East Asia trading currency pegged to gold proposed

[silenceissilver]

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

KUALA LUMPUR (Reuters) - Malaysian Prime Minister Mahathir Mohamad on Thursday mooted the idea of a common trading currency for East Asia that would be pegged to gold, describing the existing currency trading in the region as manipulative.

Mahathir said the proposed common currency could be used to settle imports and exports, but would not be used for domestic transactions.

“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 at the Nikkei Future of Asia conference in Tokyo.

“The currency that we propose should be based on gold because gold is much more stable.”

https://www.reuters.com/article/us-malaysia-currency/malaysias-mahathir-proposes-common-east-asia-currency-pegged-to-gold-idUSKCN1T00FX

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My question is of course, if that happens, where will the gold price go?

[ilovesilverireallydo]

8 minutes ago, silenceissilver said:

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

KUALA LUMPUR (Reuters) - Malaysian Prime Minister Mahathir Mohamad on Thursday mooted the idea of a common trading currency for East Asia that would be pegged to gold, describing the existing currency trading in the region as manipulative.

Mahathir said the proposed common currency could be used to settle imports and exports, but would not be used for domestic transactions.

“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 at the Nikkei Future of Asia conference in Tokyo.

“The currency that we propose should be based on gold because gold is much more stable.”

https://www.reuters.com/article/us-malaysia-currency/malaysias-mahathir-proposes-common-east-asia-currency-pegged-to-gold-idUSKCN1T00FX

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My question is of course, if that happens, where will the gold price go?

Up. There are several analysts who also think Russia and China are stockpiling gold to move to a gold pegged currency 

[goldmember44]

Good idea... and another peg in the coffin of the US dollar as the world trading and reserve currency. I hope they follow through with it.

[Roy]

I wonder what his definition of 'East Asia' is?

[Scuzzle]

ISIS found to be operating out of Malayasia, send in the troops now.

[Tn21]

I'm sure Ghadaffi wanted to do something similar with the African nations, unfortunately for him he didn't make it out alive. 

[Au79]

17 hours ago, Tn21 said:

I'm sure Ghadaffi wanted to do something similar with the African nations, unfortunately for him he didn't make it out alive. 

Mahathir is now 94 years old, how the finale ends is now an option.

...Consequences -John Wick-

[Tn21]

👀