"The article below was said to be in "sunday's" FT Looks interesting, would be good if you could provide article in pdf form Keep up the good work."

David Fuller's view The original article (link may require subscription registration, PDF also supplied) in question was: "The G20 must look beyond Bretton Woods II", by Robert Zoellich, former president of the World Bank. The mention of gold came in the second paragraph of a 5-point discussion plan for G20. Here is what he said:

"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."


That is all he said about gold and I do not regard it as a milestone statement, as some have concluded. Of course central bankers keep an eye on gold, although they would be unlikely to say so, because they manage fiat currencies. The mention of gold as "international reference point of market expectations" is clearly not a call for a gold standard.

Robert Zoellich's second sentence above is certainly correct. Fullermoney has been pointing out for a number of years that gold was gradually being remonetised in the eyes of investors.