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The article focuses on the history of currency question relating to monetary systems in the U.S. The author explores the two monetary systems that have existed in the U.S., namely the gold-silver standard or bimetallic standard that functioned from the 19th century to approximately 1914, and the U.S. Federal Reserve System which was initiated in 1913. The author emphasizes the stability and constancy of the dollar value, as well as its exchange value, during the bimetallic standard period. The pertinence of the U.S. Supreme Court case ''Hepburn v. Griswold in 1869 and its determination on the unconstitutionality of the use of greenbacks for payment of debts contracted before the passage of the Greenback Act in February, 1862 is addressed.

The article focuses on the gold standard as a potential monetary regime and change to monetary policy in the U.S. The author explores the least costly way for the U.S. to transition to the gold standard. Two paths leading to this transition are discussed by the author, namely the setting of a date after which the U.S. dollar is solely defined based upon grams of pure gold and the growth of a parallel gold standard along with the current fiat dollar. The author emphasizes that the endogenous nature of the gold standard would signify little need for monetary policy by the federal government in the country.

The article focuses on the economic aspects of the global fiat monetary system that has been prevalent since the early 1970s. The author explores the principles of the fiat system, including the ability of central banks and governments to increase spending when desired and its tendency to avoid financial constraint regarding deficit finance and the over-issue of currency. The author compares the monetary system to that of the mid-20th century monetary management system called the Bretton Woods system.