GEOSs - Gold Equivalent Ounces
A logical construct to limit the amount of currency in circulation. In essence, us a logical conversion of US Government assets of convertible assets (sell-able into the market - gold, silver, trees, buildings). Once the total asset base is known, having been converted to GEOs, then a limit can be placed on the number of dollars to GEOs. That limit should be set by Congress and enforced by the Treasury.
That doesn’t seem workable to me. We need enough currency in circulation to cover not just the government’s assets, but the liquid assets of the entire nation.
And that would only work if the US Treasury acted as a central bank, which I am all in favor of. Let the US Treasury get the discount window interest, payment for check settlements, and the other services done by the fed now that just line already fat pockets.
Are you crazy? It is much better to have a group of unknown bankers with loyalties unknown printing up interest bearing dollars that can never be paid because the printed dollar has to be redeemed plus interest. Even better is the scam of electronically created 1's and 0's that can be created,moved or destroyed with a click of a mouse.