In addition to the re-pricing of gold, Rickards says they will simultaneously back the newly devalued US dollar with gold (based on the higher gold price).
As part of this process, all other world currencies will also re-price their own currencies to gold, based on the higher gold price. Rickards says this plan will be finalized at a global conference Trump will hold at Mar Del Lago in Florida with representatives from the world's main economies.
So this would accomplish several key objectives -
- Instantly de-clog the world's high debt situation, which will allow economic activity to flourish again.
- Keep the US dollar as the world's reserve currency thanks to the gold backing.
Rickards doesn't mention the IMF and SDRs, but going the SDR route presumably wouldn't be needed if the US dollar is given a new lease on life as the world's reserve currency.
He says the above re-set/reboot scenario could provide decades of renewed economic growth and prosperity for the US and the world.
Sure sounds better than collapse, which is where we're heading otherwise. The ominous de-dollarization of world trade has apparently spooked the bankster elites into taking this bold step.
They must see this approach as preferable to an IMF bailout of the world via the SDRs, and hopefully the Chinese and other countries will agree.
As investors, the obvious move now is to buy more gold ahead of the re-pricing/reboot. Even if it doesn't happen, you'll still want gold for the alternate SDR/IMF bailout scenario that is otherwise inevitable.
