FDR, I believe (I usually know but I’ve got the flu today so I’ll qualify myself!), was the prez who confiscated gold and silver coins making them illegal to use. Why? People would have demanded them in exchange for debts instead of the watered down greenbacks he was planning to print to “expand the economy”.
Funny how history repeats itself, just the other weak the feds seized lots of gold and silver “Liberty Dollars” . Here’s the warrant for the seizure.
These actions don’t make a move in that direction seem likely any time soon. They already considered private currencies to be a threat.
But back to the question “Would switching to the Gold Standard save the dollar?” Short answer - “Yes it would.” Why? The dollar would have a fixed value that couldn’t be tampered with.
But only after contracting the economy when people hope it will grow enough to keep us all eating and they’re trying to do that by playing with the money supply. If dollars had fixed values redeemable in gold and silver, that would make such tampering theft instead of going by the benign name “monetary policy”.
Read more at Would A Good Standard Save The Dollar?
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