Trump And A New Gold-Backed Dollar?

• Trump And A New Gold-Backed Dollar
  by Nick Giambruno, Senior Editor, http://www.internationalman.com/
  On August 15, 1971, President Nixon killed the last remnants of the gold standard. Since then, the dollar has been a pure fiat currency, allowing the Fed to print as many dollars as it pleases.
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  Removing the US dollar’s last link to gold eliminated the main motivation for foreign countries to store large dollar reserves and to use the dollar for international trade. 
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  At this point, demand for dollars was set to fall… along with the dollar’s purchasing power. So the US government concocted a new arrangement to give foreign countries another compelling reason to hold and use the dollar. The new arrangement, called the petrodollar system, preserved the dollar’s special status as the world’s reserve currency.
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  The death of the petrodollar system is my No. 1 black swan event for 2017.
  It raises the question: What will fill the void when the petrodollar inevitably dies? When that happens—and it may be imminent—something has to replace it. I think there are only two options.
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  Naturally, the global elite want to centralize more power into global institutions. In this case, that means the International Monetary Fund (IMF). The IMF issues a type of international currency called the “Special Drawing Right,” or SDR.
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  The SDR is nothing new. The globalists have been slowly building it up since 1969. In the near future, it could be used as the premier international currency—the role the dollar has played since the end of World War 2.
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  The SDR is simply a basket of other fiat currencies. The US dollar makes up 42%, the euro 31%, the Chinese renminbi 11%, the Japanese yen 8%, and the British pound 8%. It’s a fiat currency based on other fiat currencies… a floating abstraction based on other floating abstractions.The SDR is not based on sound economics or the interests of the common man. It’s just another cockamamie invention of the economic witch doctors in academia and government. The SDR is dangerous. It gives the government—in this case, a global government—more power. It’s a bridge to a powerful global monetary authority, and eventually a global currency.
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  The breakdown of the petrodollar is the perfect excuse for the globalists to usher in their SDR solution. So that’s the first option. It’s the global elites’ preferred outcome. It would be a very bad thing for personal and economic freedom. It means more fiat currency, more centralization, and less freedom for the individual.
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  The second option is to simply return to gold as the premier international money. Here’s how it could happen… 
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  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.”
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  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.
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