Furthermore, Bills are not inflationary; All Bills expire (are paid) in not more than ninety days, Bills mature into Gold coin. Contrariwise, newly printed Fiat never disappears... but stays around to fuel inflation. This is not just monetary theory; world trade before was cleared by Bills of Exchange in circulation; after the destruction of the Bill market, pre levels of international trade were not regained until well into the nineteen seventies. The Pre WWI British empire, the one on which 'The Sun Never Sets', was run from London; and the British central bank had a miserly 250 Tons of Gold in its vaults; today the US Fed has supposedly 8,000 Tons; and various other countries each hoard several thousand tons as well. Of course, there is no Gold in circulation and no Bills of Exchange either. https://www.a1mint.com/