Invitation for discussion: What will become of the world economy upon which our future depends? Will it break apart, or develop further? What will happen to the relationships between the USA, EU, BRIC and other emerging nations? What will become of the dollar, Euro, Yen and Rimimbi? The background of the crisis and answers to these questions can be found in this book. (To purchase at a discount click on the cover)
Friday, November 26, 2010
World Bank President advocates global gold standard adoption
On Nov. 7th, President of the World Bank, Robert Zoellick, suggested that leading economies should return to the gold standard. (Financial Times) This is not a great idea. Not only would the deflationary trend be aggravated, but the world monetary system would be derailed from an extension of the Special Drawing Rights system of the IMF as a solution,which Keynes suggested in 1944 (see Chapter V of forthcoming book, Brave New World Economy). -- R.A.I.
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