We are in agreement that monetary policy is the result of inflation. Returning to the gold standard would throw the baby out with the bathwater. Economic dislocation is occurring because of unrealistic pricing of the Chinese yuan, which China is orchestrating; we are now seeing markets restore a more correct relationship, relative to the products of our different economies. It ain’t pretty.
Foreign manufactuers will continue to locate plants in the U.S. If for no other reason than shipping costs.
Maybe we should look for something else to back the currency. Gold has problems. The promises of politicians about people as yet unborn also has problems. One interesting suggestion is backing a currency with kilowatt hours of energy. It doesn't suffer from the upper limit problem of gold, but technology could suddenly change things at times. It also doesn't suffer from being backed by the promises of politicians.
Another thread shows that they think the solution is an efficient and temporary government spending program, coupled with printing some more money. Government spending programs are rarely efficient or temporary, which is part of the problem. Printing too much money is another part. The solution: add to the problem. It's insane.