Bigworld, One scenario for gold is for the new China-Russia-BRICS gold backed currency to be such a formidable rival to the dollar reserve system, that it forces the US into also partially backing the dollar with gold to remain competitive, and to prevent a mass flight from the dollar system. But with the dollar system already drowning in debt, and growing exponentially, It might be too late for that, hence the need for some type of major 'reset'.
Previously, the 'post dollar' plan was for the SDRs of the IMF to take over as the new world's reserve currency. This was devised in the late 1960s when it became apparent that the US would soon have to exit Bretton Woods and the gold standard that had backed the US dollar internationally. They were preparing to transition to the SDR, but also came up with the idea of the Petrodollar system (the dollar 'backed' by global oil sales) , which ultimately worked extremely well so the SDR idea was shelved. It's still around though, and there was a large issuance of SDRs ($650 bil) in 2021 to help deal with financial disruptions from the Covid crisis.
The SDR may still be the most likely scenario to take over the world reserve role. One idea might be to gradually increase the SDR's role over time, which would take the pressure off the dollar system and also remove some of the need / appeal of the new China-Russia-BRICS currency. Another approach might be to preemptively induce a crisis to bring in the SDR system faster, before the China-Russia-BRICS currency can get going. The emergence of the digital CBDCs all around the world is another aspect. Though these are presumably mainly for domestic use, using them in international trade and then as reserves for the central banks might be the longer term plan (?)
But it appears the US/Western finance ghouls will have to do something soon to maintain their grip on global finance. When faced with formidable rivals like China, Russia, India, BRICS, the level of desperation is growing. The highly risky Ukraine gambit could indicate the high level of desperation. Rickards says the slippery slope historically goes from - a) currency wars, b) trade wars, c) shooting wars.
When the British Empire was faced with the rise of Germany, they decided that a huge war (WW 1) was the only way to halt Germany's rise. Today, the entrenched Western finance ghouls are mega challenged again, so time for another desperation strategy. They would rather see the whole world go down in flames than to lose their vice grip on global finance and the hegemony it makes possible. So a dangerous time for the world.
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