“There simply isn’t enough gold out there. Russia has one of the largest reserves, but they still only have $130 billion in gold for a $1.4 trillion economy. That’s only 10%”
This makes the massively crazy supposition that the current prices in gold adequately represents would the market WOULD price gold if the central bankers did not launch a frenzy of paper gold selling every time it pokes it head up. Silver and gold are the most manipulated metals ever. The COMEX alone had 100+ “contracts” for every physical ounce of gold they have. Google “Andrew Macguire” for this story in silver (the same, but worse”
There is no such thing as “not enough gold to back the currencies” the only thing “not enough” is the value of gold. All that tells you is that the world’s currencies have been staggeringly inflated.
When I was a kid there was some talk of going on the uranium standard. Of course the uranium couldn’t be physically held like gold or silver due to radioactivity.
But it could be held in reserve and would be seen as a certain unit of energy.
Back then they thought everything would eventually be nuclear powered with the exception of hydroelectric.