alt Hacker News> money printed or valued should be based on tangible assets
The US had such a system before 1914. Money was exchangeable for gold at a fixed rate. That system was destroyed in 1914 with the Federal Reserve Act, and the inevitable result was endless inflation and debasing of the currency.
The once common compliment "sound as a dollar" has vanished from the lexicon.
The USD is considered the most sound currency in the world and has been for generations; maybe it's the most sound in the history of humanity (possibly a consequence of modern international relations and communications). The great majority of international transactions are in USD. At small shops in a lot out of the way places, they accept USD; many prefer it to their local currency.