G20 Asks Germany to Pledge its Gold for EFSF Rescue Fund, Bundesbank Refuses

Shades of Bretton-Woods breaking down: ``In spite of the stupidity of discussing something that is not going to happen, here are three reasons to be grateful they did: (1) The proposal highlights the desperation, blatant arrogance, and sheer pig-headedness of the G20 and Eurozone finance ministers; (2) The proposal shows that gold is money; (3) Sooner or later, one of these asinine proposals will will cause Germany to realize the EMU is a lost cause. The sooner Germany realizes that, the better off everyone will be.''