"..."The [world's monetary] system should consider employing gold as an international reference point of market expectations about inflation, deflation and future currency values," writes Robert Zoellick – president of development lender the World Bank – calling for some element of a return to the Gold Standard in today's Financial Times.
Setting out a 5-step package "to address the fundamentals of growth" worldwide, Zoellick says that "Although textbooks may view gold as the old money, markets are using gold as an alternative monetary asset today."
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