Malaysia’s Mahathir proposes common East Asia currency pegged to gold
Gold bullion
Reuters reported the following from Malaysia:
Malaysia’s Mahathir proposes common East Asia currency pegged to gold
KUALA LUMPUR (Reuters) – Malaysian Prime Minister Mahathir Mohamad on Thursday mooted the idea of a common trading currency for East Asia that would be pegged to gold, describing the existing currency trading in the region as manipulative.
Mahathir said the proposed common currency could be used to settle imports and exports, but would not be used for domestic transactions.
“In the Far East, if you want to come together, we should start with a common trading currency, not to be used locally but for the purpose of settling of trade,” he said at the Nikkei Future of Asia conference in Tokyo.
“The currency that we propose should be based on gold because gold is much more stable.” 05/30/19 https://www.reuters.com/article/us-malaysia-currency/malaysias-mahathir-proposes-common-east-asia-currency-pegged-to-gold-idUSKCN1T00FX
Notice this is a proposal for international trade. Most international trade has been done in US dollars. This move would reduce that. This will negatively affect the US dollar, and if implemented, would help prepare more nations for a post-US dollar world which is coming.
Yesterday, ZeroHedge reported the following:
For years, gold bulls had speculated that China has been quietly piling up physical gold, awaiting the moment to unveil a gold-backed currency, either after the dollar’s reserve status falters or before.
Today, the Malaysian Prime Minister Mahathir Mohamad took one large step in that direction when he proposed the launch of an Asian version of the euro: a common trading currency for East Asia that, unlike the euro, would be pegged to gold, describing the existing currency trading in the region as manipulative (perhaps in reference to China’s currency setting framework). https://www.zerohedge.com/news/2019-05-30/malaysia-proposes-launch-asian-currency-pegged-gold
For most of its history, the USA dollar used to be directly convertible to gold. It no longer is.
Now, the USA is still believed to have a lot of gold:
May 31, 2019
If you’re looking for a central bank full of gold bugs, start in the U.S. and Germany.
The U.S. owns the most gold of any country, according to an analysis of data from the International Monetary Fund, published on HowMuch.net.
The U.S.’s reserve of gold equals 8,133 tonnes, worth more than $373 billion.
Germany comes in second, with 3,369 tonnes, worth more than $154 billion. …
Other countries might be catching up to the U.S. Russia and China rank sixth and seventh, respectively, but they are also some of the most aggressive buyers in recent years, according to the IMF.
Those countries have had concerns about relying on the dollar as a reserve currency, https://www.marketwatch.com/story/the-us-owns-the-worlds-most-gold-heres-who-comes-in-second-2019-05-30
Despite having a lot of gold, the USA also has a lot of debt. Over $22 trillion, thus its gold reserves are not adequate to cover hardly any of it.
As far as the Euro goes, I have long believed that Europe will one-day have some type of gold-backing for its currency (and published about that back in 2009).
After the US dollar is gone, Europe will dominate international trade and finance, and this will involve gold (cf. Daniel 11:37-43; Revelation 18).
Back to 1971, notice also the following from the old Worldwide Church of God:
Plain Truth, May 1971Momentous, historic events are transforming … Europe. But most Americans are “asleep at the switch” to what is happening. It’s time for a self-centered America to wake up – before her allies become her enemies. Envision the startling future of … Europe. A … union … surpassing both the United States and the Soviet Union in economic strength, possessing for the first time worldwide political power and influence. One news source recently called it an “enormous, physically powerful beast.” A new … Europe controlling perhaps half of all world trade, by exclusive arrangements with dozens of nations who produce raw materials. A “United States of Europe” possessing one single currency – a currency so strong that it will replace the U. S. dollar as the kingpin currency of world trade. (Hogberg G. EUROPE’S COMMON MARKET RISING WORLD COLOSSUS. Plain Truth, May 1971)
Now, Europe does have its own currency–a currency that some see as the logical replacement for the US dollar for world trade–especially because of US sanctions, etc. As far as waking up before Europe becomes an enemy, Lamentations 1:1-2 is a prophecy that shows that allies will become enemies.
