*But as Rickards points out quite rightly, it really doesn't matter since the US is going to confiscate it anyway along with the foreign gold holdings in storage in NY Fed to make the plan work.*

And that works just like that, i.e. confiscating foreign holdings?

To me that is similar to nationalizing a foreign asset. You really think there would be no repercussions?

It would be the end of the free market, at least for the US vis-a-vis the rest of the world.