Gold Reset To $10,000/oz Coming "By January 1, 2018" - Rickards

GoldCore's picture

Gold Reset To $10,000/oz Coming "By January 1, 2018" - Rickards

- Trump could be planning a radical “reboot” of the U.S. dollar
- Currency reboot will see leading nations devalue their currencies against gold
- New gold price would be nearly 8 times higher at $10,000/oz
- Price based on mass exit of foreign governments and investors from the US Dollar
- US total debt now over $80 Trillion - $20T national debt and $60T consumer debt
- Monetary reboot or currency devaluation seen frequently - even modern history
- Buy gold eagles, silver eagles including monster boxes and gold bars 

- Have a 10% allocation to gold, smaller allocation to silver

Editor: Mark O'Byrne

Source: Agora Financial

A new monetary standard which will see the dollar "reboot" and gold be revalued to $10,000/oz according to best-selling author and Pentagon insider Jim Rickards.

A monetary 'reboot' is not unprecedented

Articles about an imminent return to the gold standard are not exactly infrequent in the gold world and it can be easy to become immune to them and dismiss them without considering the facts and case being made.

Many of the articles are not just based one ever-wishful daydreams. Much of it comes from information that is true about today and is then applied to situations that we have seen in the past.

Rickards makes this point himself. A monetary reset is not unheard of. Since the Genoa Accord in 1922 there have been a further eight reboots. The most recent was in 2016 in what Rickards refers to as the Shanghai Accord which purportedly saw deals done that would allow China to ease without leading to a sharp correction in the US stock market.

Rickards isn't the only one who is speculating that there could be some big monetary changes on the horizon. In March intelligence service Stratfor wrote:

Trump may consider unilateral or, failing that, multilateral currency interventions to bring it back down...Negotiating a new coordinated monetary intervention

Stratfor's analysis was considering the threat of a strong dollar on Trump's plans to reduce the trade deficit. We have recently discussed the danger of political deadlock and uncertainty on the US Dollar and how this will benefit gold.

Rickards' comments come from a similar viewpoint in that there is decreasing faith in the US dollar. This lack of trust is mainly driven by the more than $100 trillion debt ($20 trillion national debt and another $100 trillion in off 'balance sheet' liabilities) in the country and the ongoing dedollarisation by major economies.

Should Trump continue to stumble, disappoint and provoke then we will no doubt see this issue snowball even faster.

No longer banking on debt

The Federal Reserve — America’s central bank — has lowered interest rates and printed nearly 4 trillion new dollars out of thin air since the economic crisis in 2008.

That’s equivalent to nearly one quarter the size of the entire U.S. economy.

The number one consequence of all of this money printing so far hasn’t been inflation at all…

It’s been debt.

Total U.S. debt — across all private sectors — has risen to nearly $60 TRILLION…

That’s over three times as big as the entire U.S. economy.

If you add the federal debt to that number, you get $80 trillion! That’s more than four times the size of the U.S. economy.

Source: Jim Rickards via Agora

In fact, the Government Accountability Office just reported this year that the U.S. is at risk of “fiscal failure.”

And Harvard Economics Professor Kenneth Rogoff says, “There’s no question that the most significant vulnerability… is the soaring government debt. It’s very likely that will trigger the next crisis as governments have been stretched so wide.”

And Investor’s Business Daily reports that: “Current total debt, at roughly 105% of GDP, is already in the danger zone — and based on historical economic studies, this is where nasty things can happen.”

All of this is the result of too much debt… too many Obama policies… and too much meddling by the Federal Reserve.

But what happens when there is too much debt? The dollar is still relatively strong so does it matter? Yes, says Rickards, 'many countries are relentlessly abandoning the dollar.' 

Too much debt to make America Great Again

Countries aren’t sticking around to figure out whether the U.S. can really pay back its debt or wait to see if their dollar reserves are going to keep losing their value…

Like billionaire investor Warren Buffett said

“People are right to fear paper money… it’s only going to be worth less and less over time…”

And he’s right. The U.S. dollar has lost 96% of its value since the Federal Reserve was created in 1913. Meanwhile the national debt has skyrocketed!

The dollar and debt are two sides of the same coin:

Source: Jim Rickards via Agora

That’s why many countries are relentlessly abandoning the dollar.

Typically most foreign governments invest their surplus or savings in U.S. financial assets.

Global trade is typically conducted in U.S. dollars, too.

The dollar is what’s called the “world’s reserve currency.”

