....and why would 'they' opt to reprice gold overnight?
Would simply repricing gold, repudiate all the debt obligations of the US government or something?
Am I missing something here?
Well, when you enter deflation it's because of two things, lack of liquidity and unserviceable debt. Repricing gold would theoretically lower the debt obligation while also having a sort of helicopter money type of effect to raise the currently low money velocity.