Indeed, fixing the currency to a specific weight and and purity of a precious metal WOULD stop [most] inflation in its tracks.
But in addition to that a simple amendment to the Constitution [assuming the Constitution carries any weight]would be as follows:
1 — One Dollar shall be fixed at a weight of 1/16,000 lb of gold of a purity not less than 99.9%
2 — The federal government must pay all of its wages and contracts in gold currency; it is forever and always forbidden to render to the Citizen a check or other form of credit as payment.
3 — No debt shall be assumed which shall cause the total debt of the United States to be more than 10% in excess of the physical valuation of gold currently in the Treasury.
#1 would fix the price/value of the dollar so that the government/federal-reserve could neither flood the market nor “starve” the market of coinage.
#2 would royally screw with:
a: Federal employee payment systems,
b: Federal contractors,
c: Federal military pay — Remember that the WHOLE REASON for Constitutionally mandating that the army’s budget could not exceed 2-years was to prevent a standing army.
d: The accounting [and tracability] of these physical monies would go WAY UP when auditors reviewed government contracts.
#3 would solve the problem of the government thinking that they could “spend” their way out of debt and force them to face the current economic realities NOW instead of waiting for everything to blow up