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    Tuesday, September 27, 2005
    Our currency in danger
    Every country using US dollars for their floating currency. For me, this is dangerous. For example, the oil price is hitting the "danger marking" and that is causing the world to suffer alot. Oil prices are based on US currency and that effected the whole world. Automobile industries will die and to be frank the whole economy will drop tremendously. Iran have decided not to use US currency anymore but they will use Euro currecy. A good step by the Iran leaders in order to protect their economy.


    If the US currency drop sharply in the future, the poor country will suffer the most. Medical supply will pops with a higher tag and so does the oil price. Stock market in those country will plundging at the lowest value. From what i read, the US currency is not based on gold. They just print the paper money millions of dollars per years. Currency that is not based on pure gold is not worth than 20 cents per piece.

    The world is dominated by artificial money! Yup, not the real money but paper that is not based on pure gold. Our former prime minister; Tun Dr. Mahathir Mohamed once suggested Islamic countries to use Dinar. He knew the danger of solely using US curency and to make sure poor and developing countries survives when the artificial money gone down. Dinar is gold and the world gold price is the most stable value compared to US currency.

    Malaysia's converted US currency ratio was 1:6++ and that is huge ratio. Think what would happen if the US currency drops without any warning? We will feel the deep pain of course. George Soros once emptied our pocket by using US currency speculation. He didn't use gold to held our economy but he used US currency. While he's doing that, the richer countries getting more richer and the poor countries asking help from the World Bank with huge interest. Just look at Indonesia, they still struggling to pay the loan to the World Bank.

    Then comes the plastic money pouring us with "how-easy-to-use" scheme. Yup, i'm talking about credit cards and how it will make you fall flat on your back. Credit card is dangerous to because they are base on....nothing! Yes i know you'll say credit cards are based on how many you have in your bank account. Now hear me out, let say that i'm using credit cards for my oversea bussiness and guess what, they use US currency.

    Maybe it's time for Muslim countries to use Dinar as their main currency. I'm looking at the "check-and-balance" to maintain a healthy world economic flow. Currency dominating is not a good thing for poor countries thus holding them back to reach their stable economic value. We should change to Dinar to keep the yin and yang safe.
    posted by Jamloceng @ 1:41 PM  
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