May 31, 2019
The Malaysian Prime Minister has proposed an Asian Gold backed Currency against Dollar dominance. Will India acknowledge this Gold War being waged across the Middle East and Asia including India, let alone take the lead in this initiative?
An Asian Gold backed Currency against Dollar dominance
Malaysian Prime Minister Mahathir Mohamad on Thursday (May 30) proposed to create a new “special currency” for the region based on gold, replacing the existing currency trading regime.
Speaking at a dialogue session at the 25th International Conference on The Future of Asia (Nikkei Conference), he claimed that a regional currency based on gold would be more stable.
The Malaysian prime minister said that by pegging the new currency to gold, it could be used to evaluate the import and export activities among East Asian countries.
We can make settlement using that (new) currency. That currency must be pegged to the local currency as the exchange rate, which is something that can be related to the country’s performance.
That way we know how much we owe, how much we have to pay in the special currency of East Asia.
The new currency could also be extended to countries outside East Asia, he said.
Asian Gold Backed Currency Against Dollar Dominance
Dr Mahathir also noted that the global market is now tied to the US dollar, and this makes the currency prone to manipulation.
Just because that one country is affected, there is infection to the other countries. Malaysia was very stable way back in 1997 (during the Asian financial crisis) … but because of the problem occurring in Thailand, they said we must peg the Malaysian currency (to the US dollar).
What happened? The currency traders sold the Malaysian currency and the value of Malaysian currency depreciated.
This currency trading is not something that is healthy because it is not about the (economic) performance of countries but it is about manipulation.
When asked if the Japanese yen or Chinese yuan could be used as the common currency in the region, the prime minister replied:
If we are trying to promote our own currency, there will be conflict.
But if we have a common currency for East Asia, a common trading currency that is not used in each country but for the purpose of settlement trade only, then there will be stability.
Trying to promote the yen or the yuan is not the way to go.
Earlier this week, the United States added Malaysia to a watchlist of trading partners for currency practices, citing its foreign exchange intervention operations. Other countries, including Singapore, China, Germany, Japan, South Korea and Vietnam were also added to the list.
On Thursday, Dr Mahathir hit out at the US for “labelling countries”.
The US is fond of labelling that country is no good, this country is no good and telling countries on ways to conduct their business.
You are not democratic. That is not for any single power to decide. If you want to live in a united world, stable world, we must resort to sustainability through agreement between all nations that have a stake in that problem.
India and the Gold Wars
In 2010 the minister for the mines Dasari Narayana Rao gave a written reply to the Parliament that there are 8.8 million oz of mineable Gold in one single block D-51/D-52 of Anantapur District. At roughly 30 oz = 1 kg, this is 0.3 million Kilograms = 300 tons. What of the hundreds of other such blocks? The minister held his head high and stated with pride that since India does not have the technology to mine our own Gold, so we give away the contract to foreign countries. Excerpt from GreatGameIndia‘s exclusive book India in Cognitive Dissonance. Get your copy from here.
Exactly while the presstitutes of corporate-controlled-media used the artificially-created pro-Pakistan ruckus in JNU to divert our attention, our Gold-mines have been auctioned away to foreign based companies on the basis of the same claim that “India does not have the technology to mine our own Gold”. The Gold mines were auctioned to none other than London based Vedanta Resources. The same firm to protect whose interests, Israeli trained state police opened fire on unarmed protesters killing atleast 13 civilians. If this was not enough, the Indian Government has slated 100 other mines to be auction this year.
All the economic indicators and the leading economists and financial experts are saying that the Anglo-American world has blown-up its gold reserves. That is why neither Bank of England nor Federal Reserve want any audit, because it will prove that there is no gold there. Many economists actually suspect that the gold mining figures themselves might have been cooked up.
The main cause of the financial ruin in the interval 2008-2012 was this currency manipulation, without any Gold left to back it up. If the countries are not of European origin, they are all subjected to what we can now call as Gold Wars or Pipeline Wars in which Iraq and Libya are knocked out and promptly their gold-reserves were confiscated. And the world is witnessing the similar brink-of-war situation with the other four powers.
Will India acknowledge this Gold War being waged across the Middle East and Asia including India, let alone take the lead in this initiative? We discuss in detail this Gold Wars and its implications to India in our exclusive book India in Cognitive Dissonance.
For more than 2000 years a war is being waged for the control of India and the access routes connected to it. The Turkey Coup is the beginning of the end of the Great Game, as it is known. With Russia slipping out of their hands, the eyes were set on an unfathomably resource-rich country, which even after thousand years of non-stop plunder and looting still captures the imagination of one and all, thugs, thieves and robber-barons alike with her yet-unknown massive economic resources potential — that country is India.
India in Cognitive Dissonance is a hard-hitting myth-buster from GreatGameIndia. A timely reminder for the decadent Indian society; a masterpiece on Geopolitics and International Relations from an Indian perspective – it lays bare the hypocrisy taken root in the Indian psyche because of the falsehoods that Indian society has come to accept as eternal truth.