Bob Zoellick on monetary reform

If you had asked me to bet in which year the President of the World Bank would recommend that we consider some version of a gold standard, I would have picked the wrong number:

The 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.

Indeed that is 2010 and the full proposal is here.  I feel like I should pay something to somebody, but I am not sure to whom.  Or in which medium of exchange.

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