As one Forbes columnist put it, “ There is a global currency. It’s called the ‘U.S. dollar.’”

But all of that is about to change if the dollar is not rebooted.

The dollar is getting dumped around the globe because of our debt, spending and money printing.

The total amount of “de-dollarization” is at least: $1.14 TRILLION…

But it’s not just the “de-dollarization” of the world that’s making this so urgent. You see, countries have not only stopped buying U.S. Treasuries… but they're selling them at a record clip.

Bloomberg reports, “ America’s Biggest Creditors Dump Treasuries in Warning to Trump .”

The Economist says, “As America’s economic supremacy fades, the primacy of the dollar looks unsustainable.”

Trump to call global summit and take control

Rickards believes that the situation of dedollarization will get so bad that the US President will be forced to call a summit of world leaders and monetary authorities.

Using his stature as leader of the free world, he’ll bring the financial leaders of the globe together.

This would include delegates from the U.S., China, Japan, Germany, Italy, France, the UK and the International Monetary Fund.

Then, they’ll agree to simultaneously revalue all of their currencies against gold until the price reached $10,000 per ounce.

Will Trump really call a global summit? Who knows. His own team probably won't know until he tweets about it.

But you should consider one element that Rickards mentions. Aside from a new monetary order, Trump is about to become the most powerful US president when it comes to looking after the US Dollar.

You see, there are seven total seats on the Board of Governors of the Federal Reserve. That’s the group that makes our central bank’s decisions.

The president appoints each governor.

That means Trump could be able to appoint five governors in the coming months, including a chair and two vice chairs.

Trump will have six out of seven board seats in Republican hands.

In effect, Trump will own the Fed!

The Republicans will also have the White House…

And a majority in the House of Representatives and Senate…

Conservatives will soon be a majority on the Supreme Court, too.

And there are more Republican state legislatures and governors in the state mansions than at any time since Civil War reconstruction.

This means President Trump could have zero resistance to changing the debt-dollar system we have.

Whether Trump 'owning' the Fed means he would seek to upend the international monetary order is one thing. But, even if he doesn't do that, investors would be wise to consider what impact a Trump-controlled Federal Reserve would have on the world.

Why $10,000 per ounce?

It’s the gold price Donald Trump will need to use to “reboot” the U.S. dollar and the world’s international monetary system.

This isn’t a far-fetched concept, by the way…

Since the world financial crisis in 2008, many of the world’s governments have been buying physical gold in record amounts.

In fact, according to a recent report by the Official Monetary and Financial Institutions Forum (OMFIF), world central banks have been buying gold at a rate of 385 tons per year since the 2008 crisis.

Those are levels last seen when the world was on the gold standard pre-1971.

Why are they buying so much gold?

Because they know gold is going to be money again…

And the more gold they own, the more leverage they'll have when Trump calls the world’s financial powers together to reform the monetary system at his Mar-a-Lago resort.

As with chat surrounding soon-to-be gold standard, calls for $10,000/oz gold (or more) are also not uncommon in precious metal spheres. Since I began in the gold industry I have been reading about the imminent rise of the gold price to $30,000 even $40,000.

In truth, I believe such outlandish predictions are damaging for the long-term reputation of the gold and silver investment community. Regardless of where you think the gold price and gold standard could head to, it is all relative to your own situation, your own portfolio and the currencies you buy it in.

At the same time, while gold at $10,000 per ounce seems outlandish now, it is not impossible and indeed the scale of the levels of debt in the U.S. and internationally make it quite possible. When gold was trading at $250/oz in 2002, a rise of more than seven times and gold at $1,900 seemed outlandish to most.

Whether or not you believe Trump will ever achieve a new gold standard in a currency reset, it is vital to consider the point that central banks have been net buyers of gold for some time. A lesson for all investors.

And the most important nugget to takeaway from pieces such as this is that governments are in a completely unsustainable, debt-laden position. The current state of the global economy is unprecedented. We are also in unknown times when it comes to technology, cyber threats and nuclear sabre rattling. Governments buying gold is sensible portfolio diversification.

Buying gold coins and bars a prudent way to hedge coming currency devaluations

Rickards, Stratfor and even us here at GoldCore cannot predict what will happen in terms of the gold price. What we do know is that gold has played a very important role throughout history - especially as a hedge against currency devaluation.

Currency devaluations are coming and currencies are set to fall in value against gold as they have done throughout history. The only question is how much fiat currencies will fall versus gold and silver.

