> It should also be noted that neither fiat currencies nor currencies backed by precious metals are guaranteed to maintain their value and are usually not the most secure means of long term wealth storage.

The promise of an absence of inflation (which I agree is not the same as a gold-backed currency; moderate price inflation took place throughout the Bretton Woods era) is a guarantee that currency will hold its's value; that's tautological. Which obviously isn't the case for people speculating on timing the market for gold. And taking away the ability for prices on average to rise reduces the yield and increases the risk on investments in production or extension of credit. If you make currency an attractive component of rich people's portfolios, you decrease the proportion of their wealth invested in the wider economy (and since achieving zero inflation means artificially maintaining these rich people's purchasing power, if they scale back their investments everyone else just has to work harder for less...). Which is why an absence of inflation isn't a good thing for workers.