Actually, it is a gold standard to settle international trade between nations. There is merit to Mahathir Mohammed ideas, but it is still ripe for corruption longterm. The return to gold and silver coin is the only solution to prevent the tyranny of government's over it's populace. You may want to even consider copper as a part of a new monetary standard. Gold-Silver and Copper standard....
LONDON: Malaysia's elder statesman Mahathir Mohammed, the favorite politician of the Muslim man in the street and former prime minister, is never far from controversy.
Addressing the 5th International Shariah Scholars Forum, which was held in Kuala Lumpur recently in conjunction with the Global Islamic Finance Forum (GIFF) 2010, Mahathir in an outspoken attack stressed that the "collapse of conventional banking, finance and the monetary system has exposed their weakness and the ease with which they can be abused."
At the same time, in a stark warning to Islamic banks, he bluntly advised them to avoid getting involved in unethical practices in their pursuit to compete with conventional banks. Islamic banking in its current nascent stage, he added, cannot afford any disaster at a time when the industry is trying to gain acceptance as an alternative to conventional banking.
Mahathir is no stranger to Islamic finance. Although not much credit is given to this fact, it was him and his successive governments in the 1980s through to the 1990s and early 2000s that consistently supported the establishment of Malaysia's Dual Banking Model - a conventional banking system operating side-by-side with an Islamic banking system - cooperating but not interacting.
Malaysia has never looked back since then. Today its Islamic financial architecture is the most developed in the world, complete with enabling legal and regulatory framework; a financial sector master plan, of which 90 percent has been implemented; accounting standards; an Islamic interbank money market (the only one in the world); a thriving government Islamic sukuk and notes issuance program; consumer protection and awareness policies and a Shariah-compliant deposit insurance scheme.
In 1998 he also steered Malaysia out of the Asian financial crisis without resorting to the International Monetary Fund (IMF) with a cap in hand begging for a bail-out. The Malaysian solution vindicated Mahathir's policies because it turned to be highly successful, perhaps to the secret admiration of the IMF officials.
Crash JP Morgan, buy Silver a simple yet elegant plan to end the tyranny of the Federal Reserve. Paul Bea @ monex is my silver guy. 800-949-4653 x2172 100oz min on orders. Use Kevin from Goldmoneybill.org as a referral to help support this site and the spreading of the sound money concepts.
Saturday, December 11, 2010
Thursday, December 9, 2010
Here are some facts to chew on. The annual worldwide industrial consumption of Silver is 800 million oz. The annual mining production is about 600 million oz a year. The difference has been covered up to now by recycled Silver. The SLV and ETF markets are 100 larger than the current above ground Silver stores. The biggest financial fraud in the world.
Paul Bea- Monex 800-949-4653 x2172 100oz min on Silver. Get the U.S. eagles. Use Kevin from Goldmoneybill.org as referral. It helps support the goldmoney site.
Sunday, December 5, 2010
A hint it is tied up with the oldest profession in the world. They called it sacred prostitution. A wheat bushel was exchanged for a shekel which means wheat.
Goldmoneybill.org Holding the fort down till the return of the gold/silver standard.
Buy Silver and Crash the Fed. Paul Bea Monex 800-949-4653 x2172 100oz min on Silver.
Use Kevin from Goldmoneybill as a referral.