I need to mull a bit more through some of his points, like gold and silver being the only present goods, with even warehouse receipts being future goods. He brings up "self liquidating," too, which makes me nervous. Things don't do actions, people do actions.

I'd like to see some more examples of how the RBD would work in practice. Everything I've seen so far is mostly like the medieval fair example in the last set of articles. I need more than a fancy barter system to sway me.

What I think is going on is this. You need $100. I decide that your stereo is worth $100, so I write a bill that is backed by your stereo, or you write an IOU that is the bill. Eventually you sell something and get $100 of gold (or maybe gold receipts, I'm not picky). You give me $100 of gold and I tear up the bill.

I'm not sure how this is different from a pawn shop. Or what happens if you default and I get your stereo, but it'll take me three months to find a buyer at $100, but I can find a buyer tomorrow at $80. Is there inflation? How is a dollar really defined? Popular in the Austrian school is defining a dollar as a weight of gold or silver. The $100 Real Bill doesn't bring X oz. of gold into existence. More research is required.

Frankly, it sounds better than what we've got. I don't know if it's better than a 100% gold standard. I'd be happy to go straight to free banking, too, and let the market hammer it out.