World Bank president Robert Zoellick Calls for a Gold Standard

 In Op-Ed piece in the Financial Times, World Bank president Robert Zoellick says that current system of floating currencies established by the 1971 Bretton Woods II system, has broken down. He says that it is time to look to a new international system of commerce, one which "is likely to need to involve the USD, the Euro, the Yen, the GBP and (Yuan) that moves toward internationalization and then an open capital account." He added: "The system should also consider employing gold as an international reference point of market expectations about inflation, deflation and future currency values."

Well this is a start, but I don't see the Bric countries agreeing to this framework because it includes fiat currencies. Look the reason for changing the current systems is because Bric countries are losing faith in the fiat currencies so why would they agree to have them in the basket. I think it will need to include some other commodities for this to fly.