Replace "gold" in your statement by any other physical asset (silver, shells, rubies, ...) and you realize that this doesn't make much sense. If the world were

Replace "gold" in your statement by any other physical asset (silver, shells, rubies, ...) and you realize that this doesn't make much sense. If the world were to switch to a water-based currency and all other uses for gold would disappear 1200 tons of gold would be worthless