History has taught us that governments rarely know what they are doing when it comes to financial and monetary planning. It has also taught us that when times are tough countries turn on one another and war becomes common. Trade wars lead to currency wars lead to real wars. We are seeing that today.

Investors and savers are wise to think small. They should consider their own form of gold standard and how they can protect themselves. Buying gold bars, gold eagles and silver eagles including monster boxes is a prudent way to hedge the real risk of global currency debasement today.

The extracts are taken from an article which originally appeared on Agora Financial.

Gold eagles can currently be acquired from GoldCore at record low premiums of 3%.
Please call to secure coins as this is a phone call offer only and not available online.

Gold and Silver Bullion - News and Commentary

Gold slips on stronger dollar; geopolitical risks support (Reuters.com)

Asian markets rebound, shrugging off North Korea tensions (Marketwatch.com)

Crude slips, gasoline jumps as storm shuts a fifth of U.S. fuel output (Reuters.com)

ICE to take over London silver benchmark on Sept. 25 (Reuters.com)

Wall Street insiders sell bank shares as Trump rally reverses (Irish Times)

Source: GoldCore

Gold to surge to $1,400 by early 2018 as rates stay low - BoA (Gulf News)

The Battle for India's $45 Billion Gold Industry Has Begun (Bloomberg)

Stevenson-Yang Warns "China Is About To Hit A Wall" (Zerohedge)

U.S. may revalue gold if debt ceiling isn't raised - Rickards  (Daily Reckoning)

Gold may assume traditional role as "risk mitigator" ... Cryptocurrencies "vulnerable" - El-Erian (Bloomberg)

Gold Prices (LBMA AM)

30 Aug: USD 1,310.60, GBP 1,014.93 & EUR 1,096.71 per ounce
29 Aug: USD 1,323.40, GBP 1,020.34 & EUR 1,097.36 per ounce
25 Aug: USD 1,287.05, GBP 1,003.90 & EUR 1,090.90 per ounce
24 Aug: USD 1,285.90, GBP 1,003.26 & EUR 1,090.44 per ounce
23 Aug: USD 1,286.45, GBP 1,004.33 & EUR 1,091.68 per ounce
22 Aug: USD 1,285.10, GBP 1,000.71 & EUR 1,091.95 per ounce
21 Aug: USD 1,287.60, GBP 999.82 & EUR 1,096.52 per ounce

Silver Prices (LBMA)

30 Aug: USD 17.44, GBP 13.49 & EUR 14.60 per ounce
29 Aug: USD 17.60, GBP 13.59 & EUR 14.62 per ounce
25 Aug: USD 17.02, GBP 13.26 & EUR 14.40 per ounce
24 Aug: USD 16.93, GBP 13.20 & EUR 14.36 per ounce
23 Aug: USD 17.06, GBP 13.32 & EUR 14.48 per ounce
22 Aug: USD 17.02, GBP 13.27 & EUR 14.48 per ounce
21 Aug: USD 17.02, GBP 13.20 & EUR 14.48 per ounce


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Greenspazm's picture

Yeah right. Riktards also said the dollar would collapse in September 2016.

galant's picture

Yeah. Right. And with gold at USD10,000/oz, what will a macburger cost?

opport.knocks's picture

So if gold miners/refiners are producing at say $800-900 per ounce, what happens to their stock?

kamikun's picture

Good Lord... Rickards is taking pages from Jim Willie's playbook and sounding like every other hack metal "analyst" on alt-right websites. What happened there, Jim? You develop an expensive coke addiction or a sudden need to keep yourself hip deep in bikini party girls? 

Or you could take a risk on an asset that has been producing real 3 and 4 digit precentage increases three out of the last four years. But no, you know your readership's demographics. Go ahead and line them up to get kicked in the nuts again.

GodSpeed_00's picture

lol Bitcoin will be $10K before gold.

White Devil's picture

Fuck your Bitcoin Shitcoins.

