I suspect deliberately lost is the hectic holiday activities was the release of the Bank of England's Report #13: Reform of the International Monetary and Financial System (An unlucky number for the superstitious). See also the Financial Stability Papers. Perhaps I'm to cynical, however I would translate that title and reports in to "you and I are about to be screwed".
One of the new objectives of the new system (pg. 4) is: "Internal balance - the IMFS should enable countries to use macroeconomic policies to achieve non-inflationary growth." The current Dollar system requires inflation to work, which I've tried to explain a couple of times in the past:
- "We can always print money" - Alan Greenspan on Meet The Press Aug/07/2011
- Why is the cost of my Bill of Material (BOM) so much higher than last week? The Orwellian doublespeak answer: Quantitative Easing
More background on the issue:
- Gold Reserve Act of 1980, January 5th, 1981.
- FOIA contains material relating to the Gold Commission, Cria 198X.
- International Monetary Fund Current Financial Situation Statement, July 21, 1999.
- The Relationship of Monetary Policy and Rising Prices, March 17, 2011; They still don't get the value of the money is going down, not prices going up!
- H.R. 1495 Gold Reserve Transparency Act of 2011, June 23 2011.
- Third currency war to take world back to gold standard?, July 12, 2011.
- The death certificate of the paper dollar: Where to next?, December 22, 2011.
- All of the Money in the world, Money - A Chart of All of It, Where It Is and What It Can Do. See also http://xkcd.com/980/ and http://xkcd.com/980/sources/ [Click on png to make it legible]. 2011 data with sources.
To sum those up 'They' want the World to return to a Gold Standard based system. Sounds good in theory, however the same people that are creating the financial mess already own most of the worlds gold. Some banks are known to have bought large quantities of gold. Makes you wonder why does it?
When the Dollar does finally die, the regime that is in power at the time will give you and I say, five to ten days to exchange a token amount of the current Dollars, say $5,000 to $10,000 for the new script. Any amount you have above that, well that is just to bad, the Plutocracy doesn't care...
So the next time you go to buy some components for your Embedded Widget and the prices seem a lot higher, you'll be one of the few that understand they haven't go up, but the value of your money has gone down.