The U.S. Treasury can draw up to $700 billion in new funding from its gold revaluation account at the Federal Reserve. Read more here.

Didn't the us government collect all the gold and give it to the federal reserve (with gold certificates on the asset aide of this fed balance sheet) to make good on the US bankruptcy in 1933?

According to the Federal Reserve Bank of St Louis, the Fed banks holding gold certificates value them at $42.22 per troy ounce. That figure pales in comparison to the $3,037, ...

With a more radical return to historical practice, the Treasury could issue gold-backed currency in competition with Federal Reserve notes. This, though, would take further controversial legislation.