Propose legislation to abolish the Federal Reserve System and re-establish a commodity based currency.

This petition requests legislation to abolish the Federal Reserve System and to re-establish a commodity based currency. Under every reasonable measure the Federal Reserve has failed in its original objectives. The US dollar has lost 93% of its value in the 100 years the Federal Reserve has been regulating the economy and stands to lose further value. In the 125 years prior to the Federal Reserve the dollar had actually gained in value. Bank failures and bailouts with fiat currency are occurring with increasingly alarming speed. The corresponding inflation caused by the bailouts has severely damaged the middle class and undermined all efforts to rescue the poor from poverty. The national debt is over 16 trillion dollars and is near certain to increase. The hemorrhage must stop.