[drpepper42]

I think your observation assumes that inflating the value of gold relative to the rest of economy is a problem - if you do not care about that I'm not sure it matters.

In any case gold served as a strong check on monetary policy even if it had problems. Certainly it is possible to have a "sound" monetary policy without gold. I'm just not convinced in societies ability to affect sound governance of monetary policy without some "stronger" guard rails. Especially not in today's climate.