This well written piece suggest an intriguing alternative to the "gold standard"... allow currencies to "compete." The article is rather long (and a good read), but I will provide the summation:

"Clearly, important goals are within reach. Inflation is low, and price stability is beginning to be recognized as the predominant long-term monetary policy objective of the Federal Reserve. Flexible exchange rates, coupled with more-open capital markets, are enabling international currencies to compete with one another. Central banks cannot be complacent, however, because new challenges will surely arise. Just as fiat money replaced specie-backed paper currencies, electronically initiated debits and credits are likely to become the dominant payment modes in the future. The concept that money is like any other good and that competition among issuers can best guarantee its value should not be forgotten.