If you say that is what gives it value, then the value would not be intrinsic but relative, because it would depend on certain specific circumstances to have value; as the fact that its scarce or the difficulty in its extraction.

Already in the past there have been cases where gold, not only is not scarce, but its abundance created similar effects as the FIAT. The first to notice inflation were in fact the Spaniards of the 15th century, when the gold of the Americas flooded the Iberian peninsula. They realized that in the places where gold was most abundant, the prices of all products increased, this of course, because gold was devalued in the same way as any other currency.

We also have no reason to think that technology will not make it easier to extract gold in the future.

The injection of paper has similar effects to the injection of gold, and in both cases economic prosperity is created, however, nothing that usually lasts because the only thing that gives value to both, is not its intrinsic properties, but the human will.

And by the way when I said "paper injection" I don't refer to the issuance of new paper, but to investment of foreign capital. Injection of paper from one place to another.