Last week in Tokyo, while addressing the 25th International Conference on the Future of Asia (Nikkei Conference), Malaysia’s Prime Minister, the venerable Dr. Mahathir Mohamad, went for gold. He brought the audience to attention by proposing an Asian currency linked to gold. Dr. Mahathir argued that such a currency would promote regional stability, while avoiding…
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…
PETALING JAYA: Some economists have welcomed Dr Mahathir Mohamad’s proposal for a new currency backed by gold, saying the change will benefit the economy on various levels. Nazari Ismail, an economics professor at Universiti Malaya, said a gold-backed currency would curtail currency trading and place a curb against the uncontrolled creation of money by international…
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