Malaysian PM Calls for a Gold-Backed Pan-Asian Trading Currency

In other words he is calling for all East Asian trade to be settled in gold rather than dollars

He has also asked to see evidence Russia shot down MH17 and complained Malaysia wasn’t allowed to help investigate

The idea for gold-backed currency got a nod of approval from the Malaysian Prime Minister Mahathir Mohamad, who proposed a common trading currency pegged to gold for all of East Asia.

Mahathir made his statement at the Nikkei Future of Asia conference held in Tokyo last week.

“In the Far East, if you want to come together, we should start with a common trading currency, not to be used locally but for the purpose of settling of trade,” he said on Thursday. “The currency that we propose should be based on gold because gold is much more stable.”

Malaysian Prime Minister described the world as filled with conflicts in which currencies are being manipulated.

“The situation in the world is not stable. We see conflicts everywhere … There is a confrontation between America and China. We are all affected even though we are not part of the contestants,” Mahathir said. “Currency trading is not something that is healthy because it is not about the performance of countries but about manipulation.”

With his gold-backed currency proposal, Mahathir drew the line at settling imports and exports, noting that his idea would not be used in local stores.

During his speech, Mahathir also criticized American world dominance, adding that its power is undemocratic.

“You [the U.S.] 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.”

Malaysian PM is known for his rhetoric against currency trading, especially after Mahathir stated that billionaire George Soros bet against Asian currencies and triggered the 1997 Asian financial crisis.

Source: Kitco

  1. tom greg says

    So, sanctions on Malaysia..?

  2. JHK says

    Welcome to the Axis (Russia China Iran Turkey Philippines Qatar Pakistan)

  3. cap960 says

    Dangerous idea! He might have the Iraqi, Libya democratic liberation on his head or some other form of humanitarian aid.

  4. CHUCKMAN says

    The Malaysian Prime Minister is quite unusual and refreshing in the way he speaks his mind.

    His comments, sound ones, about the downing of Flight MH-17 are virtually ignored in the West, except on alternative Internet sites.

    His proposal here for a gold-backed trading currency for the Far East is one that should be seriously studied, but of course the United States has a few important trading economies there in its hip pocket.

    His dismissal of the United States as not being democratic is just the plainest of truths, but it will of course be completely ignored in the West.

    1. DarkEyes says

      BTW “Far East” is a colonial expression for East Asia.

      The Asian people put a request to the West to get rid of this jargon.
      Asia is becoming the next huge economy in the world.

      So, they demanded, to use in all speaking and writing to use “East Asia”.

      A reasonable and rightful request IMO.

  5. JustPassingThrough says

    the last guy that said that was regime-changed.
    does he know something we don’t know?

    1. Canosin says

      it won’t happen…..
      instead, it’s Soros that should pay a price….. long time overdue

  6. John C Carleton says

    When Muammar Gaddafi started promoting a gold backed African money, the RothsRats had him raped up the tush with a knife, murdered, his country destroyed.

    The Malaysian PM best keep his butt to the wall.

    1. pooi-hoong chan says

      Agree. Libya and Iraq are major oil producers but Malaysia is not. Surely US will disrupt Petronas overseas operations.

      1. David Bedford says

        Does Malaysia have much gold? I guess they do or else they would not be backing this

    2. DarkEyes says

      Agree. In the meantime the alternative world (like Russia, China, India, Iran, Indonesia, Philippines and some more) progressed and the Gold Standard will be introduced not far away now.
      Japan’s banking system closes down to change,
      Indonesia’s banking system closes down to change,
      and many more countries in East Asia but also in Africa are changing their banking systems adjusting to new Gold Standard or already have. (GESARA).

      By the way, Russia already planned in 2008 to get rid of US dollar and will keep the Gold Standard. And it is happening, also neighbour China will.

      The world debtcollector IMF accepted the standard as well.
      Hopefully we are in the final episode of the crooked FedRes and then:
      “End with Lustig!” for the FedRes.

      1. John C Carleton says

        The IMF is a Rat Tool.
        The Rats own Putin.
        Bet your behind, the Rats have minions in the Chinese government.

        Until there are no Rats, mankind will remain Usury and economic slaves.

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