- Willem Middelkoop: Towards a New “De Facto Gold” Standard
Author Willem Middelkoop has long offered commentary on the prospects for major monetary system reform including his book on the subject, “The Big Reset“. In this recent article published on the OMFIF web site, he says we may be seeing a new unofficial gold standard being adopted even though no nations are moving towards adopting an official gold standard.
Willem is an OMFIF (Official Monetary and Financial Institutions Forum) Adviser (see Industry and Investment section). Below are some excerpts from his article.
“Last year, 22 central banks, situated largely to the east of Germany, bought the largest amount of gold since 1967, the year the London Gold Pool collapsed. The gold repatriations by many European countries of the last few years are another sign that we are reaching the end of four decades of monetary calm. This could bring about the largest monetary changes since the closing of the gold window by US President Richard Nixon in 1971.
The US wants its fiat dollar system to prevail for as long as possible. It has every interest in preventing a ‘rush out of dollars towards gold’, as happened in the 1970s. Since then, bankers have been trying to exercise control over the precious metal’s price. This war on gold has been ongoing for almost 100 years, but gained traction in the 1960s with the forming of the London Gold Pool – whose members included the US, UK, Netherlands, Germany, France, Italy, Belgium and Switzerland.”
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Clearly gold is making a remarkable comeback to the world financial system. A new gold standard is being born without any formal decision . . . . .”
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