• The post you are reporting:
   
  The Gold standard may be coming back any time soon:
  In fact, gold is now worth over $1,600 an ounce. During the gold standard, it was worth £35 an ounce.
  This means, it would make sense to use gold to back a currency.
  
  From "Before it's news":
  "Bloomberg's Trish Regan and Adam Johnson interviewed TCW Group's Komal Sri-Kumar and Bank of New York Mellon's Michael Woolfolk about the risks from currency wars on Bloomberg Television's 'Street Smart.' "
  
  "Trish Regan asks whether there is a danger that "we have massive inflation worldwide for years to come?"
  
  The answer is yes and both agree that inflation is a real risk as is a loss of credibility by central banks.
  
  Komal Sri-Kumar is asked what the solution is and is asked about his Op-Ed in The Financial Times in which he calls for a return to a gold standard."
  
  "He replies that a gold standard today would be no different to "how good it was from 1945 to 1971.
  It worked, the world was in prosperity, there was economic growth and there was clearly certainty in terms of what exchange rates were."
  
  "Bank of New York Mellon's Michael Woolfolk says that you could back the dollar with gold as 'the value of gold would have to be astronomically high to back the money supply'."
  
  A gold-backed euro will hopefully lead to a devalued pound, this way our economy would get back on track.

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