Getting rid of pennies/nickels sure, but where does the gold standard come in?
You want to tie the economy to a material that doesn't capture economic growth and which also has its remaining stores in areas of the world not owned by your nation?
If Google wasn't lying to me with its response, the current USA gdp is over $20 trillion, and the US owns around $200 billion in gold.
Wouldn't tying gold to the current economy either devalue the dollar or inflate the current value of gold before locking the country into a state of economic stagnation?
You want to tie the economy to a material that doesn't capture economic growth and which also has its remaining stores in areas of the world not owned by your nation?
If Google wasn't lying to me with its response, the current USA gdp is over $20 trillion, and the US owns around $200 billion in gold.
Wouldn't tying gold to the current economy either devalue the dollar or inflate the current value of gold before locking the country into a state of economic stagnation?