The Bible shows that the European King of the North will end up with gold. Notice something that I wrote about this in my 2017 book Donald Trump and America’s Apocalypse:
Daniel 11:43:
43 He shall have power over the treasures of gold and silver, and over all the precious things of Egypt; also the Libyans and Ethiopians shall follow at his heels.
The “he” is the King of the North. This is the same King of the North that valued gold and silver in Daniel 11:38. Although other scriptures also show that gold and silver will have value around this time (like Revelation 18; 9:20), the Bible is clear that gold and silver will be worthless for a short time before Jesus returns, e.g. Ezekiel 7:19.
The fact that the King of the North himself will accumulate gold (and some silver) is consistent with several Byzantine (“Greek” Orthodox) prophecies of their expected Great Monarch:
Emperor Leo the Philosopher (died 912): You will amass gold…And you will be the leader of the surrounding nations…
Addressed to Emperor Manuel II Palaeogous (died 1425): The Emperor…will discover gold and silver…
Saint Andrew Fool-for-Christ (c. 4th century): God will reveal to this king all the gold wherever it happen to lay concealed from view…
One side note is that, in Egypt, major gold deposits were found in 2006. This is relevant as it does prove that Egypt now has enough gold that a foreign power could be interested in taking/using it as Bible prophecy teaches.
Since many are now questioning the role of the US dollar as the world’s reserve currency, more are looking into other currencies as well as gold. Gold will set records in US dollar terms.
It has been proposed that various nations around the world are already in the process of accumulating gold to one day overthrow the U.S. dollar—and that the “U.S. is unprepared for this strategic alternative to dollar dominance.”
When the U.S. dollar totally collapses people all around the world will consider that even if the Euro (or something similar) is strong, having a more gold-backed currency would be safer.
The collapse of the USA dollar will shake a lot of the world’s confidence in non-gold backed currencies.
The Europeans do not have to have a perfect currency, only one that is perceived to be in better shape than the USA dollar.
Having the European power acquiring more gold to back the Euro or possibly another future European currency (that might potentially replace the Euro or even a basket of currencies) may greatly increase European credibility, prosperity, and influence around the globe, even if the backing is only implied.
The debt accumulation policies of the Obama Administration, which are a massive acceleration of the previous policies of the Bush Administration, look like they will be continued by Donald Trump.
The increases in America’s debt are heading the world into the time when something other than the U.S. dollar will be valued as its reserve currency.
A Donald Trump Administration would need to make massive changes to possibly prevent this.
The USA and its dollar are at serious risk.
The Trump Administration did increase US debt since that writing was published (which was a day or two before Donald Trump took office).
And even Germany is getting more gold. And yes, there will be reorganization in Europe (Revelation 17:12-13; see also Must the Ten Kings of Revelation 17:12 Rule over Ten Currently Existing Nations?).
The time will come when the USA dollar will be worthless and gold will be even more valuable.
The Russians and Chinese have been making gold moves (watch US Dollar being challenged by Gold-Petro-Yuan). Russia and China are working towards a world where the US dollar is not the world’s primary reserve currency and a world where gold rises up (see The End of US Dollar Dominance).
The call by the Malaysian Prime Minister is likely something that Russia and China wanted to hear. And, if there does end up being a gold-backed Asian (or Eurasian) currency, this could also be a factor in the ‘unity’ we will see in Asia leading to Armageddon (Revelation 16:16).
The US dollar will collapse as scriptures like Habakkuk 2:6-8 and Daniel 11:39 point to. Daniel 11:39 is the start of the time of Jacob’s trouble (Jeremiah 30:7) also known as the Great Tribulation.
The world will have been used to the stability of the US dollar and Europe will want to try to have that type of confidence in its currency. It will get more gold!
Consider the following:
39 Thus he shall act against the strongest fortresses with a foreign god, which he shall acknowledge, and advance its glory; and he shall cause them to rule over many, and divide the land for gain (Daniel 11:39).
The “he” is the European King of the North. The “land” will likely not be the only thing he will gain–as that would include whatever other wealth he can plunder from the USA–and that would include getting the Fort Knox and other gold in the USA.
Furthermore, the Bible clearly shows that gold will have value into at least the first few couple of years of the Great Tribulation–and that the Europeans will also value it.
