Most of the problems we have is due to ignoring the constitution. Our founding father were smart guys and I think the frame work that was set forth should be followed.
It is called devaluation of the currency. That is why the dollar of today is only worth about $.04 when compared to 1910. After the fed reserve came on line it gave the banks a cartel like dominance over the economy. they have been given the right to print money and dump it on the market, therefore driving down the buying power of the dollar. As fas a not being enough money to go around. We would not have enough money to go around if the current inflated prices continue. In the event of going back to a gold standard the prices will reset according to the market forces, and the number of dollars available. In short that loaf of bread the you paid $3.00 for may only $1.50 after. Because there will be less currency in circulation.
How will that effect the mortgage/loans that are already in the market, I am not completely sure. I would assume that some sort of market adjustment would need to be made to reflect the change in the available dollars.
The international currency market would see a resurgence of the dollars value.
The thing that scares me the most is the amount of debt that is held by foreign powers. Just like when you have a large mortgage you become the indentured servant to the bank, the same thing is happening to the US. we are now the servant of China.
No matter if we make a move to Gold standard now or we wait, it will hurt either way. Little pain now, or we go the way of the Romans later.