Bretton Woods-2 ,,,new gold standard
posted on
Oct 19, 2008 10:15AM
Oct. 19 (Bloomberg) -- European Central Bank council memberEwald Nowotny said a ``tri-polar'' global currency system is developing between Asia, Europe and the U.S. and that he's skeptical the U.S. dollar's centrality can be revived.
``What I see is a system where we have more centers of gravity'' Nowotny said today in an interview with Austrian state broadcaster ORF-TV. ``I see for the future a tri-polar development, and I don't think that there will be fixed exchangerates between these poles.''
Sarkozy wants the G8 to consider re-anchoring their currencies, the hallmark of the 1944 Bretton Woods agreement that also gave birth to the International Monetary Fund and World Bank.
How does one re-anchor a currency,,,,I say with gold
