# Fieler Urges Congress to Study Restoring Dollar-to-Gold Redemptions

By Riza Dagoc

Canonical URL: https://www.tokenpost.com/news/regulation/26247
Published: 2026-10-01T23:56:30.000Z
Updated: 2026-10-01T23:56:30.000Z
Section: Regulation

> The Equinox Partners chief investment officer proposes hearings and reports, while leaving the conversion price, gold backing and eligibility rules undecided.

Sean Fieler, chief investment officer of Equinox Partners, urged Congress to study whether Americans should be able to exchange dollars for gold, a proposal he says could constrain monetary expansion and fiscal policy.

Fieler suggests lawmakers begin with hearings and reports on how a redemption system might work. His proposal does not set a conversion price, specify how much gold would back redemptions or define who could exchange dollars. It also leaves implementation details open, including possible transition rules and the roles of the Treasury and Federal Reserve.

The proposal draws on U.S. monetary arrangements that changed over time. In an earlier system, the Federal Reserve had to hold gold equal to 40% of the value of the currency it issued, and dollars were convertible at $20.67 per ounce of pure gold. Those terms do not establish an unconditional, continuous redemption right for all Americans.

The Treasury and financial institutions stopped redeeming dollars for gold in 1933. The Gold Reserve Act, signed Jan. 30, 1934, prohibited redemption and set the dollar’s gold value at $35 per ounce.

Under the postwar Bretton Woods system, foreign monetary authorities could exchange dollars for gold at the official price of $35 per ounce. President Richard Nixon closed the gold window on Aug. 15, 1971, ending that convertibility arrangement.

Fieler argues that a redemption right could limit monetary expansion and fiscal policy. He also recognizes that redemptions could shrink the money supply and restrict the Federal Reserve’s ability to respond to financial crises.

His constitutional argument rests on Congress’ power to coin money and regulate its value. The constitutional provision does not itself resolve whether that authority permits the specific redemption system he proposes.