White Devil's picture

Fuck your Bitcoin Shitcoins.

izzee's picture

"A new monetary standard which will see the dollar "reboot" and gold be revalued to $10,000/oz according to best-selling author and Pentagon insider Jim Rickards."

does that infer CIA Insider too??

here's a "map" from Agora Financial.  Located in Baltimore Maryland.
They Own more Real Property on the 2 blocks that includes the Peabody Conservatory(they don't own that it's just that prestigeous up the street addreess), under their various names of Financial Advice NUZ Letters....The Oxford Club, for one, THE Exclusive Advice given to YOU by the Special People with Inside Info ... for a monthly Price)

The owners have made a fortune in 40 years putting out 20+(or more).   this is just an advert for Agora....a very very very bunch of rich guys...on your Dime "literally".

https://agorafinancial.com/

https://www.indeed.com/q-Agora-Publishing-l-Baltimore,-MD-jobs.html

https://www.google.com/maps/place/Agora+Financial,+LLC/@39.2992609,-76.6...!3m1!4b1!4m5!3m4!1s0x89c804976c92e935:0x4fca47e48af29622!8m2!3d39.2992609!4d-76.6144031

 

 

Herdee's picture

Gold has always been in vogue. It's been international money for 5,000 years, just choose your paper currency that you want to exchange it into, better still it's even the best currency to barter with. They'll get rid of cash, just watch.

http://www.silverdoctors.com/headlines/world-news/jim-willie-to-procrast...

Duc888's picture

 

 

This was "planned" way before Trump got into office.  Word is China won't agree unless Gold is north of 6K an ounce.

Clock Crasher's picture

Prediction- Rickards sells 5 additional best sellers over the next ten years BEFORE Gold comes close to 10,000.

Why would the dollar collapse?  G4 Balance sheets are all equal at 4 Trillion USD.  So where is this dollar collapse.

If it comes from an external source that source gets sterilized by siege and war waged with depleted nuclear ammunition.

If Gold closes in the 1,300 or 1,400 for 2017 and GSR closes with a sixty-handle I will declare major victory.

You can go fuck yourself with 10,000 Gold.. what would that do to the banks that have stockpiles of naked short contracts?

Full Retard.

Arthur's picture

The whole premise is goofy.

The markets are basically working.  The dollar is already down 15% this year vs. the Euro.  So why would Trump "reboot" the dollar even if wanted too?

 

idontcare's picture

During this administration...... Ummmmm, NO!

Setarcos's picture

OK.  Gold bugs and bitcoin/crypto zealots please hear me out, then throw me out of course, with or without expletives, I care not.

1) Gold is not money, unless minted as coinage with a stamped, somewhat fiat face value, which enables the customary exchange of "stuff".  However gold has never been much use as a means of exchange, a currency and legal tender, because it is too valuable (scarcity and amount of "congealed labour"), cumbersome (heavy), too small in spendable units (e.g. less than 1/10th ounce) and too easlily lost or stolen.  Back in the 19th Century when gold coins were in circulation, a gold sovereign = about a month's wages (give or take), so no one in their right mind would want a basically unspendable, easily lost coin ... let alone anything larger.  In any case silver and copper (also only just commodities unless coined) comprised common currency, with paper coming in later and even more convenient.  In any case, no matter what, it was all tangible.

2) Bitcoin is not money, period.  It and other cryptos have all the hallmarks(sic) of previous Ponzi/pyramid schemes, such as dot com and, in fact, the entire present Financialist, ethereal (dis)order of things.  I am not jealous of early takers who might have made a U$D fortune, but I do feel sorry for late suckers.  It'all intangible, ethereal.

3) Leaving all that aside for now.  Say both gold and bitcoin go to U$D10,000, but also lets assume that Jim Willie and many others are correct that the U$D/petrodollar will go to zero/cease being the international reserve currency. What will be the value of gold and bitcoin?  Jim Willie, and others, assume that there might be a domestic dollar - which drastically devalues - but even though gold might be an eventual store of wealth, for all practical purposes it will be worth zero ... always practically was for everyday transactions.  As for bitcoins ... well, for instance, good luck when oil imports fail, along with the petrodollar, and power stations shut down for extended periods.  Oh and I saw what happened to just one local supermarket when it lost power for over a month and it took about 3-4 days to instal large diesel generators.  I think, know that millions of people do not have a clue where even milk comes from, never mind something as highly complex as electricity supplies.  I bet that most bitcoin zealots do not have much of a clue, any more than do checkout chicks who cant do mental arithemetic these days.

Silver Savior's picture

But explain how I bought two 10 ounce Royal Canadian Mint silver bars from a well known online bullion dealer with Bitcoin that is supposedly not money. 

Now normally I don't defend Bitcoin because I don't like it, I think the altcoins are superior but yes Bitcoin is money. Gold is also money because people trade with it world wide. 

yvhmer's picture

Well, it depends on how you.look at it. There is a Dutch saying which goes like this: the hand of a child is easily filled. Looking at it from a practical point of view, a child's hand will be much smaller than that of a grown-up.I am sure a grownup can handle the fysical better, and a child, well, the imaginary.

