Gold doesn't really provide a payment network, there are some cards out there, but thats just visa that settles in $ in the backend. IMO the strongest collective hallucination out there about what is "money" is still fiat and that gives it "relative" price stability, since most people are willing to accept it and hold it. Most people also still falsely believe that gold somehow backs fiat, so gold is part of it in a way. My point is just, that the promise on the debt in itself can not be the reason for price stability, since there are many cases where that is just not true. If that was true we wouldn't have 30%+ price inflation in the last few years even with the strongest fiat - the dollar. I think it just the fact that most people don't really understand it and also do not distinguish between nominal and real value. If they would "get" it, the fiat system would probably implode already...

Fiat system is the biggest innovation of modern society..