I’m no expert but I afraid it is way too late for this move. The Fed continuously depreciates the dollar by simply printing more dollars that the U.S. gobbles up. Making the dollar equal in value to a fixed amount of gold would end that practice. Not going to happen.
Or something like that.
For all the Mexican and South American drug dealers with WAREHOUSES full of cash—- imagine how many tons of treasury gold they could walk away with!!
Your first clue that the Fed isn’t the problem is the fact that the Fed operated for years under the gold standard and there was no inflation.
The culprit behind the depreciation of the dollar is good old Congress continually raising the debt limit, which became very easy to do once Nixon abandoned Bretton Woods and the dollar’s last link to gold. The debt is composed of T-Bills, which are the largest portion of the money supply.
Another driving force in the decline of the dollar that would have to be addressed is its use as the world’s reserve currency. This led to a problem known as the Triffin Dilemma, which is why we ended up abandoning the gold standard under Nixon. We would need to cease using the dollar as the reserve currency.
Yep - the Fed “prints” more an more money (Probably less than 3/4 of a trillion actually printed and less than half that actually within our borders) and “sells” the non-existent “ether money” around the world - scamming all the way around to keep the powerful powerful and the rest stagnant.