gold by itself is just more fiat money, it represents energy, the energy it takes to mine, refine, and shape the gold. We all know gold isn't easy to come by, that's what makes it valuable, that artificial scarcity was used with diamonds. All forms of currency represent energy, bitcoin for example represents the energy invested into mining it, the megawatts used to mine the shit isn't free. The petrodollar was a good idea because it tied energy to the dollar. Think about it, you work, you invest your energy and convert it to money so other people can expend energy on your behalf. You pay the mechanic to service your car, the prostitute to service your penis, the mexicans to service your tomatoes. If work cannot be converted to money, or the conversion rate is not correct, the market will self correct itself.