That's why government adopted it. I agree that competing currencies should be legalized and untaxed but the people who see the gold standard as a conspiracy are uninformed. The gold standard is more free market than a fiat currency because paper currencies not backed by precious metals are worthless without the coercive force of government and almost no one would voluntarily accept it. Returning to the gold standard, while not perfect, would force government to shrink because it reduces government's ability to use inflation to pay for the debt.
Want DP delivered to your inbox daily? Subscribe here: