That's the thing though, there was plenty of inflation while on the "gold peg", e.g. 4.19% in 1968 alone. You could make the argument that central banks have do

That's the thing though, there was plenty of inflation while on the "gold peg", e.g. 4.19% in 1968 alone. You could make the argument that central banks have done a better job of controlling inflation since making it a specific target. They could probably reduce the target close to zero with better financial technology in the future. The wtf 1971 site presents national debt and growing inequality as problems created by coming off the gold standard, I'm saying that if you do think those things are problems, pegging your currency to gold won't resolve them. Something like a government budget deficit cannot effectively be solved with monetary policy; they have to borrow their money just like everyone else (apart from a few special emergency arrangements). Reducing wealth inequality requires a broad range of policies, from education to taxation. the world would be a better place if governments don't have control over the currency I have a lot of sympathy for anarcho-capitalist schemes, and of course private money predates central bank money so that would be nothing new. There's no economic reason why a country should necessarily form an optimum currency area. So I'd be happy with that, so as long as we don't just peg it to some arbitrary thing. The value of all money lies inside minds and not mines.