U.S. Rep. Madison Cawthorn (R-NC) is getting mocked yet again, this time for suggesting the United States and the rest of the world should tie all our currencies to highly volatile, all-but-totally-unregulated, and environmentally damaging cryptocurrency.
He’s also apparently unfamiliar with the fact that the United States stopped using the gold standard, first in 1933 under FDR, and ultimately cut all ties to it under President Richard Nixon in 1971.
Doing so would also harm America greatly in other ways. The U.S. dollar is “the world’s reserve currency.”
It’s not going well for Cawthorn.