- Infowars - http://www.infowars.com -

World Bank Boss Zoellick Calls for International Gold Standard

Posted By kurtnimmoadmin On November 8, 2010 @ 12:16 pm In Economic Crisis,Old Infowars Posts Style | Comments Disabled

Alan Beattie
CNN
November 8, 2010

  • A d v e r t i s e m e n t
  • {openx:49}

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.

Fresh food that lasts from eFoods Direct (Ad)

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.”

Read entire article


Article printed from Infowars: http://www.infowars.com

URL to article: http://www.infowars.com/world-bank-boss-zoellick-calls-for-international-gold-standard/

Copyright © 2013 Infowars. All rights reserved.