The Use of Gold for Money Leads to Efforts to Inflate Its Value

Gold is abused and made into vessels of dishonour, and abolished from ideal society as though it were the cause instead of the instrument of human baseness; but, indeed, there is nothing bad in gold. Making gold into vessels of dishonour and banishing it from the State is punishing the hatchet for the murderer's crime. Money, did you but use it right, is a good thing in life, a necessary thing in civilised human life, as complicated, indeed, for its purposes, but as natural a growth as the bones in a man's wrist, and I do not see how one can imagine anything at all worthy of being called a civilisation without it. It is the water of the body social, it distributes and receives, and renders growth and assimilation and movement and recovery possible. It is the reconciliation of human interdependence with liberty. What other device will give a man so great a freedom with so strong an inducement to effort? The economic history of the world, where it is not the history of the theory of property, is very largely the record of the abuse, not so much of money as of credit devices to supplement money, to amplify the scope of this most precious invention...

Reminds me of the Mortgage crisis, when homes became a source of money and every effort was made to over-inflate their value.