Is the gold standard or an equivalent, the only way to reboot the financial system?

David Jensen:

No. Absolutely not. Money is always fiat. Always. 

Gold is a fiat money standard. 

Money is a way to defer the completion of trades of goods and services. Gold is neither better nor worse than cowrie shells or pieces of paper or electronic blips.

Money is an option on a future purchase. The problems in the financial system and in Western economies are not related to money, though they may be related to problems in banks. They are certainly related to the number of workers without jobs and the number of folks who call themselves investors who refuse to invest. Problems can be fixed if the right questions are asked.