mo4ch:>‘Gold is more stable’: Malaysia needles US with proposal for pan-Asian bullion-backed currency | Mo4ch News

Malaysian PM Mahathir Mohamad has floated the idea of creating a gold-backed common trading currency for all of East Asia, slamming regional currency exchange as “manipulative” and criticizing the US’s heavy-handed foreign policy.“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,” Mahathir said at the Nikkei Future of Asia conference in Japan, suggesting the currency be “based on gold because gold is much more stable” and warning that promoting any one country’s currency over others would result in conflict. Exchange rates would be based on the country’s economic performance and not subject to the volatility of forex markets. Also on rt.comDollar beware: Serbia & Philippines join global gold hunt“Currency trading is not something that is healthy because it is not about the performance of countries but about manipulation,” Mahathir added. The gold-backed currency would not …