Malaysia's Mahathir proposes common East Asia currency pegged to gold

Discussion in 'Currencies' started by pmbug, May 31, 2019.

  1. pmbug

    pmbug Active Member

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    More: https://www.reuters.com/article/us-...st-asia-currency-pegged-to-gold-idUSKCN1T00FX

    It sounds an awful lot like the IMF's SDRs backed by gold - something Rickards has been predicting for several years now.
     
  2. Roswell Crash Survivor

    Roswell Crash Survivor Well-Known Member Silver Stacker

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    He would do well to remember what happened to Col. Qaddafi.
     
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  3. Oddjob

    Oddjob Well-Known Member Silver Stacker

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    This is true, however Mahathir / Malayasia aren't a political pariah's against whom world opinion can be mobilised to justify aiding revolution but mostly HRC, Barry and Co aren't in power and able to disguise thief as "bring democracy" any more.

     
  4. Jislizard

    Jislizard Well-Known Member Silver Stacker

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    I don't think Saddam Hussein started out as a political pariah, didn't the US install him as he was more moderate than the others?

    It is easy to turn public opinion against people, just say they have weapons of mass destruction and you are good to go.

    I am pretty sure Saddam was considering a gold backed currency as a medium of exchange in the Muslim countries so they wouldn't have to use US dollars.

    I think it is North Korea who is the only one left without central bank control.
     
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  5. Oddjob

    Oddjob Well-Known Member Silver Stacker

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    Fair points also Jislizard. The US has a good track record re installing heads of state being their best friend, then getting rid of them when the time and need suits for another player ie Saddam, the Shar, Noriega or a raft of others.

    Difference now is that Trump is the new sheriff in town and doesn't appear to play by the old US playbook.
     
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  6. Ag bullet

    Ag bullet Well-Known Member

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    is there oil in malaysia?
     
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  7. Oddjob

    Oddjob Well-Known Member Silver Stacker

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    Yep (and gas), all through the region inc in MAL. I remember reading years back that the major oil companies has the SE Asian region mapped, drilled and capped 30+ years ago. Just sitting on the reserves for when and if needed.
     
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