Remember, no politics https://www.marketplace.org/2020/07...-in-senate-despite-support-for-gold-standard/ I removed the trump tweet as it had nothing to do with the post. Political advertisement.
No chance at all. Setting yourself up to be ripped off with arbitrage takers at times. One thing most people do not remember. For most of our history, our silver and gold coins did NOT contain that much PM in them. There was almost always less PM than face value, since you need to or the coins will not circulate. Not having enough currency for circulation does a LOT more damage than tying your currency to "hard backing". We experienced this. The US economy was pummeled at times by no circulating coinage/currency due to PM prices peaking.
Shoot, the tweet was cryptic but wasn't political. How is "Gold is the standard, but silver linings are pretty great too" not related?
There is no way that we are going back to the gold standard unless the artificial price of gold was set at some 7 or 8 figure amount per ounce. There is not enough gold in the world to back the amount of money that we have in circulation now. The latest moves by the Fed to pay for the Corona Virus stimulus added over a trillion dollars to debt and the money supply.
Countries simply have to have control over their monetary policies, as the EU debt debacle has shown us the last 10 years or so.