but I would argue that it would dominate our foreign policy ie manufacture wars to invade other countries for their gold reserves, just like the current government manufactures wars to keep the petrodollar scheme going.
The power of governments ALWAYS tend to grow (bigger government) as it's in the nature of power to always need more power to even maintain their current power. States cannot be trusted with the issuance of currency, it will just end up like the Petrodollar.
The real solution is NO STATE MANDATED CURRENCY, repeal legal tender laws and have competing currencies. Some can be backed by gold, silver, even fiat. The People (the market) has the power to decide which currency they want to do their transactions with, the power is in the hands of the People.
"If ye love wealth better than liberty, the tranquility of servitude than the animated contest of freedom — go home from us in peace. We ask not your counsels or arms. Crouch down and lick the hands which feed you. May your chains sit lightly upon you, an