Spoofing, Manipulation of Gold is why it can not, or any one item, be used to value currencies.
To avoid manipulation Item Banc, a first of its kind Global Parity Valuation Engine uses many basic human needs products, creating a basket, to derive value.
By recording and publishing Basic Human Needs (BHN -trade of commercial information) transactions the Item Banc Engine will provide the data to create a basket, an index, a measure that examines the weighted average of prices of basic human needs.
Valuations are calculated by taking price changes for each item in the predetermined basket of the five categories (food, shelter, medical, clothes, and paper goods) of BHN and averaging them. Analyzing the transactions of a basket of BHN will provide an accurate valuation of currencies used in the procurement of them.