It all depends on what they map the dollar value to an ounce of gold. If they undervalue gold, meaning too few dollars per ounce, people would sell their dollars to try to get the gold which is worth more. The gov't, to stop the outflow of gold would either have to reset the valuation to something better or take us off the standard.
If the valuation is too high, too many dollars per ounce, people would flood into the dollar. Demand for dollars increases our purchasing power abroad but foreign importers take a loss.
I think crypto would take a hit because cryptos, like Bitcoin, have a limited supply. With perpetual inflation like we have with the dollar stopped, the value of cryptos would stabilize in the long term. They would certainly still have the extreme day-to-day volatility.
Stocks would stop their rising as well since the Fed can't print more money which ends up going into the stock market.
Gold would go up. Most company stocks would likely decrease. Crypto is a wild card. Some people could see the USA going gold standard as the death of fiat such that crypto becomes more valuable. Some people could see the USA going back to the gold standard as making crypto irrelevant because gold standard is more stable than fiat.
It all depends on what they map the dollar value to an ounce of gold. If they undervalue gold, meaning too few dollars per ounce, people would sell their dollars to try to get the gold which is worth more. The gov't, to stop the outflow of gold would either have to reset the valuation to something better or take us off the standard. If the valuation is too high, too many dollars per ounce, people would flood into the dollar. Demand for dollars increases our purchasing power abroad but foreign importers take a loss.
I think crypto would take a hit because cryptos, like Bitcoin, have a limited supply. With perpetual inflation like we have with the dollar stopped, the value of cryptos would stabilize in the long term. They would certainly still have the extreme day-to-day volatility.
Stocks would stop their rising as well since the Fed can't print more money which ends up going into the stock market.
Complicated question but I like this one.
Gold would go up. Most company stocks would likely decrease. Crypto is a wild card. Some people could see the USA going gold standard as the death of fiat such that crypto becomes more valuable. Some people could see the USA going back to the gold standard as making crypto irrelevant because gold standard is more stable than fiat.
Financial collapse, which is coming either way. Would be great in the long term though.
That's the plan. No income tax, no national debt etc etc. Heaven!