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The article is good and I agree with most of it... except for 2 very important points you get dead wrong and need correction.
1- The dollar is not 94 year old in its current form its actually 37 years old. Until 1972 foreign central banks could and did still demand settlements be made in gold even if US citizens did not have that privilege.
2- Silver is also a currency with a long historical record as being used as money. Gold is not thus not the only metal based money in the world and most transactions were based upon silver in early industrial and pre industrial times. Gold tended to be used only for very large transactions by the elites while silver was used for smaller transactions by the poor and middle classes (more or less).
3- While silver under preforms gold in the early part of a currency crisis it outperforms it as hyperinflation drags on. Beware however because silver is VERY volatile and you might not want to invest in it unless you check on its price EVERY DAY. Giant moves in silver can and have happened over night. Never the less silvers rate of return is better then golds in commodity bull markets or noninflationary markets.
Inflation is caused by expanding money supply. It does not matter what backing it has, if any. Just keep the money supply fixed and you stop inflation.
This is the principle behind fixed-supply currencies such as the DiBuck (www.dibuck.com).
Commenting by HaloScan
