Clock

Commodities are not magic. Commodities are what we all want. Commodity money does not require 'magical powers' to cast a spell on users- that's fiat money, which has no intrinsic value of its own, but is magically accepted in payments for labor and goods despite being toilet paper.

The public doesn't have to acquire enormous amounts of gold to build a paper money system on top if it. 100 oz's of gold could form the basis of 10,000,000 pieces of convertible paper wealth. The known ratio of paper to gold adjusts the value of the paper and therefore the prices of everything in the economy denominated in the paper. There is no limit to how much liquidity ( in paper ) you can add to the system, because whenever you add, the ratio of paper to gold changes, and the prices adjust.

Think of it like a clock. You only need one accurate clock for a town of one million to set their watches by. The day is 24 hours no matter the number of people telling time by the one clock. The foundation of the paper money supply is like the clock, the 'known quantity'. The same quantity of gold 'sets the time' no matter if a paper money system for 1,000 or 1,000,000 is built on top of it. It is all about ratios of paper to gold which then set prices.