Supporters of the gold standard believe that fiat currency is just a minor misunderstanding, and that one day the gold standard will return in some other form, such as the Bitcoin standard.



As Mises described:

Both politically and economically, the gold standard has promoted welfare, freedom, and democracy. In the eyes of free traders, the main advantage of the gold standard is precisely that it is an international standard that meets the requirements of trade, international currency, and capital market transactions.

The gold standard is the transaction medium through which Western capital and industrialists spread Western civilization to the most remote corners of the earth. Wherever it went, it destroyed the shackles of outdated prejudices and superstitions, sowed the seeds of new life, liberated minds and souls, and created unprecedented new wealth.

Therefore, it is not difficult to understand why people regard the gold standard as a symbol of this greatest and most beneficial transformation in human history.
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