The Prime Minister of Malaysia<\/a> has called for the formation of a new currency backed by gold<\/a>. Dr Mahathir Mohamad believes that a single sound currency in East Asian would help protect economies from manipulation caused by Forex traders.<\/p>\n
Mohamad also spoke about the influence of the US and how it was disadvantageous for the global market to be tied to the currency of a nation state. Such attitudes are spreading<\/a> around the world and this presents an interesting opportunity for Bitcoin.<\/p>\n
According to a report in domestic news publication Free Malaysia Today<\/a>, the nation’s Prime Minister, Dr Mahathir Mohamad, is in favour of a single currency for the East Asian region. This new currency would be backed by gold and importantly would not be the national currency of any existing country.<\/p>\n
Naturally, the seemingly perpetual gold bug Peter Schiff<\/a> used the announcement of the Malaysian Prime Minister to shill the virtues of his favourite shiny metal at the expense of Bitcoin:<\/p>\n
\nAttention crypto shoppers: Gold is the future of money, not Bitcoin!https:\/\/t.co\/jENKDzsXll<\/a><\/p>\n
— Peter Schiff (@PeterSchiff) May 30, 2019<\/a><\/p><\/blockquote>\n