It seems that in South Korea some banks are engaging in product innovation to help customers ward off some of the effects of inflation. Rather than denominating bank accounts using the Won (national currency) some banks are now offering accounts denominated in gold. Whilst it is obvious that people will move their wealth to avoid the effects of inflation I am still intrigued by the novelty of this particular initiative (a throw back to the days of free banking). It seems that other banks are also intrigued with suggestions that the practice is set to expand. Of course the effect inflation has on moneys wealth storing effect is avoidable in many ways and this is in any case somewhat secondary to the broader economic maladies that inflation creates.