The disadvantages of the gold standard are that it constrains national monetary policy and that the price of gold fluctuates if it is not kept stable by being the backing for the world’s major currencies with its value controlled by central banks working in concert. The better strategy is to accumulate gold in the national treasury and central bank but not use it formally as backing for your currency. And that is what Switzerland, the US, and other developed nations are mostly doing.
This statement makes no sense. The ADVANTAGE of a gold is that is constrains national monetary policy. Fascist/Marxist politicians want to be able to print money to infinity to fund their social/political engineering schemes. Its exactly what is happening in the USA now. If a currency is tied to gold (which none are now) which has limited in its supply, then gold price will simply reflect an insane political monetary policy.
If the USA had a gold standard, woke-leftist-progressivism and their 1000 social-engineering schemes would simply NOT exist.