Article: Pegging RM
MMJ 20220520
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Pegging RM to the USD means using valuable foreign currency to buy RM when it is going down
Pegging RM to the USD means using valuable foreign currency to buy RM when it is going down. Theoretically it does not really matter if our RM goes up or goes down against the USD. When RM goes down our exports increase, when our RM goes up our inflation goes down when food and other imports are cheaper.
What a nation don't want is a volatile exchange rate when it scares FDI Investors where they can't seriously plan long term investments into Malaysia. The value of a nation's currency really depends on the world's assessment of the wealth of that nation. Is the nation wealthy? Is it going to be wealthier? Is its economic output strong? Is it going to go up and continue to go up?
There is just one easy way to ensure a strong economic output and that it continues to be strong. And that is to be sure the country's money is focused on sectors that will generate economic output. We have been so brainwashed by the system that we ignore the low-lying fruits in front of us, Dr M included. And that is we allow our money creators, the banks, to continue to betray the nation by focusing the nation's money to personal loans, making them wealthy Chettiars at the expense of economic growth. Only 35% of the nation's money is directed to the real sector. If the ratio of 65%:35% personal sector: real sector is reversed to 35%:65% Malaysia's economic output will double overnight and RM will strengthen 50% overnight. But this will not happen because we are told that risk is a plague.
Our religion tells us AlGhunm bi Alghurm - Rewards only with risk but this is too kunu for our western damaged brains. And the govt's adviser BNM takes instructions from Basel, the city that gave birth to the World Zionist's Organization. So, it is so very sad when minds are not addressed to the real issue and the low-lying fruit.
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Dikemaskini [Updated]: Sam Ahmad 20230627