Problems faced in the world financial market would not have arisen if USA had not opted out of the Bretton Woods standard.
I urge Bank Negara, Ministry of Finance and others to peg the RM against GOLD or, create the Malaysian Dinar(to be backed by GOLD).
The USD is virtually a worthless currency financed by the World. Why should we finance the American's lifestyle and their ability to wage war against anybody at random.
The creation of a Malaysian Dinar will ensure that the Dinar will become a currency of choice and strength. In addition, Malaysia will be able to wrest the financial leadership of ASEAN which we surrendered to Singapore during the financial turmoil of 1997/98 when capital/currency controls were imposed. After all the Singapore Dollar is also pegged against the USD.
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