Felix Salmon points out that the US holds $400 billion worth of gold at the current market price, or as he puts it $3,500 for every household in the country. Barack Obama is worrying about the Republicans not raising the debt limit. Ron Paul and friends go on and on about fiat money and how we have to go back to the gold standard.
Eli proposes to make everyone happy, well, not everyone. Barack Obama and Timothy Geitner should go on television and announce that unless the debt limit is raised immediately they are going to start selling gold to cover the obligations of the United States.
It will effectively put the US back on the gold standard because we will be using gold to pay the debts and obligations of the country. It will also cover the debt for some time. But best of all this will make a whole bunch of Republican heads explode. Let's see how long the Republicans can hold out.