The price of gold with a return to a gold standard will need to be set in New Dollars with every new dollar worth, as an example, 300 old dollars (today’s dollar). Thus $15,000 dollar gold would be valued at $50 in new dollars.
The return to a gold standard will be an acknowledgment of the defacto devaluation of the currency that has been unfolding ever more rapidly, particularly over the last two years.
Facing the music and calculating the gold value that will sustain a convertible currency price is the most responsible, but unfortunately one of the least likely actions that our government could make.
Letting the market lurch and quake it’s way to the true convertible currency value as we are in the midst of risks greater and greater disruptions, possibly leading to the most unwanted outcomes represented by the four horses of the apocalypse.
The American public refuss to accept this likelihood. I HAVE seen this occur, and still keep a 100,000 Ruble (circa 2005) note to show folks. At the time it was worth $20; and they’ve since lobbed off three 0’s.
A pension in 1989 payed you 100 Rubles.