Rep. Mooney's Bill Would Restore Gold Standard, Disclose Gold Transactions
The U.S. Treasury & the Federal Reserve would have 30 months to publicly disclose all gold holdings and gold transactions, after which time the Federal Reserve note “dollar” would be pegged to a fixed weight of gold at its then-market price.
The value of the dollar would have to be pegged to a miniscule weight of gold to avoid the US becoming bankrupt overnight (unless the Fed is secretly stashing a million tonnes of the stuff).
In which case the revalued dollar rate for your gold would be huge in comparison to what you paid.
And since most other currencies are valued against the dollar, they would also be tentitively pegged to gold, hard to say what the details of this shockwave would produce, but cheaper gold is not one of them as far as i can tell.
Don't assume that the US or UK governments will have any say in the matter of Gold's price on the International markets,
BRICS will be setting the price.
I don't, but once the genie is out of the bottle we shall see true price discovery.
It would certainly torpedo Comex.