If the gold standard is to be reinstituted, and the appeal by China and India has the taste and feel, at least in a de facto sense, of a return to using gold as a final means of payment, it will have to be applied fairly and universally. No state should curry favor or somehow nudge their way to the front of the line. In addition, as recently suggested in an article on the gold standard by the Financial Times' Gillian Tett, the price would have to be multiples the current price in order to truly deal with the problem of international dollar imbalances. In the end, all the talk about IMF gold sales might be the catalyst to discovering what really needs to be done to solve the festering monetary problem which has been loosed on the world economy by the present economic crisis.
Full Article.......... http://www.usagold.com/amk/abcs-gold...
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