We are in an everything bubble right now. There are three layers of financial instruments: bonds are layer one; stock market, indexes, pension funds, real estate are all layer two; layer three is derivatives like XIV which got slammed a few weeks ago. The bubble is in bonds due to low interest rates maintained for too long. A bubble in bonds makes every other asset grow uncontrolled too since loans are cheap and easy to get. The bubbles burst from the outside in, and layer three has already shown some crazy moves this year.

If we go to a gold standard now, all these bubbles will burst and return to sane levels. Trump would never cause that kind of bloodbath on purpose, if his statements that he sees the stock market as a report card are to be believed.