I don’t think you want to be on a gold standard where you have to pay all your bills in gold.
They are not going to make dollars redeemable in gold, everyone would hoard the gold esp. foreigners.
Maybe a two tier monetary system, one currency based on some gold and other things to satisfy international debts and trades. The second currency for the little people to carry on with their daily lives.
Doesn’t much matter until spending is under control, the more debt incurred the lower the US$ will be worth and the higher the spot price of gold will be until the dollar is no longer the world’s reserve currency.
So, the government could issue gold (and maybe silver) certificates? I’ve been working overseas and made a pile of cash which I am afraid will be eaten by inflation if I sit on it. I don’t know where to put it. At this point the idea would be to buy gold to preserve the value of my savings. I’m gritting my teeth and watching gold head upwards. I’ve read that there is a pyramid of investments and that in times of uncertainty that money migrates upward. The capstone is gold. I know there are currencies that are not as volatile as the U.S. dollar. What are some of those? I’ve heard Canadian and Australian dollar are in better shape than U.S.