Indeed it does apply to gold and to currencies using the [Gold Standard](http://en.wikipedia.org/wiki/Gold_standard http://en.wikipedia.org/wiki/Gold_standard)

Indeed it does apply to gold and to currencies using the [Gold Standard](http://en.wikipedia.org/wiki/Gold_standard http://en.wikipedia.org/wiki/Gold_standard) which has caused problems in the past, which is why it isn't used anymore as a currency on any significant scale.