I think you misunderstand your own question. No, I do NOT think the price of gold is arbitrary. That’s what I just said. Are you incapable of having a conversation without trying to insult your listener? Good grief.
“There isn’t enough gold in the world to back the world’s economies”
Gold is relatively fixed in quantity. About 10 billion ounces over the last 200 years.
Gold based economies have been in existence for quite a while.
The price just needs to change to fit the economies. If you don’t get that, you shouldn’t make such comments as you did above.