I tend to regard gold and silver to be grownup stuff. Digital can also have a good life. And no doubt, after a 100.000 years into the future, what difference at that point in time does 6000 years, make?

A child can act like a grownup. Hahaha, I still see my little on stepping into my shoes and trying to walk, Al the while exclaiming: I am daddy.

So, wrapping it all up, digital denominations can act like money. Just like currencies of every fiat fiat stripe, but it ain't the real deal. Mimicry goes a long way, nature shows.

 

 

 

 

using a certain amount in a particular digital denomination does not make it money. It is acting like money. The same way, in that using a  certain amount of the federal reserve denomination does not make it money. It

Duc888's picture

 

 

"but even though gold might be an eventual store of wealth, for all practical purposes it will be worth zero"

 

Hmmmmmmmmm  I'll PM you, please give me your contact info.  When it is worth "zero" please hit me up and I'd be more than glad to give ya $10 an ounce for it.  MMMMMMMMMMMMMkkkkkkkkkkaaaaaaaaayyyyyyy?

Setarcos's picture

I did say "eventual" - 6 months, 6 years, 60, who knows how long before a new stable system eventuates?  Meanwhile if/when the U$D becomes worthless, particularly for international trade, then because gold (and bitcoin) is currently priced in U$D for purchase and exchange purposes, it will be worth the SAME as U$D, zero.  Simple.  Sure you could/might barter it and haggle that one ounce = a month's worth of food, or a nice set of clothes, but the vendor has no way of telling if your gold is genuine does he.  I have read that during WW2 desperate people would hand over any amount of gold for passage out of a war zone, perhaps paying 10X actual cost of passage.  Probably many just got robbed.

Meanwhile I'll charge you U$D2,000 per ounce for gold.  Trust me.  Genuine offer and free storage, unless you can collect in person with cash in AUD, in which case I'll discount to U$D1,400.  You pay for assay if you want one.

idontcare's picture

Silver on the other hand actually has some practical uses beyond "coinage" and jewelry.  Just saying.

BTW,  Jim Willie is a blowhard whose been making up doomy problems and solutions which never come to pass for 20 years.

 

Setarcos's picture

Yes silver has a lot of uses, e.g. electronics and even photography still I suppose.  As for Jim Willie being a blowhard?  I don't personally think so, or less of one than many other pundits, amongst whom I'd include, to some extent or other, such as Jim Rickards, Gerald Celente and especially Max Keiser.  There's a myriad more or less parasites who, like priests of old, get a large following willing to hand cash over.  I do know one thing, I don't know of many who have ever had a real job in the real economy of manufacture, engineering, building, etc., (I have btw) though many will bewail the lack of productive jobs these days.  Then there are all the bimbos on TV talk financial shows!!

Gen. Ripper's picture

I recommend tulip bulbs

Golden Phoenix's picture

Gold bugs are going to be fapping themselves raw over this one. Don't get me wrong, I hope they finally get what they've been waiting for. Everbody's just seeking shelter from the USD in one way or another.

echoes's picture

You cant cry wolf, after you've been outed as a gold hustler for last 5 years. Noone's buying your bullshit anymore, go sodomize Bo Polny.

Clock Crasher's picture

+10

I had not checked up on Bo for about a year.  I went over to his youtube channel and had a look at the thumb nails of all his uploads.  Here are the titles starting from 8 months ago.

Dow 20,000 Then Shock!

The Trap Is Set December 2016

2017 Loss of Control Jan Feb March

Global Reset 2017

Gold Silver EXPLOSION

you get the idea

A bunch of Bitcoin to the moon videos too

 

SmittyinLA's picture

I guess that makes GDX "the buy of the millenium"

umdesch4's picture

Yup, and who knows, maybe JNUG will be worth something again some day. I'm hanging on to a bit of it, just in case...

Conscious Reviver's picture

Watch it. Paper fraud is pervasive. Just ask Jon Corzine.

Pendolino's picture

Monkeys COULD fly out my ass too.

LastLegion's picture

Were you in the Wizard of Oz?

ali-ali-al-qomfri's picture

may I offer some ancillary purchases to go along with your gold; like a canoe,

water craft are really hot right now.

altairmorbius's picture

Or Rickards will quit writing and quit his job?

idontcare's picture

He's due to put out another book any time now so he's gotta keep his name out there for a little while longer.

