Isn't the notion of a gold backed currency considered antiquated now? My understanding is that both the US dollar and Euro are fiat currencies as well, the US dollar having abandoned the gold standard in the 70s (http://en.wikipedia.org/wiki/Nixon_Shock).
Returning or going to a gold standard is a very regular recommendation by assorted persons. My personal perspective is that it's intuitive, but suspicious, and I'm not willing to invest the momentous amount of time and effort it would take to feel confident in taking one side or the other. (Other people need a smaller investment to feel confident.)
