Here's the summation of your article: anyone that has the motivation will find a way to abuse whatever system is in place if they so choose. We saw it with gold standard systems (as you pointed out). We see it with FIAT systems. Who is in charge of the system is an important part. The system having poor checks and balances (letting someone hoarde currency) also lets someone from the bottom-up manipulate the system. So, really, both systems come down to the corruption of man.

However, a gold-standard system is more in tune with the people. They can have precious metals that are worth something. FIAT currency is more in tune with bankers. It provides a mechanic for them to manipulate markets (and people) with interest rates (and/or flooding the market with currency or drawing it out).

Both systems can be flawed. I do feel precious metals should be used for more important things other than sitting in a vault or a person's pocket book. We have all kinds of electronics and tech that precious metals are used in. They're only useful if you use them, so locking them away as currency is like locking your virgins away for fear of them getting pregnant and propogating the human race. (IE: it just doesn't make sense, and seems unnatural).

But, both systems are abuseable.. because people can abuse them. And folks that abuse them will not put checks and balances into place to prevent abuse. Otherwise they lose their competitive advantage. In fact, the FED loves FIAT currency, because they can use it to manipulate our markets. They lower interest rates and hand out money, let things grow for a bit, then raise interest rates and call in loans... It's like a harvest. They sow the seeds of growth, watch the growth, then reap it into their own pockets.