“the 73-year-old Fort Knox vault. Its glittering gold bricks, totaling 147.3 million ounces (that’s about $168 billion at current prices)”
There is over $1.5T in US cash currency.
For those wanting to return to a gold standard, we’re about 1,473 million ounces short.
“There is over $1.5T in US cash currency.
For those wanting to return to a gold standard, we’re about 1,473 million ounces short.”
That isn’t how the gold standard works. The dollar simply has to be made convertible to gold at a fixed price. When Alexander Hamilton made the Continental Dollar convertible to gold there was very little gold in the US but a lot of dollars.