Posts Tagged ‘Fiat Money’

29
Jul

Mahathir Refers US Dollars as Toilet Paper

Tun Dr. Mahathir on his Chedet.cc – Blogging to unblock wrote an entry entitled “The Ringgit and the Dollar” on current US dollar crisis.

Tun Dr Mahathir Mohamad
^ Tun Dr. Mahathir Mohamad, Prime Minister of Malaysia 1981 – 2003.

“13. To remain ahead in wealth the Americans and Europeans invented a new market – the money market. They invented ways of making money from money. These they call products although they cannot be eaten or used.”

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28
Jul

Third Series of Malaysian Coins, in Detailed Comparison

In this post, we will investigate in details our 3rd series coins. This is in response to my previous post, 10 facts about Malaysia’s new 3rd series coins. I will share with you how I discover my facts.

investsilvermalaysia.com
^ I was at Bank Negara yesterday to check out the new coins first handed

The engineering of my facts are simply breaking down the metal content of the coin in percentage and matches it with current metal market price. Four metals are involved in today’s baking lesson. They are namely Nickel, Copper, Zinc and Stainless Steel. Sadly, none of them are in the precious metals group.

Let’s crunch some numbers.

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26
Jul

10 Facts About Malaysia’s New 3rd Series Coins

New Malaysian coins
^ Image from http://www.bnm.gov.my website.
Today, we welcome the news from Bank Negara that we will be having a new set of coins to replace our current aged design. I took the effort to investigate and compare the newer coins with our existing coins and found some interesting facts. Below are the 10 facts I found interesting and that all Malaysian should know.

10 facts about the 3rd series Malaysian coins

Fact #1: 50 sen shrinks 39.3% in weight.

Fact #2: 5 sen gain 21.9% in weight.

Fact #3: 50 and 20 sen have Nickel Brass content.

Fact #4: 5 sen is the only one gain in diameter with 9.4% gain.

Fact #5: 1 sen is officially retired.

Fact #6: Stainless steels are now our new 5 and 10 sen.

Fact #7: 100% nickel 50 sen is still 20% off its face value.

Fact #8: None of it has metal value that matches it’s face value.

Fact #9: None of it has value higher than the previous coins.

Fact #10: None of it has any precious metals in it.

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17
Jul

Gold is not money, Federal Reserve

Last Wednesday, Federal Reserve Chairman Ben Bernanke openly denied gold is money when questioned by congressman Ron Paul at point blank. Check out the video below on Ron Paul debating with Ben Bernanke on the Federal Reserve’s decision on bailouts. The classic moment is at 4″55. A classic too great to be missed out on beautiful Sunday morning.

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