Right now gold is a commodity and can be ‘money’ if accepted as a medium of exchange (as could all commodities). Right now, it is not a regular medium of exchange, (ie you can’t go to most stores and drop down a gold nugget in exchange for a good or service), so it is mostly a commodity.
Gold is and always has been a reservoir of wealth. Outside of coinage, jewelry, and some small application as a highly conductive, non-corrodible electrical connection and teeth filling substance, its value lies mostly in its scarcity.
And just so you know, George Soros, champion of the world socialist movement and main supporter of the current regime in the White Hut, has some 11 TONS of the stuff.
All gained by honest and above-board currency transactions, of course. So by market manipulations (buying or selling strategically), he could presumedly cause a massive panic in some smaller economies, and may well be behind the serious fluctations of the euro, not to say some of the pressure on the US dollar. That is also why the price of gold seems to rise sharply, then suddenly slump off.
Talk about gnomes in the banking business. He puts all the Rockefellers and Rothschilds (Bilderberg Group) to shame as pikers, and he is MUCH more malign in his intentions.
ML/N
I have to ask have you tried it?
“Right now, it is not a regular medium of exchange, (ie you can’t go to most stores and drop down a gold nugget in exchange for a good or service)”
I could understand a vendor not taking an ounce of gold for a $5 purchase where they would have to make change, but If I had a fair amount of gold I would think I can purchase with it, lets say a car, gun ( I know this will work), major home appliance...