From Sunshine Profits:

Donald Trump officially confirmed that he wants to return to the gold standard. What does it mean for the precious metals market?

Breaking: Donald Trump declared at the summit of G20 that the United States will come back to the gold standard from 2021 – exactly 50 years after President Nixon closed the gold window. “We will make our currency gold again”, he said at the special press conference.

It’s a real game changer, but it should not be shocking for our readers. We have signaled such a probability in February, when we wrote that some of Trump’s closest advisers are supporters of the gold standard. However, we underestimated the likelihood of that outcome, but it’s real. The most important quote from Trump’s speech on the gold standard is as follows:

“It’s huge. Other countries are ripping us left and right. They manipulate currencies, oh, they do, really do! The euro, yen, yuan – they are fake currencies! We have to rebuild our monetary system, which was corrupted by banksters from Washington D.C., totally disaster. But now by restoring the gold standard – you know that I always loved gold, it’s a beautiful metal – we are transferring power from Washington, D.C. – which is built on swamp – and giving it back to you, the people. From this day forward, a new vision will govern our land. From this day forward, it’s going to be only sound currency”.

Importantly, Trump has declared that the U.S. government confiscated the Mexican gold held at the Fort Knox. “It’s necessary to introduce the gold standard”, he said. “And I told you that they will pay, and they did pay indeed, folks”, he added. And by appropriate setting the exchange rate between the U.S. dollar and gold, the new administration is expected to raise funds to radically cut the public debt.

The implications are huge. It’s been revealed that the biggest investment bankers’ analysts are quickly sending memos (supposedly entitled TODAMOON) to their wealthiest clients urging them to buy gold before the news spreads. Do we agree? We definitely would love to agree, but there’s one big problem – none of the above is real and it’s just our April 1st financial fantasy. Gold is likely to soar in the coming years even without being used as a backing for any currency, however, more short-term outlook is not as promising.