A Golden Currency Board : Prof. Steve Hanke weighs in on the issues around a stable monetary system

Prof. Steve Hanke, is a noted expert in monetary and banking policy.  In this attached paper, he shares his thoughts on the way forward if we are to have a stable monetary system. As we are watching currencies continue to depreciate in value (and as the Euro faces a crisis that may undo it), Steve has offered his thoughts on using gold as a foundation for a stable monetary system.  Ever imagined a Gold-Based Currency Board? It is clearly defined here as indeed the way forward. See attached document below.

Prof. Steve Hanke, a noted expert in monetary and banking policy

Can Gold do what the US dollar has found to be a Herculean task? Keep the monetary system stable