Stefan MolyneuxVerified account

Bitcoin

That would work too, even better

There's not enough gold to back all of the fiat currency that's been created. What gold provided was an intrinsic limit to currency manipulation. We can achieve the same thing with crypto.

It could be done. You have x amount of gold, create a new US dollar with a fixed exchange to outgoing old dollar. Job done.

What about institutions 'holding' and trading against those surplus dollars? Forfeit? All if the gold in the world wouldn't cover the existing dollars in circulation, let alone the debt. But, rather than gold, it could be tulip bulbs, it's still the same flawed construct.

Fixed exchange

The only system we can all trust is one without a central authority. Even if every dollar was backed by gold. That gold could still be seized by govt. force, controlling markets and lives.