'Tis the monetary season of giving, and all is getting off to an early start.
Not to be outdone by Federal Reserve Chairman Ben Bernanke's QE2, World Bank President Robert Zoellick has penned an editorial in the Financial Times calling for a global monetary debate on returning to a gold standard, of sorts.
Zoellick is calling for a basket of leading currencies - the dollar, euro, yen, pound, and renminbi - to be paired with gold (which he describes as "an international reference point of market expectations") in a new Bretton Woods styled monetary order.
Gold really didn't need much of a reason to finally poke its head above $1400/oz, but Zoellick's op-ed and the gold chatter that's sure to follow will almost certainly provide the nudge.
Meanwhile, gold owners can sit back, grab a bag of popcorn, and enjoy the price of their Au.