[Economist_MA]

Why would you want to tie the money supply to an arbitrary commodity? The supply of which is not stable but subject to shocks, and therefore to rapid price changes? How do you factor the velocity of money in (i.e. the speed at which money ciculates)? How do you deal with the frequent deflations a gold standard inevitably implies?

Do you honestly think that it is a coincidence that we experienced the most rapid economic growth after leaving the gold standard? That all developed countries use a fractional reserve system?

The pure fact that a central bank could theoretically wreck havoc with the money supply is no argument whatsoever against fractional reserve banking. By the same logic we shouldn't have an army because it could theoretically attack ours own cities. In fact an independent central bank has been shown over and over again to be the most efficient means to achieve economic stability. Only fools would try to move away from it.

[takenoprisoner]

The pure fact that a central bank could theoretically wreck havoc with the money supply is no argument whatsoever against fractional reserve banking

You nailed it!