So how will it work? Will we just exchange our paper for gold?
Yes, I get that.
I realized after I posted that my question was not clear. I'm a little more simple-minded and concrete-thinking than that.
If I have a $10 dollar bill, and we suddenly flip to gold standard, would I just turn in my piece of paper for $10 worth of gold?
That's what happened when we left the gold standard, only in reverse.
I guess I'm asking about the actual process.
You're sitting with say $1000 one day and the next it's poof - just gone; too bad, so sad?