Central Banks and the fiat reserve dollar hegemony won’t cede their power to cryptocurrencies easily, and they're now resorting to a return to precious metals to stave off the threat of individual monetary sovereignty, Bitcoin, and the digital revolution.
Stated simply, gold-standard proponents seek a dollar that is widely trusted as a constant measure of value. Nothing more. Nothing less.
"The power to issue money was essential for the finance of the government … in order to give to government access to the tap where it can draw the money it needs by manufacturing it."
The demand for a medium of exchange is the composite of two partial demands: the intention to use it in consumption and production and the intention to use it as a medium of exchange.
The gold standard, if not abused, is not conducive to boom-bust cycles.
A monetary crisis is coming. Will gold or crypto replace the dollar?
A major catalyst behind the collapse of the Bretton Woods system was the loose monetary policies of the US central bank, which pushed the price of gold in the gold market above the official $35 per ounce.
In March 1968, a crisis of confidence in the dollar on the free gold markets led the United States to effect a fundamental change in the monetary system.
