Consider Gold in Overhaul of Bretton Woods, World Bank Head Writes in FT

By John Simpson
Bloomberg
Nov. 08, 2010

To quote Joe Biden, "This is a big F&%$ing deal!"

That said, it's almost %100 that nothing will come out of it. It's not in ANY government's best interest to have a gold standard (at least, not a real gold standard with 100% reserves).

The power of the printing press is every government's most prized possession. They won't give it up and you can be sure they'll use it until it's worthless and then try to resurrect the scam again.

I do think it's possible that perhaps they will suggest a world currency with partial gold backing just to give it some allure. Anything less than 100% backing is a fraud. Even if they said 100% gold-backing, while that's theoretically better, it's still a fraud because they would just ditch it after a few years. Governments shouldn't control money, the private sector should and it should be an open market.

Governments can't be trusted to run trash pickup nor the mail, they cannot be trusted to control our money supply. - ChrisThe development of a monetary system to follow on from 1971’s Bretton Woods II will take time, but it’s time to start, World Bank President Robert Zoellick writes in the Financial Times.

Full Story