(401 G.C. educational series, Oct 1st. 2022)
From a few years ago during the Trump Presidency an old idea has RE-emerged in today’s inflationary crisis :
The U. S. has now experimented with a central bank fractional reserve banking option for over 50 years , print money ad nauseum with no gold backing it until something breaks.
The second option is to simply return to gold as the premier international money. Here’s how it could happen…
Trump might play along with the globalists’ schemes, but I doubt it. He’s the first president who’s openly and sincerely hostile toward globalism. He’s denounced it repeatedly.
Trump recently said, “We will no longer surrender this country, or its people, to the false song of globalism.”
In my view, there’s only one way Trump could fight the global elites and their SDR plan: return the dollar to some sort of gold backing.
Trump has said favorable things about gold in the past. So have some of his advisers.
It wouldn’t be easy. He’d face one hell of a struggle with the globalists. And winning would be far from certain.
No matter what, the death of the petrodollar, just like the end of the dollar’s link to gold, will be very good for the dollar price of gold and gold mining stocks.
When Nixon took the dollar off gold in 1971, gold skyrocketed over 2,300%. It shot from $35 per ounce to a high of $850 in 1980. Gold mining stocks did even better.
Gold is still bouncing around its lows. Gold mining stocks are still very cheap. I expect returns to be at least as great as they were during that paradigm shift in the international monetary system.
Posted by:
Jack Dempsey, President
401 Gold Consultants LLC
jdemp2003@gmail.com