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Zoellick seeks gold standard debate
Posted By admin On November 8, 2010 @ 5:06 am In Featured Stories,World News | Comments Disabled
Nov 8, 2010
Leading economies should consider readopting a modified global gold standard to guide currency movements, argues the president of the World Bank.
Writing in the Financial Times , Robert Zoellick, the bank’s president since 2007, says a successor is needed to what he calls the “Bretton Woods II” system of floating currencies that has held since the Bretton Woods fixed exchange rate regime broke down in 1971.
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.”
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URLs in this post:
 Writing in the Financial Times: http://www.ft.com/cms/s/0/5bb39488-ea99-11df-b28d-00144feab49a.html#axzz14dKEeR16
 Full article here: http://www.ft.com/cms/s/0/eda8f512-eaae-11df-b28d-00144feab49a.html#axzz14gxDGbyk
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 Zoellick urges G20 to heed gold price: http://www.prisonplanet.com/zoellick-urges-g20-to-heed-gold-price.html
 BoE Finds Gold Standard Leads To Less Crises Than Fiat Regime: http://www.prisonplanet.com/boe-finds-gold-standard-leads-to-less-crises-than-fiat-regime.html
 World Bank President: My Words Were Manipulated, I Don’t Support A Return To The Gold Standard: http://www.prisonplanet.com/world-bank-president-my-words-were-manipulated-i-dont-support-a-return-to-the-gold-standard.html
 Did China Just Fire The First Salvo Towards A New Gold Standard?: http://www.prisonplanet.com/did-china-just-fire-the-first-salvo-towards-a-new-gold-standard.html
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