Gold Standard has failed 3 times in the last 200 years, it is NOT a flawless system. Value is ALWAYS in the mind of the people, that's the fundamental truth of ANY currency. Once the people are no longer interested in following your "rules" it failes; even if it's gold.
The Gold Standard failed in the 1860's, it failed at the turn of the 20th century, and it failed in the early 1920's. Three such failures is why the entire world abandoned the gold standard. The gold standard doesn't allow for ANY currency manipulation in times of crisis. People see the words "currency manipulation" and just assume it's some sort of scam, but it's sound financial process that has proven to work time and time again to stave off the huge failures of the gold standard. You gotta ask yourself, if the Gold Standard is so great, why was it abandoned by literally every nation in the world? There are HUGE problems with the Gold Standard.
Fiat currency offers a lot of options that gold doesn't have, but a fiat currency, like gold is based on perception of value. If the perception of value is eroded, then it's game over...and it doesn't matter what standard you're on then.
