Gold provides a counter-weight keeping monetary policy honest.

Inflation prescribes poor medicine. Recessions are corrective. The more freely the economy is allowed to heal the quicker is recovery and less painful is the recession. Actually government should intervene even less during crises because weakness allows less cushion to absorb government waste.

If for arguments sake we pretend that inflation rejuvenates a struggling economy, then even inflationists could only advocate fiat currency during recessions. That’s the only logical conclusion even they can insist