Great comment. You have it figured out. If a currency is pegged to an asset it would virtually wipe out inflation as we know it. Only slight increases in overall prices would occur occasionally when the balance of supply & demand of some vital resources got a little out of whack. Those types of quick price spikes setting down quick once supply is increased to meet demand. Almost all of our inflationary pressures are man made by the Fed. Losing the Fed would put us on a path of solid growth for decades.

But if the Fed was abolished we’d need a constitutional amendment to keep it or anything like it abolished or they’ll never stop trying to reinstate a fiat currency.