Home > Global news > Return of the Gold Standard as World Order Unravels

Return of the Gold Standard as World Order Unravels

Friday, 15 July 2011 08:23

‘On one side of the Atlantic, the eurozone debt crisis has spread to the countries that may be too big to save – Spain and Italy – though RBS thinks a €3.5 trillion rescue fund would ensure survival of Europe’s currency union.

On the other side, the recovery has sputtered out and the printing presses are being oiled again. Brinkmanship between the Congress and the White House over the US debt ceiling has compelled Moody’s to warn of a “very small but rising risk” that the world’s paramount power may default within two weeks. “The unthinkable is now thinkable,” said Ross Norman, director of thebulliondesk.com.’

Read more: Return of the Gold Standard as World Order Unravels

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