as usual, much of what Root writes makes total sense, and much of it nonsense, like going back to the “gold standard” ...
total U.S. gold reserves are approximately 261,484,083 troy ounces ... total U.S. dollars in circulation are 2.37 trillion ... add to that total governmental and private assets, which is worth 425 trillion dollars, for a grand total of roughly 427 trillion dollars ... thus gold would have to be valued at approximately $1,633,000 per ounce to used as a measure of value for all the dollar-denominated U.S. assets ... which means microscopic amounts of gold would have to be used to for daily retail transactions ...
oh definitely, there will be no gold standard because there is no gold.