Heterodox
Veteran Malaysian Prime Minister Mahathir Mohamad has made a speech calling for all of east Asia to begin trading on the basis of a new currency based on a classical gold standard. While Mahathir did not suggest that this currency should be used to settle daily transactions between individuals, he proposed that a gold backed pan-Asian currency should replace the US dollar as the standard currency used in bilateral trade among Asian countries.... Mahathir’s statement comes at a time when...
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