is gold standard making a comeback in the usa ?

judy shelton , a trump nominee for the fed reserve bank , is one step closer to joining the usa fed reserve bank – she is a champion of the gold standard.

the gold standard for a country states that that the currency in circulation should be backed by the gold reserves . which means that the government cannot just print money out of thin air ..

president richard nixon removed the us dollar from the gold standard in early 1970’s and there has been so much money printed out of thin air and now the inflation has gone up

for the gold price ( as of July 22 – around 1850 us dollars an ounce ) , to catch up to the gold standard , the current price of gold would be a lot more than that – some say around usd 10,000 per ounce – around 5 times the current price

that means that the silver price should also be up ( depending on the gold to silver ratio of around 75 – 80 ) , silver should be 10,000 / 80 = us dollars 125 per ounce , around 5 times the current price