Oh yes that Gold standard thing that has been around for thousands of years. The same standards the Founding Fathers You are right he must be nuts! (sarcasm off)
Yes and while on the gold standard, we had deflationary depressions every 20 years. And the dollar still lost 51% of it’s value from 1800 to 1900. And there was a bout of hyper inflation in the 1850’s.
And guess what? The gold standard didn’t stop either the Federal government or the state governments from overextending on debt either.
There’s only 5 billion oz of gold in the world. And there is 6 billion people. How small do you like your coins?
Do you know who is the major producer of gold now? That’s right...China. Imagine how much better it would be if China controlled our money growth than if the FED did.