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Replying to Avatar a source familiar with the matter

If it's backed by metal it's not fiat - you can express your lack of confidence in the issuer by redeeming the currency for the metal and peacefully withdrawing from the system

Fiat makes this peaceable withdrawal impossible (at least, not for everyone)

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Secretary Janet Yellen 2y ago

If it's backed by metal it means a central authority. You can peacefully withdrawn unless you get cheated by one of many trusted parties

https://decrypt.co/34033/chinese-firm-dumps-83-tonnes-of-fake-gold-on-the-market

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