Murray Rothbard is in favor of gold backed currency. This is one of his books where he advocates in favor of this. In another one of his books his emphasis is about how the banks love being able to inflate. In this book, he starts off and emphasizes what a gold backed currency would mean. He explains that in an advanced society you need a medium of exchange. Without a medium of exchange, a banana grower would trade their bananas for private tuition for their child. If the teacher didn't need so many bananas they would trade those bananas for something before they rotted. In the end, a medium of exchange would be something durable and valuable. Over and over civilizations would pick gold or silver or something else that had value and was durable. Murray goes further by explaining that the value of your money, is by how much gold or silver it represents. A dollar used to be an ounce of silver, a pound used to be a pound of silver. From there he does explain that while gold or silver may be in your best interest, its not necessarily in the government's best interests. So in essence the government likes a fiat based currency as this allows it to spend, spend, spend. So what has the government done with your money? Inflated it and reduced its value.