At no time in history has there been an abundant source of gold.....This is the important part of the sentance right here  ON INVENTORY.    With the stockpile debeers has on hand of diamonds, creating an extreme inflated market, I couldn't disagree more with you on Diamonds.....

 I see why gold can be used as a monetary fund, regardless of history, today in my mind gold is a worthless piece of human survival. 

 Food, fresh water, shelter, clothing..........   Gold, close to last on my list.

 BTW: Ive been wrong before, Im not arguing gold in use as a monetarty fund, but in the last 100 years, after every major catastrophy, in any country, paper money made a comeback after food, water, shelter, clothing etc......