Say you have twenty different commodities with varying market prices.  Find the lowest stable price by averaging what price all the commodities seem to at least go above.  Go a certain amount below that average and set that value as the value of currency.  The currency is not valued at the highest price of all commodities, but instead is set below the lowest value, in order to create stability that can be readjusted if necessary, depending on the lowest stable average of all commodities in the group.  Chosen commodities would include those that maintain a stable value on average.  Commodities whose price falls below the average would be reimbursed by the surplus of other commodities in order to stabilize the currency value- if the value of wood drops, the difference is made up coal, silver, etc.

How about we make oil futures a legal currency?

>>1
>if the value of wood drops, the difference is made up coal, silver, etc.
The market does this anyway. Currency essentially is a commodity as it represents assets of some sort, it doesn't matter if the currency is based on a commodity, zimbabwean levels of hyperinflation or a fundamental law of physics, if currency is undervalued brokers will "buy money" (sell) and if it is overvalued brokers will "sell money" (buy).

You can't stop inflation or deflation whatever currency you use because the total assets of a nation will never be in the same proportion to the money supply or gold or wood in the country.