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November 10, 2010
Brattle Senior Advisor Mark T. Williams Authors Foreign Policy Opinion Piece Opposing a Modified Gold Standard

Mark T. Williams, a senior advisor to The Brattle Group, authored an opinion piece opposing the use of a modified gold standard for currency in the November 10, 2010 issue of Foreign Policy. In the face of the G-20 meeting in South Korea and mounting fears of further economic turmoil, World Bank President Robert Zoellick has proposed a plan to institute a modified gold standard based on the dollar, euro, yen, pound, and renminbi. Mr. Williams describes this movement as a “fool’s errand,” warning that gold’s current high value is a sign of a bubble that took six years to peak, and is near to bursting. He discusses the likely drop in gold prices once stocks and bonds begin their rebound, and references the last gold bubble, in 1980, whose end brought gold prices down 60 percent in a single year. According to Mr. Williams, “the Fed needs to address concerns about inflation and balance that with real job growth,” to ensure economic and financial recovery. For more information, please visit the Foreign Policy website.

Mark T. Williams
Academic Advisor
Boston University
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