Hugo Salinas Price Proposes the Silver Dirham for Malaysia

Wednesday, 12 December 2012

ACMPP

The Third World RIBA Conference was held in Kuala Lumpur, Malaysia, November 26 and 27.

Dr. Mohamad Mahathir, former prime minister of Malaysia, opened the Conference with a vigorous denunciation of the current fractional-reserve banking system which prevails in the world.

The Conference hosted the Islamic scholar Sheikh Imran N. Hosein, Mr. Hugo Salinas Price, president of the Mexican Civic Association Pro Silver, and other speakers from Malaysia, Australia, Canada and the United States. Most of them agreed on the urgent need to introduce alternative means of payment and saving, due to the financial crisis and exhaustion of the current monetary system.

During his speech, Mr. Salinas Price proposed the introduction of the silver dirham as parallel money beside the fiat ringgit, using the same technique that he is proposing for Mexico. Among the benefits, Salinas Price pointed on the strong political support that this measure would generate on the part of the population; the possibility for Malaysians to save in real money; and the geostrategic role that Malaysia would assume by being the first country in the world to provide quality money for its people.

The proposal generated much interest and support among those attending the Conference, and Salinas Price handed out among the audience the present document which contains his proposal and some reflections upon it.

Read the document The Silver Dirham for Malaysia