Dr M moots currency backed by gold

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He says this would be more stable than the current currency trading, which is manipulative.

Prime Minister Dr Mahathir Mohamad speaks at the 25th International Conference on The Future of Asia in Tokyo today.

“We can make settlements using that currency . That currency must relate to the local currency as to the exchange rate, and that is something that can be related to the performance of that country. “Just because that one country is affected, there is infection to the other countries. Malaysia was very stable way back in 1997… but because of the problems that occurred in Thailand , they said we must peg the Malaysian currency also.

“Currency trading is not something that is healthy because it is not about the performance of countries but about manipulation.

 

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