Interesting proposal but I doubt the World Bank (or any international body) could get unanimous agreement from the G20 participants. Ironically, the one nation that would most strenuously oppose a new form of "Gold Standard" would be the USA.
I expect significant cost based inflation going forward. My suppliers in China have already said that any purchase of cotton based textiles will be quoted on a per order/single delivered container basis. I'm certain this is just the beginning and I've discussed this issue with other manufacturers in my industry and they are all experiencing double digit price increases.
I think we have significantly underestimated how much inflation we'll experience. Of course the official rate is contrived, the real rate will be punishing.
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