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A theory is appropriate as long as it fits into the fact; when a theory doesn't fit in the fact, it's wise to walk with the fact.

Thursday, November 11, 2010

Does Gold come back as new international currency?

As the World Bank President, Mr. Robert Zoellick suggests in the Financial Timesit might be time for a new international system of adjustable exchange rates that would use gold as a reference point for inflation and currency values. 

Coming from one of the most influential policymakers in the globe, does this make any reliable sense?

For those, who want to know the history of Gold as a currency standard, this link is useful. 

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