Yes it's wise, if you live in a system like ours, to buy gold and silver as a hedge against hyperinflation (which is likely coming soon enough to justify buying some now), but from my understanding there's no way physical gold and silver can meet the needs of a global economy long term. There just isn't enough of it. If you want to peg the dollar to gold you can. It's worked before. But it's not necessary. We don't have booms and busts because our dollars aren't pegged to gold or because they aren't technically worth the money they're printed on. All that matters is that it's printed by our government (not as debt) and is legal tender for the payment of taxes and all public and private debts.
Unless someone here can explain how "Money Masters" is wrong about all that?
If it's pegged to gold it's not fiat. Paper adds convenience, but paper currency does not equal fiat currency. (If you mess around with definitions, you can argue those points, but most discussion treats fiat as "backed only by faith, not by defined hard assets.")
Being printed by the government isn't material either. Universally accepted standard increments matter. Protection against counterfeit matters, which is the same as saying protection against additional valueless printing. Governments can guarantee those standards, but often fail to do so.