Sunday, November 7, 2010

World Bank President Calls for a Role for Gold in a New International Monetary System

Insider and World Bank president Robert Zoellick is calling for a role for gold in an international monetary system.

I'm not sure what to make of this. My best guess is that the global elite are running scared and fearful that the world may be turning toward a gold standard that may leave the elites' paper money in the dust.

In a commentary for FT, Zoellick writes that a new co-operative monetary system must be built. He says the new system needs to involve the dollar, the euro, the pound and the renminbi but adds that the system should also consider employing gold as "an international reference point of market expectations about inflation, deflation and future currency values." He added, "Although textbooks may view gold as the old money, markets are using gold as an alternative monetary asset today."

Keep in mind this is coming from a total insider.

Zoellick signed the January 26, 1998 neo-con letter to President Bill Clinton from the Project for a New American Century that advocated war against Iraq.

Zoellick has been World Bank president since June 2007 and prior to that was a managing director of Goldman Sachs. He was also counselor to James Baker, when Baker was Treasury Secretary. During the disputed Bush/Gore presidential election, Baker designated him as his second-in-command—"a sort of chief operating officer or chief of staff"—in the 36-day battle over recounting the vote in Florida.

Zoellick is clearly in the Bush global domination camp. It is not clear what his purpose is in calling for a role for gold. It may be some rear action type move to dilute the growing significance of gold in the eyes of investors.

By calling for a role for gold, while at the same time calling for inclusion of the dollar, the euro, the pound and the renminbi, in a new international monetary system, it may be a desperate move by the global banking elite to head off a move toward a full international gold standard.

What is clear is that the elite no longer feel it is safe to simply ignore gold.


  1. Zoellick's statement is tremendously significant, and likely indicates that the international financial system is well into the terminal phase.

    Your observation that this likely constitutes a rear-guard action is quite astute.

    He is as insider as insider gets and would not be promoting such ideas without another agenda.

  2. It seems that the senior capital pools have already planned for the gold scenario and will ditch the dollar along w the US whenever they feel Asian consumers can pick up the slack. How do we peacefully beat these greedy control freaks, e.g. banksters?

    Ending the Fed and letting some institutions go bankrupt still keeps these senior pools in power.