World Bank: World Bank chief suggests return to gold standard

[Matt Collins]

LONDON -- Ahead of the inevitable debates over currencies at the G-20 meeting in South Korea this week, the World Bank's president has put in his two cents over how best to reform the global currency markets: the world's leading economies should at least consider readopting a gold standard.



In a commentary piece in Sunday's Financial Times, Robert Zoellick laid out five effective reforms, and added that a new system, "should also consider employing gold as an international reference point of market expectations about inflation, deflation and future currency values. Although textbooks may view gold as the old money, markets are using gold as an alternative monetary asset today. "

READ MORE HERE:
http://www.forbes.com/2010/11/08/go...markets-currencies-g20-dollar-world-bank.html

 

[sevin]

I'm beginning to suspect this has been the plan all along. The right-wing media has been pushing gold like crazy lately, and when the dollar collapses people are going to demand a solution. A worldwide central bank with a partial gold standard might seem like a very attractive solution to most people. But can't the price of gold can be manipulated so that they would still be able to inflate?

 

[Travlyr]

It does look intentional.
When was the last time the Fed Chairman told us their intended move prior to the meeting?

 

[ktorp18]

If it's a partial gold standard, then there is no point in tying gold in at all. There already was a worldwide gold currency that was doing pretty well and the feds shut it down. (e-gold)

 

[PatriotOne]

My question is who has all the gold now? I suspect the very banks who has put us in this position in the first place (including the Vatican bank). Granted I am quite economically challenged and don't understand near as much as many people on this board concerning this subject but I do suspect whoever has the gold wins in this scenario. And who's to say they won't do the same thing they did in the past with the gold.

Odd that this is coming up now because it is something that has been crossing my mind quite frequently this past month. Maybe someone can educate me why this isn't an issue or where all the gold is?

 

[Jordan]

There already was a worldwide gold currency that was doing pretty well and the feds shut it down. (e-gold)

In the Fed's defense, e-gold was used for some really, really, really, really, shady things. Lots of money laundering, sales of credit card numbers, bank account information, and even kiddy porn were conducted with the not-as-anonymous-as-it-was-pitched, e-gold.

 

[Kotin]

Well that is a bit disconcerting..


I think that we should make the distinction between competing currencies and a gold standard.. And promote the former..

 

[sevin]

Well that is a bit disconcerting..


I think that we should make the distinction between competing currencies and a gold standard.. And promote the former..

Exactly. Seems like a lot of libertarians and tea-partiers have this idea that a gold standard is the way to go, but if you want true freedom then you want competing currencies.

 

[devil21]

They can still produce plenty of fake gold (tungsten) and load up the vaults with it and claim "See! There's all the gold! Now we can inflate this gold backed currency too!"

Always assume that the international bankers have figured out how to manipulate the system to their favor well in advance. I bet they've been buying up tons and tons of real gold and silver with all the printed money (all these new trillions have to go somewhere!) and producing tons of fake metals to show the public to justify the inevitable inflation that will go along with the new system. I wouldn't be surprised if the new global currency (SDR?) is tied to a basket of commodities like gold and oil, instead of fiat currencies. The only question is how can they manipulate those commodities in order to retain control of the global financial system while still gaming the system to make you poorer. Any centrally controlled currency will always result in you losing your purchasing power. This is indeed why competing currencies are necessary.

 

[puppetmaster]

I'm beginning to suspect this has been the plan all along. The right-wing media has been pushing gold like crazy lately, and when the dollar collapses people are going to demand a solution. A worldwide central bank with a partial gold standard might seem like a very attractive solution to most people. But can't the price of gold can be manipulated so that they would still be able to inflate?

plain and simple....this IS the plan, and the sad part is we will beg for it.

 

[tpreitzel]

Of course as long as the gold backs an international currency ...

 

[Marenco]

Check out this prophetic warning from the Money Masters.

''Our country needs a solid group, who really understand how our money is manipulated and what the solutions really are.
Because if a depression comes there will be those who call themselves conservatives who will come forward advancing solutions framed by the international bankers.
Be aware of calls to return to a gold standard.
Why?
Simple, because never before has so much gold been so concentrated outside of American hands.
And never before has so much gold been in the hands of international governmental bodies such as the World Bank, and the International Monetary Fund.
In fact the IMF now holds more gold than any central bank.
A gold backed currency usually brings despair to a nation.
And to return to it, would certainly be a false solution in our case.
Remember we had a gold backed currency in 1929 and during the first four years of the Great Depression.
Likewise, be aware of any plans advance for a regional or world currency, this is the international bankers Trojan Horse.''
- Bill Still

 

[LibertyEagle]

Bill Still, of Money Masters fame, LIKES fiat currency. Please keep that in mind.

I do, however, agree that a world currency has been the plan all along. FrankRep has been posting articles on this for a very long time. Here's one of the latest: http://www.ronpaulforums.com/showthread.php?t=267917

 

[Austrian Econ Disciple]

Denationalize Money! The Government should have zero role in monetary issues whatsoever. Zilch, nada, zero. Settle for nothing less.

 

[devil21]

Denationalize Money! The Government should have zero role in monetary issues whatsoever. Zilch, nada, zero. Settle for nothing less.

The US Constitution disagrees with you.