Notice the following:
40 “At the time of the end … 43 He shall have power over the treasures of gold and silver and over all the precious things of Egypt; (Daniel 11:40,43)
Verse 43 occurs during the time known as the Great Tribulation.
As far as Egypt and gold goes, notice the following:
“If you look at the potential of the mineral resources in Egypt, it’s very significant,” says Yousef Husseini, Vice President of EFG Hermes.
“The Egyptian mineral resource authority has identified over 120 gold deposits in the eastern desert alone, so that gives you an idea of the tip of the iceberg out there.”
“It’s going to add a lot of GDP growth,” Husseini adds. For now, only one large mine, the Sukari Gold Mine, is operating in the region — with an output of around 500,000 ounces per year.
Overall, the industry makes up a mere 1.3% of Egypt’s GDP, according to the Egyptian Mineral Resources Authority, but the government hopes to expand that to 5% over the next ten years. https://www.cnn.com/2016/06/14/africa/new-golden-age-egypt/index.html
As far as Europe, gold, and the tribulation go, notice the following:
10 … ‘Alas, alas, that great city Babylon, that mighty city! For in one hour your judgment has come.’
11 “And the merchants of the earth will weep and mourn over her, for no one buys their merchandise anymore: 12 merchandise of gold and silver, precious stones and pearls, fine linen and purple, silk and scarlet, every kind of citron wood, every kind of object of ivory, every kind of object of most precious wood, bronze, iron, and marble; 13 and cinnamon and incense, fragrant oil and frankincense, wine and oil, fine flour and wheat, cattle and sheep, horses and chariots, and bodies and souls of men. (Revelation 18:10-13)
This shows us that gold and silver were important during the time of the final Babylon as people are mourning about gold after the Great Tribulation has ended and Babylon is destroyed.
There are no similar statements backing up the future value of paper items, like the US dollar or the British pound (scripture, indirectly, teaches their elimination, for details see Anglo – America in Prophecy & the Lost Tribes of Israel). Daniel 11:24 shows that the leader mentioned in Daniel 11:43 will somehow also be accumulating wealth prior to this time, and that may involve gold accumulation.
Perhaps to back up a European supported currency, he also may end up with personal and/or national gold reserves and/or wealth from the Vatican. The Vatican has a vast amount of wealth and is prophesied to be improperly involved with the kings of the earth in the end times per Revelation 17.
Now this does NOT mean that gold will only go up in value. It will have ups and downs and probably will drop in value once associated with the temporary peace deal that Daniel 9:27 alludes to (see also The ‘Peace Deal’ of Daniel 9:27).
Contrary to the view of various ‘gold bugs,’ the Bible is clear that those who amass gold at the end time will find it is not the answer:
1 Come now, you rich, weep and howl for your miseries that are coming upon you! 2 Your riches are corrupted, and your garments are moth-eaten. 3 Your gold and silver are corroded, and their corrosion will be a witness against you and will eat your flesh like fire. You have heaped up treasure in the last days. (James 5:1-3)
(cf. Revelation 18:9-17).
While I do not have the confidence in gold as many ‘gold bugs’ do (basically, because of scripture and the fact that gold has a limited utility), the time will come when the USA will wish it had more gold, as its practice of electronically printing and borrowing its own money will create a massive problem for it (Habakkuk 2:6-8).
The USA has been practicing various forms of ‘currency manipulation’ and the Malay Prime Minister is correct that currency manipulation is a problem.
American politicians and financial leaders think that they will keep being able to get away with it–but there will be a cost–the US dollar will one day collapse in value.
But have no doubt about it, the Bible prophesies that during the Great Tribulation (Matthew 24:21-22; Daniel 11:39-43; Revelation 18:12,16) that nations around the world will value gold. During that time, there will be no US dollar prominence.
Unlike the USA dollar, gold seems to be prophesied to retain value past the time the USA is gone (cf. Daniel 11:43; Revelation 18)–though it too will end up with issues and will one day be worthless (Ezekiel 7: 19).
The Babylonian European Beast power will control a lot of gold.
