Giles, if my currently suggested answer seems not clear enough I’ll expand on it. In the terms of what I consider superscarcity (scarcity that exceeds or outstrips any level of demand at a marketwide level (meaning that interpersonal exchange would effectively be nullified)) would more or less lead back to square one from which gold itself was selected in the far past as a defacto currency (via the Regression Theorem of Money…). I’m not sure if there wouldn’t be special conditions that would make it distinctive from the distant past, but I suspect that the answer is no since other commodities in the past competed with gold under special conditions (salt was the currency of choice in towns bordering deserts). And some continue today. It’s a matter of understanding the conditions themselves and realizing the abstraction (the principle “law”) is a separate fact that can stand on its own.
Two things:
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If gold becomes that valuable, I assume that we would switch to something like silver, platinum, palladium, rhodium, etc.
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Gold being an element, it could be split into individual atoms, molecules would technically not be needed.
In practical terms, electronically circulated gold (e-gold-like systems) can ‘virtually’ divide gold into any amount.