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  There are enormous issues with governments moving to any form of "gold standard" hence the fact that it was moved away from and all money is now fiat currency
  
  Some links for your education and edification
  
  http://en.wikipedia.org/wiki/Gold_standard
  http://www.econlib.org/library/Enc/GoldStandard.html
  http://www.investopedia.com/terms/f/fiatmoney.asp
  http://en.wikipedia.org/wiki/Fiat_money
  http://dailyreckoning.com/fiat-currency/ - a good history of fiat money and its issues
  
  As an aside the amounts you quote Alex are a drop in the ocean in comparison to western nations current borrowings

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