More Evidence On Riad Salameh’s Prescience

Robert Zoelick, president of the World Bank on how to reform the international financial system:

The system should also consider employing gold as an international reference point of market expectations about inflation, deflation and future currency values. Although textbooks may view gold as the old money, markets are using gold as an alternative monetary asset today.

This has sparked an international debate about going back to the gold standard in finance. Lebanon meanwhile, and at the insistence of our central bank governor, has never left the gold standard.