#49 in WORLD Gold Reserves Ranking - MALAYSIA

MALAYSIA is NO.49 in the World with respect to our Gold Reserves as at January 2012.
( Read, http://www.relbanks.com/rankings/world-gold-reserves )

The ranking DOES NOT concern me, what I'm concerned about are:-
1) The actual tonnage that Malaysia holds I.e. approx.37 tonnes.
2) Gold percentage as a percentage of Malaysia's Forex Reserves I.e. 1.5%

To be crude Malaysia's Ringgit is part of a massive, legalised "Pak Man Telo" scam.

Why do I say that!!!???
Ringgit is backed by a basket of currencies. Though the % holdings are never known, it's a "no-brainer" that the "usual suspects or culprits" held as reserves by BNM are the US Dollar, European EURO, Japanese Yen & Chinese Yuan.

Most of these currencies' economies are to put it mildly in "deep shit". USA with it's various Quantitative Easings (QE 1, 2 etc), Europe with the PIIGS economies bankrupt or almost there coupled with slow or negative growth, record unemployment and Japan with fractional growth.

You can relate this to the 2008/2009 Sub-Prime crisis, where financial instruments of a lower financial rating e.g. BBB+ are put/bundled together and given a higher rating e.g. A or, AA by the Rating Agencies like Moodys, Fitch etc ( paid by Investment banks) and sold
immediately to the money/financial market by these banks not wanting to keep this repackaged instruments as an "On Balance Sheet" item.

NOW, replace certain words in the above statement with the following:-
Forex = Sub-Prime
Currency = Financial Instruments
Country Rating = Financial Rating
Country/Nation = Investment Banks / Banks
GDP/GNP = On Balance Sheet Item.

......and wallah!



Yet, the currencies of these troubled economies are "Propping Up" or, forming the backbone of our Ringgit.

ALTERNATIVE Currencies

When a Financial system is UNJUST, alternatives will appear. Please click at the respective Names given below.


Examples of Alternative Currencies:-

GERMANY

GREECE,

ITALY

USA

Richard Branson

SOUTH CAROLINA - 2nd US State Legalised the Usage of Gold & Silver coins!!!!!!!

SOUTH CAROLINA, USA became the second US state after Utah(2011) to legalise the usage of gold and silver coins as a currency.

Read, REPORT.

Which state will be next amongst the More than 10 states in various process of legislating and ratifying the laws for the usage of gold and silver coins as a currency - Iowa, Georgia, Minnesota, Tennesse.......Your guess is as good as mine!!!

SCOREcard:-
USA: 2 (4%) out of 50 states had Passed Legislation for the Usage of Gold & Silver coins as a Currency. Utah(2011) & S.Carolina(2012).
MALAYSIA: 2 (15.4%) out of 13 states had Introduced the Gold Dinar & Silver Dirham. Kelantan(2006) & Perak(2011).

Koperasi BELIA ISLAM (KBI) Introduces Dinar & Gold Savings Account

I believed a WORLD first had just happened.

A Gold Dinar Savings account have just been introduced by Koperasi Belia Islam-KBI.

Further details will be updated SOON.