Paul Volcker, Bretton Woods, Gold standard

Former Federal Reserve chairman Paul Volcker has hinted at a new Bretton Woods to prevent "destructive financial crisis."

Volcker said in his Bretton Woods speech this past May:

"Was the exorbitant privilege of the dollar as a reserve currency also a dangerous temptation to procrastinate - an impediment to timely policy adjustments, risking eventual breakdown?"
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A new Bretton Woods conference? We are long ways from that. But surely events have raised, whether we want to admit it or not, some fundamental questions that have been ignored for decades.
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