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Absolutely not, simply because there is not enough volume of gold out there to equal all our labour & production, much less equal any increase in our production.
The inherent volumetric impropriety (perpetual deflation) of any finite metal such as gold acts much the same as the volumetric impropriety of interest perpetually devaluing our production & the physical gold or money itself it further represents.
Having gold as an unnecessary further representation of our labour & production yet again is utter buffoonery, considering our labour & production already has the only intrinsic value & the added volumetric impropriety of interest can only escalate terminal monetary destruction all that much faster, which is the very reason why gold is no longer used to represent our production, primarily as a means to prolong monetary destruction even further so banks can keep on stealing the value of our labour & production & not devalue the gold they have already stolen.
Considering banks do not ever create money or ever give up consideration of value in any purported loan to one of us LOGICALLY all gold that once represented money in the past has already been physically stolen by banking in falsified debts that are mathematically impossible to pay down, if not due to the inherent volumetric impropriety of gold itself its by interest or both.
Therefore even if we eradicated the crime of banking & or interest returning a gold standard or even using physical gold coin as currency is stupid as stupid gets because you are still left with perpetual, monumental deflation.
All those who believe gold can somehow hold the solution only proves to me these deranged individuals not only failed primary school mathematics but do not even know what money is, how its really created & what it truly represents, which is not a gold coin or gold bar, but instead the value of our labour & production that has the only intrinsic value all money past, present & future records, evidences & represents.
What these fools fail to conclude is its only the volume of money, regardless if the tokens of representation are in the form of fiat/paper, gold/coin/bar, coffee beans, rum, or dog shit–money ultimately has to equal our labour & production in volume. So unless you want to carry around dog shit in your pocket fiat/paper money is the only viable rational alternative .
Of course you could carry around gold coins in your pocket, however as we increase our production those coins will be getting smaller & smaller in size/weight/volume to equal any increase in production, which is not only devaluing the physical gold itself, but devaluing what that gold is supposed represent— in our labour & production.
In other words the money itself is only numbers in volume that further represents the underpinning value of our labour & production, or our hard earned, blood sweat & tears we give up to each other, which is hardly nothing or thin air, otherwise banks would not be stealing the value of our labour & production in purported loans that do not ethically or even rationally transpire in the first place .
I have literally lost count how many times I have proven to the world gold is not a viable monetary solution, it never has as a matter of verifiable mathematical fact, but unfortunately there are those out there who still insist gold is the viable solution, without proving & even demonstrating it ever has been a viable solution or ever can be a viable solution.
So the question I ask these deranged individuals is where is your mathematics? Where is your logic? How do you account for deflation?
The simple answer is you cant, because you have thrown all rudimentary logic & mathematics out the window & instead solely relying on mere conjecture, unqualified assumptions & more often barefaced lies to sell non-solution only as if it was a solution.
Advocate / mentor, Co-founder, Co-director – Mathematically Perfected Economy™ (au)