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.

Willem Middelkoop

(author - The Big Reset)

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"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."

. . . . 

Clearly gold is making a remarkable comeback to the world financial system. A new gold standard is being born without any formal decision . . . . ."      click here to read the full article



Added note: Willem posted this news about France calling for a monetary system reset on his Twitter page

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Expert reaction:

I had a brief email exchange with Willem related to his new article. Many readers (and myself) have noticed the recent sharp move up in gold allowing it to break above key resistance price points that have been in place for several years. I asked Willem if this may be a signal that another bigger up leg in the price of gold is coming? He offered  this comment on that question:

"Wouldn’t surprise me at all"

So we will keep an eye on the gold market over the coming months to see if a new major uptrend has begun and also if that indicates other changes may be coming our way in the overall monetary system. As always, time will tell us the answer. 

Keep in mind that both Jim Sinclair and Ray Dalio have also recently said they see a "reset" or paradigm shift coming including much higher prices for gold which we noted in this recent article.