|
World bank president seeks gold standard debateFinancial TimesNov. 07, 2010 |
Popular 
Sen. Hawley: Send National Guard to Crush Pro-Palestine Protests Like 'Eisenhower Sent the 101st to Little Rock'
Mistrial Declared in Case of Arizona Rancher Accused of Killing Migrant Trespasser
AP: 'Israeli Strikes on Gaza City of Rafah Kill 22, Mostly Children, as U.S. Advances Aid Package'
John Podhoretz Demands National Guard Be Sent Into Columbia U to Put Down Pro-Palestine Protests
House Passes $95B Foreign Aid Giveaway to Israel, Ukraine and Taiwan, Combined With TikTok Ban
|
 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 |
