You are correct. But you haven’t gone quite far enough.
The only way to monetize a paper currency system dependent on the issuance of credit is to have a stable source of value behind it.
That is why the Federal Income Tax was created. It monetizes the debt, and allows for the issuance of credit which creates new money. Translation: they mortgaged your life so they could write more loans.
Repeal the 16th Amendment, close the Reserve Bank and as you said, go back to a standard...Gold is one option.
If the nation was capable of doing that, it would be capable of exercising sufficient restraint to obviate the necessity of doing that.
In other words, ain't never gonna happen.
It seems that we have two forces operating here. China is acquiring gold and the Western economies are trying to keep the currency fraud going.
If cash is gone in the West, PMs will still be valued in China.
We are going to go after the global elites very personally to get anything done.
I believe there will be a reversion to some sort of gold standard. It will not involve gold and silver being exchanged for clothing or Big Macs but gold will back up the money.
There is an expression of faith here over currency. The fact is all the money is actually blips on an electronic ledger. The $1 bill is at root the physical representation of a government obligation to the bearer. When a bank finally turns it in, the entry is made electronically on the ledger.
We are very near the point where cash is not needed. Everyone can have a paypal or similar sec cure account, even perhaps with the local bank and a card reader on their I phone. To take payment from a friend, the friends card is swiped into the reader and the money is zapped from one personal account ledger to another. The ledgers are maintained at a bank.
I have only one vendor that requires cash on a regular basis, my barber. All other transactions are made by zapping my credit card. The banks are is the places where my electronic ledgers are maintained.
A multi-metallic standard, where the value of the USD derives its value from a basket of *precious metals*, much like how the People’s Yen in Red China derives its value from a basket of fiat paper currencies?
(Tip: The words people in the Far East use to call their currencies are cognates of each other. It’s an artifact of former/ongoing Chinese regional dominance through the ages.)