'...many more will soon follow Kelantan's lead to abolish an endlessly dilutable thought experiment [called paper money]...''If there is one thing we are sure about, is that any time the government steps in before a decision that has been taken by a clear majority, with the purpose of making life easier, the outcome is usually lethal, especially in volatile Islamic countries. Whether the transition from paper to a hard-backed currency will be the first spark in social upheavals as government slowly realize all their printer-induced leverage is slipping away, is still unknown. What is, however, is that many more will soon follow Kelantan's lead to abolish an endlessly dilutable thought experiment, which has no intrinsic value, and whose purchasing power is decimated by the minute, as hundreds of billions in new money are printed every month by the world's central banks. Yet perhaps, this is precisely the example that is needed for the world to realize that someone is actually willing to do more than just talk pointlessly about the transition to a gold standard, and actually is willing to risk enough by following through with it. What happens next is Ben Bernanke's worst nightmare.'
-
Malaysian Province Moves To Gold And Silver-Based Currency In "Main Islamic Event Of The Last 100 Years," 08/17/2010
Gold Standard-
The Gold Standard and Its Future-
The Gold Standard 'The use of money in a market economy is a praxeologically necessary fact.'-
The Case for a Genuine Gold Dollar-
What Has Government Done to Our Money? by Murray N. Rothbard-
What Has Government Done to Our Money? The Classical Gold Standard (The Monetary Breakdown of the West)