Thanks for the correction. I didn’t realize that the numbers I was looking at valued gold at other than market value.
I’m confused about why you’re only considering money in circulation here? In the future gold standard, are dollar bills redeemable for gold but money in bank accounts isn’t? Won’t that cause the run on banks to end all runs on banks? How do you even have a functional banking system if a printed dollar bill is worth gold but a bank deposit isn’t?
I’m willing to accept I’m totally wrong about all this stuff, but the above doesn’t make sense to me.