As reported by «Market Leader» (US)
World Bank offers to change dollar for gold. Will it be heard?
Robert Zoellick, the current president of the World Bank, offers to create a new currency system involving USD, AUD, GBP, JPY and CNY (Chinese Yuan) and using Gold as the market guideline.
The world’s biggest banks should think about the new gold standard of managing the currency market volatility, experts of Masterforex-V Academy say. According to Financial Times, it is gold that is used at the markets as an alternative asset.
Discontent with the global currency system is constantly growing around the world, that is why the World Bank has offered to introduce “the Bretton Woods System 2”, Mr.Zoellick says. However, despite economists’ numerous statements in favor of introducing the gold standard most policymakers believe that it will result in introducing extremely tough monetary policies, which in its turn will have a negative impact on the employment and economic growth around the world.