Current holdings are 8124 tonne (approx.) Current value @ $5000 an ounce is only $1.3 trillion dollars (approx.)
If the Fed tried to use gold to back the dollar (using the above theory) they will find Fort Knox emptied quite quickly as people with dollars ask for it to be converted to gold.
All the above might be interesting speculation but it is beyond reality. The numbers don't add up. They has created too many dollars to ever go back on to a gold standard.
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