See:
There Is No Escaping History. Fiat Currency Eventually Fails.
Notice that this is a critique of fiat money -- not a critique of state-issued money under a gold/silver or other standard. Fiat money is a rare occurrence in modern history. (We live in strange times!) As we can see, the examples found by the author are a small number of short periods here and there.
I have my own critique of gold/silver standards, but that's another issue.
The article you shared explains only paper money which is in history was not backed by gold that's why it fails. In recent generation of currencies, Fiat is a strong testament that a countries economy is growing or falling.