Though it is highly unlikely for the U.S. to return to the gold standard, the idea has drawn some attention and popularity in recent years. Most notably, Judy Shelton, an economic advisor to former President Donald Trump, is known for her support for a return to the gold standard....
The gold standard was completely replaced byfiat money, a term to describe currency that is used because of a government's order, or fiat, that the currency must be accepted as a means of payment. In the U.S., for instance, the dollar is fiat money, and in Nigeria, the naira is. ...