What do you think of the U.S. monetary system?

I honestly think that in the future our economy will collapse because of how our monetary system runs. Our currency is not even backed by anything. We literally create money to pay for debt and then have to continue to make more in order to pay it off. This will probably cause a very big inflation. I think if we actually switched to something like bitcoins it would stop a lot of these problems. Obviously this is all speculation, but what are your guys thoughts?

"I think if we actually switched to something like bitcoins it would stop a lot of these problems."
Bitcoin is based on nothing tangible, so in a sense it's worse than the current monetary system.
The US currency is supposed to be backed on gold. (Last I heard anyways)
Though the whole 'monetary' system is just plain out pointless in my opinion.

"I think if we actually switched to something like bitcoins it would stop a lot of these problems."
Bitcoin is based on nothing tangible, so in a sense it's worse than the current monetary system.
The US currency is supposed to be backed on gold. (Last I heard anyways)
Though the whole 'monetary' system is just plain out pointless in my opinion.

Actually you have to mine for it and the difficulty changes. It can't just be spawned it like our current us dollar. Now I am not saying we need bitcoins as our currency though I am just saying how it works makes sense. Also I think it is actually against our own constitution to not have our money backed by gold.

An alternative to having a currency backed by something (such as gold), is to have a reserve requirement where lenders must have their loans backed by at least a certain percentage of deposits.

http://en.wikipedia.org/wiki/Reserve_requirement