Going straight to gold standard will be very disruptive. I propose a “half-step”.
GEOs - Gold Equivalent Ounce
The concept is to provide a valuation of the assets that the US government owns. This is done by estimating the current market value of real property if sold on market, convert that dollar amount to gold oz. Sum total off all gold oz forms the “backing” of the dollar.
Each decade, Congress sets the ratio of dollars in circulation based on a defined exchange rate.
Agree. While they should have probably never gone off a backed currency, jumping all the way back to one in one step would be WAY too traumatic.
Your idea is definitely interesting.