World Bank chief Suggests Return To Gold Standard

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. ”

Forbes USA

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Dean Popplewell

Dean Popplewell

Vice-President of Market Analysis at MarketPulse
Dean Popplewell has nearly two decades of experience trading currencies and fixed income instruments. He has a deep understanding of market fundamentals and the impact of global events on capital markets. He is respected among professional traders for his skilled analysis and career history as global head of trading for firms such as Scotia Capital and BMO Nesbitt Burns. Since joining OANDA in 2006, Dean has played an instrumental role in driving awareness of the forex market as an emerging asset class for retail investors, as well as providing expert counsel to a number of internal teams on how to best serve clients and industry stakeholders.
Dean Popplewell