To: elmatador who wrote (13491 ) 4/27/2025 8:52:49 AM From: E_K_S 2 RecommendationsRecommended By
Read Replies (2) | Respond to President Trump has mentioned the "golden age" in public remarks about 14 times during the last 100 days, averaging roughly once per week since his inauguration. Notable ExamplesJanuary 20, 2025: Inaugural Address - "The golden age of America begins right now" 5 2 .March 4, 2025: Address to Congress - "Six weeks ago, I stood under the Capitol dome and proclaimed the start of America's Golden Age" 3 .March 2025: End of Congressional Address - "the golden age of America has only just begun" Transitioning the U.S. to a gold-backed dollar would require coordinated policy shifts, legislative action, and systemic restructuring. Phase 1: Executive Action (2025–2026) Gold Reserve Audit Conduct a full audit of Fort Knox and Federal Reserve gold reserves (8,133 metric tons) to verify holdings and assess market-value gaps (booked at $422/oz vs. ~$2,000/oz market price) 4 6 . Likely led by Treasury Secretary Scott Bessent, with private-sector partners like Elon Musk proposing blockchain-based verification 4 . Presidential Commission on Monetary Reform Establish a Gold Commission (mirroring Reagan’s 1981 initiative) to recommend:Optimal gold-to-dollar ratio (historical precedent: $35/oz in 1933 vs. potential $10,000/oz today) 1 6 . Transition framework for partial or full gold convertibility 3 5 . Gold-Bond Pilot Program Issue 50-year Treasury bonds convertible to gold at maturity, as proposed by Judy Shelton. Initial offering: $50 billion, leveraging Fort Knox reserves to test investor appetite and price stability mechanisms 2 4 . Phase 2: Legislative & Federal Reserve Overhaul (2026–2027) Gold Standard Restoration Act Legislation mandating gradual gold backing for M1 money supply (currently $2.1 trillion vs. $400 billion gold value at $2,000/oz) 1 3 . Key provisions:Redefine the dollar as 1/1000th of an ounce of gold (˜$2,000/dollar initially). Require 40% gold backing for new currency issuance 5 7 . Federal Reserve Restructuring Strip the Fed’s dual mandate (employment + inflation), focusing solely on price stability 5 . Ban Fed purchases of mortgage-backed securities and corporate debt 5 . Transition the Fed into a “gold reserve custodian” role 1 4 . Phase 3: Systemic Transition (2027–2028) Dual-Currency System Introduce parallel gold-backed and fiat dollars, allowing markets to adjust gradually 3 6 . Set fixed exchange rates between gold-backed dollars and Federal Reserve Notes (e.g., 1:1 initially) 3 . International Coordination Negotiate with BRICS nations to recognize gold-backed dollars in trade settlements, countering their gold-CBDC initiatives 6 7 . Leverage IMF Special Drawing Rights (SDRs) to integrate gold into global reserves 6 . Technical & Political Challenges Valuation Volatility : Gold’s market price fluctuates daily; a fixed parity risks speculative attacks (e.g., 1960s London Gold Pool collapse) 3 7 .Reserve Shortfalls : Covering M1 would require acquiring ~800 tonnes of gold at current prices-nearly 10% of global annual production 1 3 .Congressional Hurdles : Passing the Gold Standard Restoration Act faces opposition from deficit-spending advocates 1 4 .Fed Resistance : Central bankers like Jerome Powell oppose constraints on monetary flexibility 5 7 .Projected Outcomes Immediate : Gold prices spike (potentially to $3,000+/oz) amid revaluation speculation 6 7 .Long-Term :Annual inflation capped at 1–2% if fully implemented 1 . Reduced government deficit spending (gold limits fiat expansion) 1 3 . Strengthened dollar hegemony but heightened trade tensions with gold-accumulating BRICS nations 6 7 . “Gold convertibility would signal a return to monetary integrity-but getting there requires overcoming decades of entrenched fiat thinking”
