Your evidence is faulty for these reasons: 1. You are choosing a specific currency. 2. You are choosing a specific time period. 3. The time period you choose

Your evidence is faulty for these reasons: 1. You are choosing a specific currency. 2. You are choosing a specific time period. 3. The time period you choose from already had world wide debt based currencies. 4. The UK already had a central bank. 5. The UK already had a reserve rate that was < 100%, and a practical reserve rate that was less than the prescribed one due to fraud by the banks. I do afford you that gold is volatile, that is true, but it is especially volatile these days because of its role in the economy. People view gold as the "oh shit, the government is going to default" or the "oh shit, I need to smuggle my wealth out of this country before they confiscate it" currency. Both of those properties make it very volatile to political and economic news. The point is that for every USD or CAD you bring forward, I can bring forward one of these: http://instagram.com/p/X7pWUKIHK5/ http://instagram.com/p/X7pWUKIHK5/ History is riddled with the collapse of currencies (and, hence, economies as there is a sudden shift of wealth away from those that saved it). The point of currencies is not to have them be good for the economy. The point of currencies is to be a store of value and a divisible good for exchange. I agree that gold has flaws, I also agree that bitcoin has flaws, but they do have some advantages as well, and I would argue that in gold or silver's case stability is one of them.