Silver Savior's picture

Why is gold all of a sudden in Vogue? I thought nearly everyone in the West hates it and they keep saying you can't eat it and shit like that? Everyone having second thoughts on those ridiculous statements? 

Don't want to be a clown and miss out on musical chairs? lol 

Anarchyteez's picture

For once I'd like him to be right.

But on the flipside all the derivatives would explode and bring hell and chaos.

gdpetti's picture

Yes, as the PMs are always the last game in town... the writing is on the wall.... slowly the invisible ink is revealing itself... but the OWO is meant to collapse in preparation for the NWO... same cast of characters, only the game is different... no need for all this OWO market stuff.... so they can monkey the helll out of all of it until they get their cue to 'pull the rug out'... it's all fake, all engineered... as long as they can maintain control of the equation... and that is the question.

One good suggestion for those playing the crypto market would be to do the usual % profit taking and put it in this old standby of the PMs... unless you want to play this game of musical chairs through the end.

Jungle Jim's picture

To paraphrase the late artist formerly known as Prince, o/` This is what it sounds like when pigs fly. o/`

http://orig00.deviantart.net/807a/f/2015/029/4/7/flying_pig_gif_by_hugs4...

silverer's picture

Why hold back? He's saying exchange 10% to 15% of your fake money for real money. Why wouldn't you want to hold as much gold and silver as practical? It's your money and it's not fake money, and the bank can't bail it in (never put it in a safety deposit box). You exchange your silver or gold for fake money as needed by stupid people that continue to deal in fake money.

EnragedUSMCExpat's picture

Let the naysayers squeal, they will be the ones living in cardboard boxes when the shit hits the fan. Holding physical silver and gold isn't about investment profits - it's now all about survival. They can use their bullshit fiat money to light trashcan fires to keep warm.

darkstar7646's picture

That kind of a reset (and everything happening immediately as a result) kills 1/2 to 3/4 of this country.

Don't get me wrong:  That's exactly what the Rethuglipigs want.

This is just more goldbug bullshit playing into a government confiscation event.

Consider:  For this to work, Trump pretty much has to take out most of the military infrastructure, starting with his Defense Secretary.

EnragedUSMCExpat's picture

The only reset will be the eradication of the snowflakes, antifa cowards and their LGBT sycophants. American patriots have had it up to the gills with their bullshit, and when it blows bulldozer operators will be 100% employed. Politics will have zero impact on this event - lead, the other heavy metal, will be calling the tune.

Here in Indonesia when I see gold being snapped up by the bucketload by grandmothers there is a reason for it, an ancient reason that is as inescapable as the sun rising in the East and a stark harbinger of events to come.

By all means, ignore the warning signs as many will. Try purchasing food, antibiotics, guns, ammo with fiat paper when the lights go out. That is when the folly of your fantaasies will collide head-on with reality and it will by then be far and away to late to change course. I'll give you around 72 hours, at best.

 

NukeChinaNow's picture

You lost me at rethuglipigs. Like YOUR ilk are all that's decent and desireable. lmfao.

I may be on the news one day for mowing down grass and weeds.

Silver Savior's picture

Something is not right. So if you are that certain gold is going to 10k an ounce next year then wouldn't you just load up on gold and forget stocks all together? But no you are still recommending a puny 10% allocation in metal but gold is going up by 8x. WTF? 

Then he goes on to say you should buy more gold than silver. But there is less physical silver available for investment than gold and silver is at a steal compared to gold. Is this guy a  permanent rookie?

Winston Churchill's picture

Indeed, the exspurt doesnt even know the difference between pledged gold and gold.

The IMF figure is the pledged by members, not in a separate vault.

stant's picture

So when the tanks come back to ft knox it won't be to protect the gold but to keep anyone from finding out there's nothing left but  coin melt

Conscious Reviver's picture

Re. but coin melt.

If that.

The leftovers from the great FDR gold heist.

DjangoCat's picture

Munchkin went in and saw a few gold bars and said the gold was there.  Maybe not.  If Trump pushes for a return to gold, he may find there is very little in the vault.  That would be a boo boo.

Canada has sold off all its gold.  Britain doesn't even make the list above. 

So I don't see TPTB opting into gold.  They may not have any.

Conscious Reviver's picture

According to Willie last year the US turned down an offer to lease tons of gold cheap ... to make up for the fact that the US doesn't have anymore besides that brick Mnunchkin is seen holding. Instead, they wanted one more year.

Yars Revenge's picture

I like bold predictions with short time horizons.

NukeChinaNow's picture

Ain't man/bear/pig the King of same?