I don't deny any of that. My objection was to the GP's initial singling out of gold. I'm also skeptical of how constraining a commodity requirement is in light of modern financial institutions and public finance.
> I'm also skeptical of how constraining a commodity requirement is in light of modern financial institutions and public finance.
I also am skeptical of that. I think that, since 1975 or so when the value of gold was allowed to float, the Fed has kept the value of the dollar more stable than the value of gold (or silver). And "in light of modern financial institutions and public finance", it's pretty important to hold the value of the unit of account more or less constant...
