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.
Wouldn’t oil, coal and gas reserves be more than our gold reserves? I’m hard pressed to understand how our half trillion in gold would be a boost given circulation. I’m certainly outside my wheel house and just looking to better understand.