It worked just fine until the government confiscated the peoples gold and issued them pieces of paper with a lien attached to each note. You talk as if people

It worked just fine until the government confiscated the peoples gold and issued them pieces of paper with a lien attached to each note. You talk as if people will be carrying gold bars around for payment, it doesnt work that way. As long as joe nobody can go to the bank and redeem his gold then there will be trust in the financial institution securing it.