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Thus, there isn't enough gold to replace paper money. This world is ever growing in abundance and I suspect that for a gold standard to make sense you would need to increase the gold quantity by the same percentage as population growth.
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There are other precious metals ( Silver, copper ) that can also be used as money if there isn't enough gold. When all the production precious metals no longer able to match the growth rate of population, we better think of population control or populate another earth like planet to continue our parasitic behavior as the world would most probably run into limitation on other resources like fresh water, energy and etc
With paper system, the public will continue to use the paper until it becomes worthless ( hyperinflation ) due to supply/demand imbalance of money vs commodities and goods . Our beloved banks and special elites would still hold most of the public's real money which are gold, silver and other PMs. They maintain their purchasing power whereas the public lose everything when a new currency is introduced at a certain rate (eg 1 XX = 1000000000000 YY ) after a couple of global resource war or famine .. ..
Worldwide Gold ( the real money ) reserve
Official gold reserves - Wikipedia, the free encyclopedia Hyperinflation - Wikipedia, the free encyclopedia Quote:
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Hyperinflation is generally associated with paper money because the means to increasing the money supply with paper money is the simplest: add more zeroes to the plates and print, or even stamp old notes with new numbers. There have been numerous episodes of hyperinflation, followed by a return to "hard money". Older economies would revert to hard currency and barter when the circulating medium became excessively devalued, generally following a "run" on the store of value.
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