I sound like a broken record on this topic....but yes I think this is whats going to dawn (or has dawned) on both .gov and on the Federal Reserve itself eventually.

What you describe is how Gold was supposed to function on the Federal Reserves balance sheet. The gold holdings were supposed to be the counter-balance that underpinned its new currency issuance. (As more dollars were printed, the value of gold would increase to offset the devaluation, and conversely the more gold the Fed acquired the more currency it could issue without devaluing USD value).

However the US went bankrupt and Roosevelt issued the The Gold Reserve Act of 1934. This forced the Fed to transfer its physical gold to the US Treasury. In exchange The Fed received "gold certificates" from Treasury. The US Gov then officially fixed the price of gold to $42.2222 for both the physical gold it holds and, by extension, the gold certificates held by Federal Reserve.

The result has been this 100 yr stalemate between US Treasury and Fed that effectively demonetized Gold out of existence.

This is the potential that Bitcoin offers. It could come breakup this stalemate and this is where things get super interesting. Not only could game-theory break out among different nations, but could break out between national treasuries and their corresponding central banks. Each party would be incentivized to "beat the other side" to the punch.

Currently it seems like US Treasury is winning, but will the Fed counter?