Doesn't have to be Gold. Could by platinum or what ever the Govt. wants.
"Article I, Section 10 of the Constitution explicitly forbids the states from issuing "bills of credit" (promissory notes) or making anything but gold and silver coin legal "tender". There are no corresponding explicit prohibitions limiting the power of the federal government, nor are there any explicit authorizations."
So, Trump could order up a 35 trillion dollar coin and hand it to the Fed. Done, debt erased. Now, who is going to cash it? HAHAHA. Then resolve the Fed. No more income tax to pay the interest on debt.
Doesn't have to be Gold. Could by platinum or what ever the Govt. wants. "Article I, Section 10 of the Constitution explicitly forbids the states from issuing "bills of credit" (promissory notes) or making anything but gold and silver coin legal "tender". There are no corresponding explicit prohibitions limiting the power of the federal government, nor are there any explicit authorizations." So, Trump could order up a 35 trillion dollar coin and hand it to the Fed. Done, debt erased. Now, who is going to cash it? HAHAHA. Then resolve the Fed. No more income tax to pay the interest on debt.
I think usd will become tethered to a portfolio of rare earth metals / gold, silver, platinum, copper, iridium , lithium, etc
"The (insert local money name here) shall be defined as a fixed weight of gold."
Done. As every country should.
California does have a decent amount of rare earth metals. Also the USA does have Titanium and that I suspect President Trump will make a priority.
It gives China and Russia too much leverage to be the leaders of Titanium along with Japan.