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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

Alan Beattie
Financial Times
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 [1], 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.”

Full article here [2]

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Zoellick seeks gold standard debate 140410banner4 [4]

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URLs in this post:

[1] Writing in the Financial Times: http://www.ft.com/cms/s/0/5bb39488-ea99-11df-b28d-00144feab49a.html#axzz14dKEeR16

[2] Full article here: http://www.ft.com/cms/s/0/eda8f512-eaae-11df-b28d-00144feab49a.html#axzz14gxDGbyk

[3] Having A Supply Of Healthy Foods That Last Just Makes Sense (AD): http://www.efoodsdirect.com//index.html?aid=14&adid=43

[4] Image: http://infowars-shop.stores.yahoo.net/post4rioffe.html

[5] Today Is The 40th Anniversary Of Nixon Ending Gold Standard And Creating Modern Fiat Monetary System: http://www.prisonplanet.com/today-is-the-40th-anniversary-of-nixon-ending-gold-standard-and-creating-modern-fiat-monetary-system.html

[6] Zoellick urges G20 to heed gold price: http://www.prisonplanet.com/zoellick-urges-g20-to-heed-gold-price.html

[7] 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

[8] 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

[9] 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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