Well, that certainly is not the thing to do.
As for dollar valuation & hence interest rates, I just think it would be less exposed to volatility if the dollar is tied to gold or a commodity basket. Let the USA lead in that fashion instead of fracturing our financial systems with risky and worthless mortgage derivative schemes.
The price of gold is about as volatile as we can get, the 'commodity basket' that the Fed ties the dollar to is the sum of all personal purchases which the get from the PCE index. Here's how the PCE yr/yr compares to gold yr/yr:
Let the USA lead in that fashion instead of fracturing our financial systems with risky and worthless mortgage derivative schemes.
This leaves me a bit stumped --trying to find an instance where they're doing that now or have ever done that in the past.
In the short term, I agree. Tho as the cause or the result I wonder...
Long term, gold outlasts every fiat economy and maybe will the dollar as well. But in these phony times of computer graphics reality, the bitcoin and derivatives where 0x10 = wealth, who knows?