|
World bank president seeks gold standard debateFinancial TimesNov. 07, 2010 |
Popular 
Rep. Randy Fine: Pro-Palestine Movement Are 'Demons' Who 'Must Be Put Down by Any Means Necessary'
ADL Responds to DC Shooting With Call to Deplatform Twitch Streamer Hasan Piker
Israeli PM Netanyahu: Trump Told Me 'I Have Absolute Commitment to You'
Trump Confronts South African President on White Genocide
CNN: U.S. Officials Say Israel Preparing Possible Strike on Iran
|
 Leading economies should consider readopting a modified global gold standard to guide currency movements, argues the president of the World Bank. [...] Mr Zoellick, a former US Treasury official, calls for a system that “is likely to need to involve the dollar, the euro, the yen, the pound and a renminbi that moves towards internationalisation and then an open capital account”. He adds: “The system should also consider employing gold as an international reference point of market expectations about inflation, deflation and future currency values.” [...] "The scope of the changes since 1971 certainly matches those between 1945 and 1971 that prompted the shift from Bretton Woods I to II," Mr Zoellick writes. "Although textbooks may view gold as the old money, markets are using gold as an alternative monetary asset today." Read More |
