You both talk about paper promises. Paper promises can go to zero, this is not relevant to the real world price of gold.
I don't think TPTB_need_war was talking about paper gold. When we talk about gold in this topic, normally we refer to gold related stocks such as gold miners, like GDX, GDL, GDXJ which normally reflect very accurately the gold price. Similarly, when we say buy oil then we talk about WTI and the likes. Armstrong is a market trader so we talk about stocks in relation to the market.