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How an Honest Money System Can Help America

There is nothing wrong with a fiat currency. The problem comes when money is created only as debt. For example, if the government created money debt free and collected the interest on loans made with it (instead of private banks) then income tax would not be required.

The problems with using metal objects as money include:

-Far too easy for banks or other interests to corner the market
-Money supply can not be adjusted without buying into that cornered market
-It does not address the real problem we face today, which is debt, not fiat currency

Gold, silver etc. will always retain value as a backup unit of trade in the event of total financial collapse. But they are not suitable as the backbone of modern economic systems.

It is comforting for people to conclude that a gold standard is the answer to the problems we face today, but that does not make it true.