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On the surface this seems appealing. But I’ve often wondered about any negative consequences. Kinda like how you’ll see some headline about some asteroid having enough precious metal to be worth $20 quadrillion or whatever. They fail to take into account supply and demand. The instant you bring that sucker home the supply increases dramatically and the price would go down.
All that guaranteed money in the market, probably more than the private sector has invested would artificially influence the market.

Interesting historical example:
When the Spanish (they were mostly first among European Powers) got their American Colonial Empire up and running their first priority was GOLD!  They found a LOT of it in Central and South America and brought it home and this caused a massive shift in prices. 

This actually was a catalyst to ending feudalism throughout Europe.  Prior to the Gold from the New World prices had been so stable for so long that there were a lot of gold-denominated perpetual contracts.  Ie, if @Cincydawg is the wealthy landlord of this place his great-grandfather may have signed contracts with all of our great-grandfathers specifying that he was he and his heirs would rent a specified plot of farmland to our great-grandfathers and their heirs X oz of gold per year.  That may have then existed for generations with no need to change the price because prices were THAT stable. 

All the new gold, however, bankrupted the landowners.  Ie, lets say that @Cincydawg 's father rented out 500 acres at 2 oz of gold per acre per year so that works out to 1,000 oz of gold for Cincy's dad.  Just assume that 1,000 oz of gold is sufficient to live a REALLY opulent lifestyle but then the Spanish Gold causes the value of gold to drop by 1/2 or 3/4 and now all of a sudden Cincy isn't nearly as wealthy as his father and grandfather were.  Meanwhile for us peasant farmers this is a financial windfall because while the crops that we could grow on an acre used to bring us say 4 oz of gold per year and we had to pay 1/2 of that to the landlord (Cincy in this example) now the crops that we can grow on an acre bring us 8 or 16 oz of gold but we still only have to pay the landlord 2 oz which is now 25% or 12.5% of our gross. 

Maybe I'm missing something, but how is that analogous to our society now?  In today's world, Cincy would not be locked into any sort of generational contract.  If the value of the dollar plummeted, CD would just raise the cost of rent and the peasants would be in roughly the same boat.  The Spanish example doesn't seem to have inflation.  But we do. 

@Gigem specifically said:
"But I’ve often wondered about any negative consequences. Kinda like how you’ll see some headline about some asteroid having enough precious metal to be worth $20 quadrillion or whatever. They fail to take into account supply and demand. The instant you bring that sucker home the supply increases dramatically and the price would go down."

That is what I was comparing to.  The massive increase in the supply of Gold due to the Spanish Colonization of the New World caused exactly what he was talking about there.