And it seems that today's economy is not really ready for the gold standard, for any number of reasons.
The gold standard could be here tomorrow morning.
The fact that we don't have it is a political decision.
Abandoning the gold standard - the convertibility of the $ - in 1970 by the Nixon administration was a political decision.
Abandoning the gold standard allowed the USA to create as much currency as they pleased
Goverments and politicians don't want the limitations to create&spend represented by the Gold standard
Central Banks don't want competition to the currency they control
This has nothing to do with the economy
The economy needs hard currency
Businesses want hard currency
Once you have a trustable and working gold-backed digital currency, ask businesses if they prefer to be paid with gold or with fiat
I have already written, if we are talking about a real gold standard - this scheme will not work, for a banal reason - there are no mechanisms to verify the real gold reserves of the holding countries. And the times of "we are gentlemen - we take our word for it" have unfortunately passed....
The second reason is a strong enough stratification of the world. Someone simply does not want, someone denies gold and "world agreements", someone is not profitable !
Well and most importantly - if we choose the concept not "to create a convenient for all", and "why the U.S. is living so well, we need to fix it" - we will not achieve the result
The USA at a certain point was nimbler, smarter, because no one else could "promote" their position, and the majority agreed with this system.
Another question - how much will the gold standard really make the world a better place, give everyone equal rights, remove "monopolies" - are we talking about this or only about transferring the "palm of superiority" to someone who is not called the USA ?
There are no perfect systems, there are systems with better balance and acceptance of compromise by the majority of participants. The dollar - while such a system, the Gold Standard - must prove its right to exist and acceptance in the COUNTRY, and only then it can replace the dollar.
And about the last sentence: wasn't there some analogy when paper money had the inscription "backed by gold", and when the situation demanded proof - it turned out that it was backed by gold only on paper. Who on the state and world level will guarantee the reality of gold backing of some "gold-bitcoin" for example?
Yes I know there are private solutions you mentioned, but it is a private company controlled by consumers, government, etc. What about real gold backing of pseudo-international currency ? And its control ? In the world today, fundamental treaties and obligations are not being fulfilled, and for the opportunity to manage the world financial system, there will be even more violations....