Honestly, I never got the argument of 'sound' money vs fiat money. Gold is just as arbitrary in value as a piece of paper with a dead guy's head on it and a printed signature.
In fact, if we were picking any resource to back a currency with...oil would be a pretty good bet.
It's far more widely used and practically useful than gold, and is relatively rare. And as it's being depleted at a far faster rate than gold. Peak oil will be reached eventually, and while fracking etc can produce more in the short term, we're going to eventually have to face the fact that our society is obsessed with mainlining a rare mineral commodity that's being depleted.
Eventually, the result will be that oil is worth far more than all other commodities...
before it all crashes.
Or perhaps environmental destruction will kill us all first! Nobody knows.
Whatever happens, humanity's fucked.
At least mildly.
Even if we manage to find an alternative to oil, we're going to have to convert everything to it.
And that's going to take ages.
Even by the optimistic standards of #transhumanism.
