Maybe the same shenanigans and imbalances can take place, but they can't last for decades. France showing up with a ship to claim gold after years of paper claims for gold building up won't be necessary. If France traded dollars for bitcoin, do a transaction. The US (or other) can't lie about how much they have and can't pretend like it's too difficult to transport or custody. Debasement will be sniffed out and rectified much more quickly.