Personally, I don't see the problem with a fiat currency. Granted the potential for abuse is there, but hard currency can be just as easily manipulated. Seeing that we lost control of most of our gold reserve, if we did go back to a gold-backed dollar the value of that dollar would be vulnerable to manipulation by foreign powers. I'd rather take my chances getting swindled by a country I can 'reach out and touch' if I have to.

But I do agree that the entire debt based system of issuing currency via fractional reserve lending is folly, and is, in my opinion, the biggest problem we face in the US right now, bar none.