The amount of dollars in circulation is less than the amount of US money in circulation (fractional reserve banking), but I agree the number couldn’t be $850 per ounce if it were to happen in one step. If you haven’t read the article and check out that site. I’ve learned a lot about monetary policy in general (not just about the gold standard) and it’s been extremely intriguing.
Thanks, but I avoid monetary policy like I avoid the IRS. As a mathematician, it makes my head hurt.