It is no longer money for production. It is money for power. Those who have the most power get the most money. Production, ordinary labor, capital investment, industry and shipping have all been commoditized.

So long as this remains the case, gold is just another transient investment, another Bingo ticket at the casino for the masses. Sure ... some of the most powerful and wealthiest hold some of their wealth in gold. They also hold factories, mines, ships, politicians, great globs of debt and other financial paper, land, more land, corporations, governments, NGO's, ... But no way would they voluntarilly cede power for gold. No way would they let a classic gold based hard currency take their power over the worlds financials and currencies, from them. The power to make money is the power to rule the world.