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Worldwide return to gold standard?

Reuters UK interviews John Butler, CIO of Amphora,who predicts a world wide return to a gold (or metal) standard followed by a skyrocketing rise in price up to USD 10.000/oz in his book 'The Golden Revolution'.

See the interview here: http://www.reuters.com/video/2012/04/26/gold-standard-inevit...



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I hope we can return to a gold standard,

Preferably a 1 : 1 ratio like the classical gold pool of the 1870's. BTW I think you meant $10,000/oz. In any regard, if we went back to a gold standard, we will go through devaluation at the same time. Say it takes $10,000 to buy one oz, the money supply would be contracted to make it $100 to buy one oz, all the while that $100 being worth $10,000 of today’s USD's.

“When a well-packaged web of lies has been sold gradually to the masses over generations, the truth will seem utterly preposterous and its speaker a raving lunatic.” – Dresden James