New Dollar Backed by Gold Coming This October?

• See also:
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  ‘The world is going back to a GOLD STANDARD as the US dollar is about to collapse’ – Peter Schiff
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• New Dollar Backed by Gold Coming This October?
  by GSI EXCHANGE (Sponsored Content), https://www.theepochtimes.com/
  … With most central banks virtually “out of ammo” to counter the deflationary trend in the equities markets, the only viable solution is to … unsurprisingly … extend quantitative easing. With the negative consequences affecting almost every major economy across the globe, the United States is in a particularly precarious situation.
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  And it all comes down to what might happen this October when the International Monetary Fund (IMF) meets, between Oct. 12 and Oct. 18, to revalue its special drawing rights (SDR)—the world’s reserve currency waiting in the wings. Essentially, a new “Bretton Woods” is in the making.
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  A New Bretton Woods Minus the Dollar?
  The IMF’s SDR is a form of “world money,” created in 1969 as an alternative to the U.S. dollar (in case the dollar somehow fails … that was the idea). They were issued on several occasions from 1970 to 1980, but then there were no issues for almost 30 years, until August 2009, which was in response to the last financial crisis.
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  Well, here we go again. The IMF knows that SDRs are unpopular, but they also know the world is desperate for liquidity right now during the COVID-19 pandemic. To exploit this crisis, the elites are thinking big about a new Bretton Woods-style conference, a new international financial system, and a global tax system. SDRs would eventually replace the U.S. dollar as the global reserve currency.
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  So What’s the Immediate Threat, and Trump’s Potential Response?
  The rumor, and big fear, is that the IMF may opt to remove the United States from the global SDR basket, effectively reducing the United States’ veto rights from the world stage. SDRs would then be a step closer to replacing the greenback as the world’s reserve currency.
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  Considering the potential damage that the Fed’s QE will inflict on the dollar, weakening its status as the world’s currency, the potential IMF move toward replacing greenbacks with SDRs would cause a massive devaluation of the dollar, possibly up to 80 percent. As much as President Trump has been influencing Fed actions (despite the bank’s statement to the contrary), having pressured their 180-degree turn from raising to cutting rates amid a balance sheet reduction, President Trump has never been a fan of the Fed.
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  With the Fed pledging to load up its balance sheet, and with the nation’s debt skyrocketing to heights unprecedented, it seems as if the bank and nation would be heading toward a state of insolvency. But this is where things get interesting.
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  With the IMF attempting to pull off a fiscal reckoning minus the U.S. dollar, President Trump may (as his adviser Judy Shelton has advocated and as President John F. Kennedy tried to do in 1963) pull off a global reckoning of his own, by issuing U.S. Treasury notes backed by gold.
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  The new dollars would be pegged to gold, possibly at a modest starting point of $10,000 or even higher, effectively returning the gold standard.
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