Which currency is more stable, gold convertible or credit?

Which currency is more stable, gold convertible or credit?

Often, the value of the gold currency is more stable
You would think that the future economy is exposed to the risk of chronic inflation by becoming a credit currency system

But it could be the other way around
There is also an aspect that the value of money was more unstable under the gold conversion system
For example
In the gold conversion system, the moment the news of the discovery of a large-scale gold mine somewhere, the currency's value falls
The discovery of large-scale gold mines, such as the discovery of California gold mines in 1849, and then Australian gold mines, later led to inflation
The large-scale supply of gold during this time has luckily been linked to the large-scale productivity growth of this time, leading to large-scale economic development and prosperity
(On the other hand, the large influx of gold into Spain after the discovery of the New World has led to the fall of Spain's economy, along with massive inflation.)
On the other hand, Photoshio boosted trade with China and brought prosperity to European society.)

What matters is the supply of money in proportion to the increase in output in society
The discovery of large-scale gold in the Industrial Revolution era is the good fortune of the society
In an era of industrial stagnation, the discovery of large-scale gold becomes a disaster for the society

The stabilization of the value of money is not just about preventing the currency from plummeting, as is often thought
The rise in the value of money is also bad for the economy
The stabilization of the value of money is that the value of money in proportion to consumer utility remains stable for a long time
If production increases, the amount of money increases
If production decreases, the amount of money decreases accordingly
It is important in terms of stabilizing the value of money
(However, since it is not just the stabilization of the value of money that is important in the monetary system, it is not the answer of monetary policy to reduce the amount of money just because production decreases.)

Credit money is much better if there are policymakers and systems that can implement appropriate monetary policy
In particular, unlike before the Industrial Revolution, when the growth rate was stagnant, the current era is the era of economic growth every year
Monetary policy cannot be entrusted to the unpredictable supply of gold in a growing society

However, the concerns of members of the economy who are worried about the currency's plunge in value in the credit currency system are justified
Because, in terms of state fiscal execution, the desire of politicians or governing groups to increase the executive budget is constant
Fiscal expansion and fiscal abuse lead to an increase in the issuance of government bonds, and as the amount of money increased due to the increase in government bonds, if national production does not increase, this will inevitably lead to inflation

Even so, the monetary system that entrusts the amount of money to the amount of gold is no longer effective in modern society
In order for society to prosper, it has no choice but to introduce credit money, but to develop a system and policy capability to properly control the amount of money