Latest topics
Malaysian Prime Minister proposes a single gold-linked currency for East Asia
Page 1 of 1
Malaysian Prime Minister proposes a single gold-linked currency for East Asia
Malaysian Prime Minister proposes a single gold-linked currency for East Asia
Malaysian Prime Minister Mahathir Mohamad
30/05/2019
Economy News Baghdad
Malaysian Prime Minister Mahathir Mohamad on Thursday put forward the idea of a single trade currency for East Asia to be linked to gold, describing current currency trading in the region as manipulative.
Mahathir said the proposed currency could be used to settle imports and exports, but not in local transactions.
"In the Far East, if you want rapprochement, we must start with a single trade currency, not used domestically, but for trade settlement," he said at a conference in Tokyo.
"The currency we propose should be tied to gold because it is more stable."
The current foreign exchange system allowed currencies to be manipulated and manipulated by external factors.
During the financial crisis in Asia, Mahathir ringgit was tied at $ 3.8 and controls were imposed on capital flows. The linkage to the Malaysian currency was discontinued in 2005.
Earlier this week, the administration of US President Donald Trump said the Treasury Department had found no major trading partner whose practices required listing on currency manipulators, but listed Malaysia on a list of nine countries requiring close scrutiny.
In response, the central bank said on Wednesday its intervention in the currency market was limited to containing excess volatility.
http://economy-news.net/content.php?id=16810
Malaysian Prime Minister Mahathir Mohamad
30/05/2019
Economy News Baghdad
Malaysian Prime Minister Mahathir Mohamad on Thursday put forward the idea of a single trade currency for East Asia to be linked to gold, describing current currency trading in the region as manipulative.
Mahathir said the proposed currency could be used to settle imports and exports, but not in local transactions.
"In the Far East, if you want rapprochement, we must start with a single trade currency, not used domestically, but for trade settlement," he said at a conference in Tokyo.
"The currency we propose should be tied to gold because it is more stable."
The current foreign exchange system allowed currencies to be manipulated and manipulated by external factors.
During the financial crisis in Asia, Mahathir ringgit was tied at $ 3.8 and controls were imposed on capital flows. The linkage to the Malaysian currency was discontinued in 2005.
Earlier this week, the administration of US President Donald Trump said the Treasury Department had found no major trading partner whose practices required listing on currency manipulators, but listed Malaysia on a list of nine countries requiring close scrutiny.
In response, the central bank said on Wednesday its intervention in the currency market was limited to containing excess volatility.
http://economy-news.net/content.php?id=16810
*****************
>>>TNTBS's YouTube Channel<<<
RamblerNash- GURU HUNTER
- Posts : 24270
Join date : 2015-02-19
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum
Wed Mar 27, 2024 6:02 am by Ditartyn
» Dave Schmidt - Zim Notes for Purchase (NOT PHYSICAL NOTES)
Sat Mar 23, 2024 9:25 am by swizzlestick
» ZIGPLACE
Wed Mar 20, 2024 6:29 am by Zig
» CBD Vape Cartridges
Thu Mar 07, 2024 2:10 pm by Arendac
» Classic Tony is back
Tue Mar 05, 2024 2:53 pm by Mission1st
» THE MUSINGS OF A MADMAN
Mon Mar 04, 2024 11:40 am by Arendac
» Minister of Transport: We do not have authority over any airport in Iraq
Mon Mar 04, 2024 11:40 am by Verina
» Did Okie Die?
Mon Mar 04, 2024 11:34 am by Arendac
» Hello all, I’m new
Wed Jan 31, 2024 8:46 pm by Jonny_5
» The Renfrows: Prophets for Profits, Happy Anniversary!
Wed Jan 31, 2024 6:46 pm by Mission1st
» What Happens when Cancer is treated with Cannabis? VIDEO
Wed Jan 31, 2024 8:58 am by MadisonParrish
» An Awesome talk between Tucker and Russell Brand
Wed Jan 31, 2024 12:16 am by kenlej
» Trafficking in children
Mon Jan 29, 2024 7:43 pm by kenlej
» The second American Revolution has begun, God Bless Texas
Mon Jan 29, 2024 6:13 pm by kenlej
» The Global Currency Reset Evolution Event Will Begin With Gold, Zimbabwe ZWR Old Bank Notes
Sun Jan 28, 2024 3:28 pm by Mission1st
» Tucker talking Canada
Wed Jan 24, 2024 6:50 pm by kenlej
» Almost to the end The goodguys are winning
Mon Jan 22, 2024 9:03 pm by kenlej
» Dinar Daily Facebook Page
Mon Jan 22, 2024 3:34 pm by Ponee
» The Fundamentals of Finance and Pimpy Live
Thu Jan 18, 2024 7:17 am by Dinarhater
» Why Won't the Iraqi Dinar Scam Die?
Wed Jan 17, 2024 5:19 pm by RamblerNash