Interestingly, there is another proposal out there, though it's not supported by the Austrian School. It suggests a return to full reserve banking with a fiat currency. The Federal Reserve and the FDIC would be abolished and a constitutional amendment would define how much money should be kept in circulation so that central planning through manipulation of the money supply and interest rates would not be possible. I'm not endorsing such a plan, but I'm not discounting it either. A commodity backed currency would be safer, simply because it's been done before and has been shown to work. The proposal I'm referring to has never, ever been attempted before and might either be a smashing success or a horrific failure.