China is getting nervous

After Bretton Woods, global currencies were backed by the Dollar which US Govt would have us believe was in return backed by Gold. Now that China has expressed a desire to explore a new global reserve currency backed by a basket of fiat currencies ( yen,euros etc. ) will this be better? Probably not. If other currencies are backed by the Dollar which is now essentially now backed by NOTHING, would they have any REAL value given that fiat currencies on their own have no intrinsic value?? The world should return to the Gold standard as it once was.