The Continuing Church of God (CCOG) has the following video on our Bible News Prophecy YouTube channel:
Gold is so valuable it is called a precious metal. What nation has the most of it? Is there an area of nations with more? Will gold last longer than the USA dollar? Are there properties about the Beast and/or the Antichrist in the Bible that show that the European Babylonian Beast power will amass gold during the time of the Great Tribulation? Are there Eastern Orthodox prophecies that look forward to this? Are there biblical and Roman Catholic prophecies that warn against this? Are European central banks already accumulating gold? Did Swiss America state that some central banks are leaning towards a gold standard? Might the coming King of the North accumulate gold to use to help shore up his currency after the demise of the US dollar? Dr. Thiel addresses these issues and more.
Here is a link to the sermonette video: Beast Prophecies and European Gold.
The Europeans, Russians, Chinese, and others are in the process of accumulating gold.
Biblically, we can be sure that Europe will amass more gold shortly after the start of the Great Tribulation (cf. Daniel 11:43; Revelation 18:12,16).
Some items of possibly related interest may include:
The Plain Truth About Gold in Prophecy. How Should a Christian View Gold? What do economists and the Bible teach about gold? Gold and silver may drop in value. Inflation/deflation? What do Christians need to know about gold? Two videos of related interest are Beast Prophecies and European Gold and Germany, Gold, and the US Dollar.
Some Doctrines of Antichrist Are there any doctrines taught outside the Churches of God which can be considered as doctrines of antichrist? This article suggests at least three. It also provides information on 666 and the identity of “the false prophet.” Plus it shows that several Catholic writers seem to warn about an ecumenical antipope that will support heresy. You can also watch a video titled What Does the Bible teach about the Antichrist?
Who is the King of the West? Why is there no Final End-Time King of the West in Bible Prophecy? Is the United States the King of the West? Here is a version in the Spanish language: ¿Quién es el Rey del Occidente? ¿Por qué no hay un Rey del Occidente en la profecía del tiempo del fin? A related sermon is also available: The Bible, the USA, and the King of the West.
Who is the King of the North? Is there one? Do biblical and Roman Catholic prophecies for the Great Monarch point to the same leader? Should he be followed? Who will be the King of the North discussed in Daniel 11? Is a nuclear attack prophesied to happen to the English-speaking peoples of the United States, Great Britain, Canada, Australia, and New Zealand? When do the 1335 days, 1290 days, and 1260 days (the time, times, and half a time) of Daniel 12 begin? When does the Bible show that economic collapse will affect the United States? In the Spanish language check out ¿Quién es el Rey del Norte? Here is a link to a video titled: The Future King of the North.
The Great Monarch: Biblical and Catholic Prophecies Is the ‘Great Monarch’ of Catholic prophecies endorsed or condemned by the Bible? Two sermons of related interest are also available: Great Monarch: Messiah or False Christ? and Great Monarch in 50+ Beast Prophecies.
Jesus Returning, David’s Throne, and the Stone of Destiny Will Jesus return to the throne of David? What about the Stone of Scone? Here is a link to a related video: Stone of Destiny and Jesus’ Return.
The End of US Dollar Dominance Is the USA losing its economic status? What about the petro-gold-yuan? A related video is also available: US Dollar being challenged by Gold-Petro-Yuan.
Physical Preparation Scriptures for Christians. We all know the Bible prophecies famines. Should we do something? Here is a version in the Spanish language Escrituras sobre Preparación física para los Cristianos. Here is a link to a related sermon: Physical preparedness for Christians.
Christian Repentance Do you know what repentance is? Is it really necessary for salvation? A related sermon is also available titled: Real Christian Repentance.
Just What Do You Mean — Repentance? Do you know what repentance is? Have you truly repented? Repented of what? Herbert W. Armstrong wrote this as a booklet on this important subject.
When You Sin: Do You Really Repent? This is an article by Charles F. Hunting. A related sermon is Confess to God and truly repent.
Do Christians Sin? This is an article by Herbert W. Armstrong.
Europa, the Beast, and Revelation Where did Europe get its name? What might Europe have to do with the Book of Revelation? What about “the Beast”? Is an emerging European power “the daughter of Babylon”? What is ahead for Europe? Here is a link to a video titled: Can You Prove that the Beast to Come is European?
