Construction of the World Bank called for a new gold standard of gold and silver high Qi.

<P> World Bank President Robert Zoellick wrote 8 in the foreign media, called for major economies to consider the reintroduction of the improved gold standard monetary system, to provide guidance for the exchange rate changes. .Asian trading day, spot gold prices once again refresh the record highs and silver prices to follow suit and hit a 30-year high. .</ P> <P> "Bretton Woods II" should be replaced </ P> <P> Zoellick, wrote in the foreign media, since the Bretton Woods fixed exchange rate system since the collapse in 1971, has been implemented so-called "Bray .Bretton Woods System II "floating exchange rate system, the need for a successor. .He said the existing system in the formation of a new monetary system will take time, but it is time to start building such a system has. .</ P> <P> according to Zoellick's initiative, the new system "may need to include the U.S. dollar, euro, yen, pound sterling, and internationalization, and then open the capital account of the RMB." .In addition, Zoellick also said the system should also consider gold as an inflation, deflation and market expectations of future monetary value of the global reference point. ."Although the textbook may be the gold called 'old coin,' but today's market it as an alternative monetary asset." He said, restoring the currency was pegged to gold, "practical, feasible, and not extreme." .</ P> <P> Thursday, the summit of the Group of Twenty, and the APEC summit will be convened, the foreign media expected the exchange rate will be the leaders of conflict the focus of one of the topics. .Previously, the United States requests the current account target countries signed the plan has met widespread opposition. .</ P> <P> Zoellick proposed that the major economies should agree to give up the exchange rate intervention, except in rare cases to obtain the consent of other countries to intervene. .These actions will help the emerging economies through the adoption of flexible exchange rates and independent monetary policy to respond to the recovery does not balance. .</ P> <P> However, some analysts have expressed different views. .Overseas media reported that, although from time to time someone called for a monetary value of gold as the benchmark, but most policy makers and economists believe that this approach may lead to excessive tightening of monetary policy, and to the economic impact of growth and unemployment .effects. .</ P> <P> "Bretton Woods system" refers to the U.S. dollar after World War II as the center of the international monetary system. .The implementation of the system directly linked to the dollar and gold and fixed exchange rate system. .In 1971, the U.S. dollar and gold-linked system failure, followed the collapse of the Bretton Woods system, which also announced a floating exchange rate era. .</ P> <P> gold record high </ P> <P> Zoellick favored for gold is not unreasonable. .Spot gold hit 8 Asian trading record of $ 1,398.35 an ounce, a new high, silver prices rose to follow suit, hitting $ 26.98 an ounce, a 30-year high. .</ P> <P> the Fed's 600 billion U.S. dollars last week announced plans to buy treasury bonds, and held in Seoul this week, the Group of Twenty nations summit currency imbalances may be expected to start debate, so that safe-haven appeal of gold is reflected .. .</ P> <P> according to Thomson Reuters released a survey, the gold record high this wave of frequent gains expected to last at least 6 months, which also happens to cover the Fed's monetary stimulus plan implementation period. .Two-thirds of the respondents thought that the medium term, gold will be between 1400-1500 U.S. dollars per ounce peak. .RBC Asset Management's chief institutional strategist Myles Cibu Locke this view, the price of gold rose to within three years may be $ 3,800 an ounce. .</ P> <P> "quantitative easing, the dollar depreciated, so the gold and almost all goods will benefit, as people began to shift from financial assets, goods, that with the continued printing money, goods will be more practical and reliable asset." Standard & Poor's .stocks and metals analyst Leo Larkin said. .</ P>.