In Britain's glory days, when she was on the gold standard, she was able to issue 100-year gold bonds (consols) at the unheard of low rate of 1%. The idea of someone issuing 10 year paper backed bonds yielding 2% was considered absurd. Imagine if someone like China(the ones who inflicted paper money on the world in the first place) now decided to issue gold-backed bonds at say 1/2%- the great sucking sound that H. Ross Perot described as jobs going there would suddenly apply to money. And you think Indian wives is a "straw man"?
I agree that there is nothing like a coin, but at current gold prices impractical for day to day transactions of less than say $50- the smallest Americanbase metal coins in use are about 10 grams, and a gold coin that weight would be the size of a BB. There are no technical logistical objections to the strip- the Chinese are already applying holograms to full size bullion bars- doing likewise to the security strip is a piece of cake.
There would prabably be a more impressive show if some of the directors actually shelled out a few dollars of their own money instead of ours buying shares.
Do you really think anyone is going to tell 1/2 billion Indian brides they have to turn in their jewelry? I think not, and furthermore, the Chinese state has been actively enabling gold ownership in that country for at least a decade.
The funny thing is that a return to a gold standard would be extremely simple- make the so called "security strip" in money out of gold, or an alloy. And put all of the nation's gold in the hands of the people thusly; no need for any Fort Knox or central repository. But I think this would involve seizing the Fed's gold, because they, and not "the people" are the actual owners- that was the price for enabling 18 trillion in national debt since, like tapeworms, they infected the body politic in 1913
If you were the manager of a jewelry store and had just told the owner the place was cleaned out because the guard didn't show up you would know how we owners- not haters- feel.
Yeah- they didn't exactly walk off with a ton of concentrate in a briefcase