Can the world’s economy go back to the gold standard instead of issuing new money?
No. The World’s economy cannot go back to the gold standard because if we were to divide all the gold that has ever been mined, equally among all humans, each person would have a speck of gold in their hand.
There is not enough mined gold to perform the economic functions that are needed to provide goods, services, and the transactions of a market system. It wouldn’t work.