Gold arose as a monetary standard through the decentralized choice of the marketplace. Metallic standards have been in use for more than two millenia. In contr

Gold arose as a monetary standard through the decentralized choice of the marketplace. Metallic standards have been in use for more than two millenia. In contrast, a pure fiat system has only been in place since the 1970s, and all previous examples of fiat systems in history ended with disaster. This one might be the first stable fiat system, who knows? But it is a lack of perspective to deem a gold standard as kooky, strange, and new and consider fiat as proven, reliable, and stable. Our system is a bold new experiment.