convention in May, where a similar plank was added to the Republican platform.

“Our economy is in shambles, and a great deal of that is related to the fact that we have an easily inflatable fiat paper currency that the government can manipulate at will,” said BCRCC Chairman Cornel Rasor.

In its resolution, the committee argues the U.S. Constitution does not allow Congress to delegate control of monetary policy to a private banking corporation, like the Federal Reserve Bank. It also claims the bank lacks the meaningful checks and balances that a gold and silver-backed dollar would offer.

Rasor said several other counties in Idaho and around the country have adopted similar resolutions, and hopes the movement will pick up enough steam to attract the attention of Washington lawmakers.

“We hope other people will pick up this ball and run with it — other districts, other county central committees and other individuals,” Rasor said.

Rep. Ron Paul, R-Tex., a wildly popular political figure in Idaho and former presidential contender, introduced a resolution in the U.S. House of Representatives to abolish the Federal Reserve system in 2007.

Paul is the most visible member of congress to support the anti-Federal Reserve movement, but Rasor is hopeful that one or more of Idaho’s congressional delegation will take up the movement.