End the Fed people

[True Federalist (진정한 연방 주의자)]

Gold standard = instant massive deflation, economic contraction, and, ultimately, complete collapse.

While the gold standard will in the long term be deflationary, the only reason for massive deflation would be if a poor peg is chosen. Setting the peg too low or too high wlll cause a one-time bout of deflation or inflation, but there's nothing that would require the peg to be set too low.  Indeed, if anything, it would be in interest of the government to set it high so that it can make a one time profit from the increase of the book value of its holdings in gold.

[True Federalist (진정한 연방 주의자)]

1. Legalize Gold and Silver for alternative money.

Yeah, I don't think the currency police will arrest you if you try to pay for things in gold or silver. They're not illegal.

No, but if you hold gold and silver and they increase in dollar value, then you incur capital gains when you spend your money, so the government essentially taxes alternative currencies, even tho they are legal.

[True Federalist (진정한 연방 주의자)]

Gold standard = instant massive deflation, economic contraction, and, ultimately, complete collapse.

While the gold standard will in the long term be deflationary, the only reason for massive deflation would be if a poor peg is chosen. Setting the peg too low or too high wlll cause a one-time bout of deflation or inflation, but there's nothing that would require the peg to be set too low.  Indeed, if anything, it would be in interest of the government to set it high so that it can make a one time profit from the increase of the book value of its holdings in gold.

Peg of what to what? Presumably, there would be multiple banks issuing multiple gold-backed currency. Or should then it be the Treasury that should be granted a monopoly of minting gold coins?

BTW, the last time I checked, nobody is prohibiting anyone from writing contracts in gold.

I can't imagine any coherent system of taxation without some form of standard currency to use as a reference, regardless of whether it is the sole circulating currency or not. That standard will be set by the government.