Is it time to end the fiat currency system?

It seems a lot of our problems stem from our fiat currency system that favors the well connect banks that have access to cheap credit i.e. discount window, tarp, etc, and government contractors that get the newly printed money first then the rest of society has to earn the money from these people. Shouldnt we go back to commodity backed currency it doesnt have to be just gold and silver... and end factional reserve banking so every transaction will be back by real value not just a piece of paper.