Dr M moots currency backed by gold


Prime Minister Dr Mahathir Mohamad speaks at the 25th International Conference on The Future of Asia in Tokyo today. (Bernama pic)

TOKYO: Prime Minister Dr. Mahathir Mohamad says Malaysia is proposing a new currency based on gold, as this would be more stable than the current currency trading which is manipulative.

He said the precious metal could be used to evaluate import and export activities among the East Asian countries.

“We can make settlements using that (new) currency (using gold). That currency must relate to the local currency as to the exchange rate, and that is something that can be related to the performance of that country.

“That way we know how much we owe and how much we have to pay in the special currency of East Asia,” he said during a dialogue session at the 25th International Conference on The Future of Asia (Nikkei Conference) here today.

Mahathir arrived in Tokyo last night for a three-day working visit.

He said the new currency could also be extended to countries outside the East Asian region.

Currently, he said, the global market is tied to the US dollar, which gives room for the currency to be manipulated.

“Just because that one country is affected, there is infection to the other countries. Malaysia was very stable way back in 1997… but because of the problems that occurred in Thailand (during the Asian financial crisis), they said we must peg the Malaysian currency also.

“What happened? The currency traders sold the Malaysian currency down and the value of Malaysian currency depreciated.

“It is not even the money that they have. They never had any Malaysian currency but nevertheless they were able to sell huge quantities of Malaysian currency and when it is depressed, of course they can buy and sell it at a higher price when it comes up,” he added.

“Currency trading is not something that is healthy because it is not about the (economic) performance of countries but about manipulation.

“Anything that you have in oversupply, we will lose value. Anything that is short of supply will increase in value so they sell huge quantities of money they don’t have, and because the amount is so big, there is depression of the value.”

Mahathir said if countries are downgraded or upgraded, it should be by an uncommitted international forum, not a country.

Here, he hit out at the US for “labelling” other countries.

“The US is fond of labelling that country as no good, this country as no good, and telling countries about ways to conduct their businesses.

“You are not democratic. That is not for any single power to decide. If you want to live in a united world, a stable world, we must resort to sustainability through agreement between all nations that have a stake in that problem.”

Asked if the Japanese yen or Chinese yuan could be used as the common currency in Asia, Mahathir replied: “If we try to promote our own currency, there will be conflict.

“But if we have a common currency for East Asia, a common trading currency that is not used in each country but for the purpose of settlement trade only, then there will be stability.

“But trying to promote the yen or the yuan, that is not the way to go.”

If government leaders are recognizing a shift from fiat currencies to precious metal backed monetary system, and seeking to create economic policies backed by precious metals protect their domestic economies...shouldn't you be doing something with precious metals to back your family's "domestic" economy?

The ISDA offers Main Street solutions that were normally reserved for the Financial Elite, but available to you, your family and your community today!

CLICK TO OPEN YOUR IVA!

#PreciousMetals #Geopolitics #Gold #Money #Silver

Featured Posts
Recent Posts
Archive
Search By Tags
No tags yet.
Follow Us
  • Facebook Basic Square
  • Twitter Basic Square
  • Google+ Basic Square

S.D.G. | © 2017 by International Silver Dollar Association ~  www.ISDASilver.org

All Rights Reserved.  All Wrongs Reversed.

OPPORTUNITIES

COVENANTS & DISCLOSURES

MEMBERSHIP

Back to Top

ICFMS Logo Vertical_edited.png

IMPORTANT MESSAGE: ISDASilver.org is a website owned and operated by the International Silver Dollar Association an Ecclesiastical State Integrated Auxiliary Trust operating by rule of necessity as an Unincorporated Association (hereinafter, “ISDA”).  We are a Faith Based Organization qualified under Title 26 U.S. Code § 508c(1)a Non-Assumptive 28 U.S. Code § 1746 (1).  By accessing the website and any pages thereof, you agree to  the binding terms of use of all ISDA Policies & Agreements, as each may be amended from time to time.  ISDA is not a registered broker, dealer, investment adviser, investment manager or registered funding portal.  Any and all private offerings on this site are available without contravention of Rule 506(b) of Regulation D, as “safe harbor” under Section 4(a)(2) of the Securities Act, and pursuant to the iCovestor Relationship & Royalty Sharing Covenant made in acquiescence at the time of any like kind exchange for any goods, services, and/or subscription made in the medium and measurement of silver in the form of U.S. Treasury Minted American Silver Eagle Coined money (Measured Digitally and/or Physically exchanged thereof as an Intentional Community Opportunity (-ies), a.k.a. “ICO” or "ICOs").

The information contained on this site is provided for informational purposes as a service to the public as part of the mission of the ISDA and does not constitute legal or tax advice.  Legal Information is not the same as Legal Advice.  Some of the information on this site and corresponding emails provide information about law designed to help users safely cope with their own Faith Based Organization needs.   The application of law varies depending on many circumstances. The laws of every state are in constant change, and although we go to great lengths to make sure our information is accurate and useful, we recommend you consult a lawyer if you want professional assurance that this educational information, and your interpretation of it, is appropriate to your particular situation.

 

ISDA Website Entry & Use Agreement & Public Notice: CLICK HERE