During the time when gold was money, there was no inflation problem, just mild deflation. If you loaned money to the government (bought bonds) you would get back your principal plus interest. Now, you get back less due to inflation, which in 20-30 years could mean you get back half or less.

Why would we want paper money, fiat money (fiat is Latin for "let it be" meaning it's worth what they say it is), which is debt? The dollar has fallen 95% since 1913 when the Federal Reserve was started. The volume of paper money is rising at over 14% right now, and the government lies about what the inflation rate is. Unless productive output rises 14%, the dollar will shrink some more.

Gold is an inflation hedge. That's all it can be right now.

If we had an objective money, gold would be the primary candidate to be that money, it would have to be something you can determine the value of by evidence, not hearsay.

Gold can do the job.