Though not many politicians or corporate media support it openly, due to lobbying by the powerful Federal Reserve Bank (the creation of which even your founding fathers warned about), many economists world-wide embrace the idea.
Fiat currencies (as the current paper money) is inherently unstable, and will inevitably lead to hyperinflation (as we've seen with the recessions, past and current), this is practically impossible with gold-backed currency.
But there's advantages and disadvantages with both systems, but take a look if you will at these documentaries showing some of the problems with the current one:
Money, Banking, and The Federal Reserve SystemFiat EmpireIn Debt We Trust