“We would need to set the price at 64,000 an ounce to cover all the dollars we have floating out there..”
That’s not how it works. If we established a gold standard right now it would be at or very near the present price of gold.
Lol. Uh that is how it works. If you have a gold standard you need enough gold to redeem the dollars. There’s so many dollars out there, 1ounce at Fort Knox needs to redeem 64000 of them.