It can't, which is why no country will use this system.

There are plenty of ways in which we can combat unnecessary accumulation of wealth (cough, tax, cough). A depreciating currency is not one of them.

Even communism might be easier to administer than this suggested monstrous system.

Yes this was pretty telling:

Instead, an individual’s economic success would be tied directly to the quality of their work and the strength of their ideas. Gesell imagined this would create a Darwinian natural selection in the economy: “Free competition would favor the efficient and lead to their increased propagation.”