World Bank President Robert Zoellick Calls For Return To “Old Money” Gold Standard

World Bank President Robert Zoellick Calls For Return To “Old Money” Gold Standard

Source

One of the most serious condemnations of the race to the currency bottom to date comes not come from some peripheral media, but from the head of the World Bank itself, who in a just released Op-Ed in the Financial Times says that since the system of floating currencies established by the 1971 Bretton Woods II system, has broken down, it is time to look to a new international system of commerce, one which “should also consider employing gold as an international reference point of market expectations about inflation, deflation and future currency values.” In other words, welcome back gold standard 2.

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”.

The development of a monetary system to succeed “Bretton Woods II”, launched in 1971, will take time. But we need to begin. The scope of the changes since 1971 certainly matches those between 1945 and 1971 that prompted the shift from Bretton Woods I to II. Serious work should include possible changes in International Monetary Fund rules to review capital as well as current account policies, and connect IMF monetary assessments with WTO obligations not to use currency policies to remove trade concessions.

Nice find!
*S&F*

Now this could be extremely interesting to say the least.
If they wanted to put gold back as a standard they could feasibly create one global currency.
There you have it.
From the top of the food chain.



We're seeing bigger changes now...

Just wonderful, a peg to hang the standard on, and regional monies at first no doubt, then giving way purely digital, but with a base, how lovely the future gleams for our children.
Offfering a gold standard will no doubt confuse and aid in the advancement of the agenda.
Nice find, wonder how long out RZ is looking.

What would be the exchange rate if the gold standard returns?
Would gold and silver become illegal to own except by governments
Countrys would need a supply to back their currencys.
Will america find Fort Knox empty or will america confiscate all gold held in U.S. banks owned by other countries?
If TPTB want to return to the gold standard, there is reason to be suspicious, because there are going to be winners and losers, and I don't see the public benefiting at all.

reply to post by Maslo


Great, now all we need to know is,
Who stole all our frikkin gold????????

reply to post by backinblack


TPTB? Foundation X? If thats the case, they woud still emerge victorious, and then it would be actually more ideal to have not commodity backed currency, but issued by the state without debt (like colonial script). See here
Altrough even gold backed currency would still be better than this central bank status quo.

We need to understand the problem before we can find a solution. The whole world is in this boat and it is up to the whole world to decide how it is going to handle it. Happy researching

www.bibliotecapleyades.net...

My current expectations is that it could take 3 months to a year to sort out. This is just a guess as anything could happen.