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All of the gold ever mined is valued at $3 Trillon as of April 2006.

There isn't enough gold and silver in the world to go back to the gold standard. That was true in the 1920's when we were taken off the gold standard.

You wrote: "All of the gold ever mined is valued at $3 Trillon as of April 2006. There isn't enough gold and silver in the world to go back to the gold standard. That was true in the 1920's when we were taken off the gold standard." I don't see the connection. We could establish the standard as whatever we want. We clearly can't do $20 an oz. Any I assume your $3 Trillion is based on the $600 average price lately. To set the new price for gold we could take what ever amount of new money we felt we needed (and it would be a good time to retire a lot of debt by not making it convertable).

According to this chart M1 is about $1 Trillion. M0, which is what we really need is even less. Call it $500 Billion. (total SWAG). There are 147 million ozs of gold in Ft. Knox (according to the first site on the google seach - again this is back of the envelope stuff) 500,000,000,000 dollars divied by 147,000,000 = a gold price of $3,400 an oz. So one dollar in the NewGold exchange rate would equal 1/3000 th of an oz. That's too little to coin, but so what.