Europe Is Finalizing Preparations for a Gold Standard

• Europe Is Finalizing Preparations for a Gold Standard
  by Jan Nieuwenhuijs, https://www.moneymetals.com/
  Countries outside the eurozone but inside the European Union, i.e., those that one day might join the eurozone—like Poland, Hungary, and the Czech Republic, are positioning for a new gold standard.
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  To prepare for a monetary system based on gold, they are buying gold to equalize their reserves to the eurozone average. This balancing of gold reserves in Europe is a key topic I have written about extensively. And now, additional evidence of these plans has come out, this time from Konrad Raczkowski, former Minister of Finance of Poland.
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  Raczkowski recently argued official gold reserves in Europe must be evenly distributed relative to GDP, which “in the near future … will be the new gold standard.” His statement adds to a vast body of proof regarding Europe’s preparations for a gold standard.
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  As the United States, issuer of the world reserve currency, has arrived at a critical phase in its debt spiral and as geopolitical tensions keep mounting, it’s of paramount importance we evaluate what gold’s role will be in the international monetary system moving forward.
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  Gold Is Central Banks’ Plan B
  Most of the largest central banks have a “Plan B” when their paper policy goes haywire, and this backup plan is, to a certain extent, coordinated between them. The first seeds of Plan B were planted by European central bankers and politicians in the 1970s. Only the U.S., together with some of its most obedient vassal states, has been unwilling to cooperate.
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