Thursday, July 14, 2011

Return to Gold Standard as World Order unravels

QUOTE: '"It is very scary: the flight to gold is accelerating at a faster and faster speed," said Peter Hambro, chairman of Britain's biggest pure gold listing Petropavlovsk. "One of the big US banks texted me today to say that if QE3 actually happens, we could see gold at $5,000 and silver at $1,000. I feel terribly sorry for anybody on fixed incomes tied to a fiat currency because they are not going to be able to buy things with that paper money."' 

QUOTE #2: 'A new Gold Standard would probably be based on a variant of the 'Bancor' proposed by Keynes in the late 1940s. This was a basket of 30 commodities intended to be less deflationary than pure gold, which had compounded in the Great Depression. The idea was revived by China's central bank chief Zhou Xiaochuan two years ago as a way of curbing the "credit-based" excess.'
Perhaps what is mentioned in that second quote will be the new World Reserve Currency?  China and Russia have been talking about this idea for some time.  Regardless, it's becoming apparent that the Dollar is on its way out and that something is going to take its place.  Maybe this will be it?

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