We do not see that happening, for the same reasons. If gold becomes the major form of money, even using a blockchain representation indirectly, any cryptocurrency that is gold-backed would only have value to the extent gold itself remains of value and can be acquired. One of the mind control manipulations done for many, many, years has trashed the idea of a gold standard returning because "there isn't enough gold anymore." So there needs to be a way for a continued, if gradual, and eventually constrained, supply-side as an incentive for a robust speculative investment community. And that will help keep the price high and going higher and that, after all, is the ultimate purpose of the exercise. The higher the gold price goes and share prices of mining stocks, the more valuable it will prove to be, and be seen as such by the general populace, and consequently the more dollar-denominated assets will decline in value.
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