Another step towards a Gold standard?

Dear Reader,
Gold investors are one step closer to being able to use gold as a trading security after a European parliamentary committee approved a proposal to allow clearing houses to accept gold as collateral. This was announced by the World Gold Council on Wednesday.
“It is very significant that the European Parliament is putting its weight behind the argument that the unique characteristics of gold make it an ideal form of high quality liquid collateral,” said Natalie Dempster, director of government affairs at the WGC.
The European Parliament’s Committee on Economic and Monetary Affairs agreed unanimously to allow clearing houses to accept gold.
Traditional assets such as government bonds have continued to reduce in value, creating a risk of loss. Whereas Gold’s strong price gains in recent years have seen its appeal as collateral increase. Clearing houses as well as other institutions have looked at introducing new sources of collateral since the financial problems of 2008.
This is one step in a series of measures, following on the heels of CME Group Inc, in October 09 saying it would allow physical gold to be used as collateral. Followed by Intercontinental Exchange Inc. in late 2010 and in February of this year, JP Morgan Chase announced its decision to accept physical gold as collateral in some financial transactions.
How long do you think it will be before this move is filtered down the hierarchy of banks to land on a high street bank near you?  I do not need an analyst to tell me the dramatic effect this will have on the Gold price!
Each step is a nail in the coffin of the fiat money system, so buy your reserve gold currency today at a value far lower than predictions would suggest.