I am proposing a strict whatever the hell people want standard. People don't want money that has value because it is used to pay off the mafia. The dollar is only worth anything because taxes are paid in it. Fractional reserve banking is pretty close to inherently fraudulent. If you have 10 bars of gold how can you loan out 80 bars of gold? Banks have pretend money and it is used for them to make real money. If I write a check to the bank for 10 times more money than I have, and then I use the cash for investments, it is considered fraud right? So why can the bank give out 10 times more money than it actually has? The only reason it can is because the government says that it can. The bank makes money out of nothing and then gets rich from it. That wouldn't happen in a libertarian world, because nobody really wants pretend money, and you can't really loan out 80 bars of gold when you only have 10.