European Technology and the Beast of Revelation Will the coming European Beast power would use and develop technology that will result in the taking over of the USA and its Anglo-Saxon allies? Is this possible? What does the Bible teach? Here is a related YouTube video: Military Technology and the Beast of Revelation.
Asia in Prophecy What is Ahead for Asia? Who are the “Kings of the East”? What will happen to nearly all the Chinese, Russians, Indians, and others of Asia? China in prophecy, where? Who has the 200,000,000 man army related to Armageddon? Two YouTube video are Is China THE Threat to the United States of America? and China: A King of the East.
Anglo – America in Prophecy & the Lost Tribes of Israel Are the Americans, Canadians, English, Scottish, Welsh, Australians, Anglo-Saxon (non-Dutch) Southern Africans, and New Zealanders descendants of Joseph? Where are the lost ten-tribes of Israel? Who are the lost tribes of Israel? What will happen to Jerusalem and the Jews in Israel? Will God punish the U.S.A., Canada, United Kingdom, and other Anglo-Saxon nations? Why might God allow them to be punished first? Here is a link to the Spanish version of this article: Anglo-América & las Tribus Perdidas de Israel. Information is also in the YouTube sermons titled Where are the Ten Lost Tribes? Why does it matter? and British are the Covenant People. A short YouTube of prophetic interest may be Barack Obama and the State of the Apocalypse.
Will the Anglo-Saxon-Celtic Nations be Divided and Have People Taken as Slaves? Will the lands of the United States, United Kingdom, Canada, Australia, and New Zealand be divided? What about Jerusalem? What does Bible prophecy teach? Are there non-biblical prophecies that support this idea? Who will divide those lands? Who will end up with the lands and the people? Here is a link to a video titled Will the USA and other Anglo-nations be Divided and Their People Made Slaves? Here is a related item in the Spanish language ¿Serán divididas las naciones anglosajonas?
British are the Covenant People What do ‘British’ and ‘Britain’ mean in Hebrew? Are the descendants of the Anglo-Saxons people of the covenant? Does the British royal family connect to the throne of David? What does the Bible teach? What does history show us? Is there any DNA evidence related to British-Israelism? When did Christianity make it to the British Isles? Could Jeremiah have made it to the British Isles? What type of Christians made it to the British Isles? Did the last King of England believe in British Israelism?
Australia and New Zealand in Prophecy Do biblical prophecies help explain the wealth blessings for Australia and New Zealand? Might cursings from disobedience come in the 21st century? Here is a link to a related sermon: Australia and New Zealand: Origins and Prophecy.
When Will the Great Tribulation Begin? 2019, 2020, or 2021? Can the Great Tribulation begin today? What happens before the Great Tribulation in the “beginning of sorrows”? What happens in the Great Tribulation and the Day of the Lord? Is this the time of the Gentiles? When is the earliest that the Great Tribulation can begin? What is the Day of the Lord? Who are the 144,000? Here is a version of the article in the Spanish language: ¿Puede comenzar la Gran Tribulación en 2018 o 2019? ¿Es el Tiempo de los Gentiles? You can also see the English language sermon videos: The Great Tribulation from the Mount of Olives and Can the Great Tribulation begin before 2020? A shorter and newer video is: Might the Great Tribulation start in 2019?
The Times of the Gentiles Has there been more than one time of the Gentiles? Are we in it now or in the time of Anglo-America? What will the final time of the Gentiles be like? A related sermon is available and is titled: The Times of the Gentiles.
The Eurasian Union, the Kings of the East, and Bible Prophecy Is there a Eurasian union that will be formed? Are any leaders working on that in the 21st century? Does the Bible teach that there will be a Eurasian union? What about the Eurasian Economic Union (EAEU)? A related video would be Is The Eurasian Union Rising?
Armageddon Who is involved and when will this gathering happen? Here is also a video from Dr. Thiel, from Tel Megiddo in Israel: Armageddon. Other videos include: Armageddon Will it come on Trump’s watch?, Iraq, Armageddon, & Prophecy, Freemasonry, Armageddon, and Rome, Is China paving roads to Armageddon?, and Jordan, Petra, and Armageddon.
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