The Fed is forced to acknowledge increasing price inflation.
Central banks including the Fed do not possess the gold they claim they do.
A gold-backed currency can't be the world's reserve currency.
"This is the paradox: to maintain the “exorbitant privilege” of a reserve currency, a nation must “export” its currency in size; a nation that runs trade surpluses cannot supply the world with enough of its currency to act as a reserve currency.But gold should be the world's reserve currency.
And any nation running large trade deficits will soon empty its gold reserves as international holders of the currency choose to convert their currency into gold, which is exactly what happened in the late 1960s in the U.S."