With Chinese New Year being just around the corner, many are expected to leave Kuala Lumpur behind to visit families and relatives who live outside of the city for a week or so. Many of those living or working in the city have left the city. With the Chinese forming more than 40% of the […]

In the olden days when four-legged beasts were the best mode of land transportation, gold was money. Everyday transactions involved gold and other precious metals as the medium of exchange then, just as paper money now dominates transactions in the modern economy.¬†Gold had a very special position in human culture then due to its fundamental […]

I do not take hard currency idea seriously. Hard currency is a wacky idea. I generally think supporters of hard currency, gold standard advocates being the worst, as non-serious discussants of monetary policy. Hard currency is inflexible and it will exert unnecessary pain in time of crisis. If we had a hard currency all over […]

I took a long hard look at a one-euro coin in my hand while I was on a train to Versailles from Paris. For a huge monetary policy controversy across the Eurozone, the coin does not look so special. It is a small unassuming bimetal. Not too many would take a second look at it. […]

Libertarians generally are in favor of commodity-backed currency. This is largely based on typical libertarian attitude towards the state: do not trust them. Others who are not quite libertarian share the same idea about trust. They really have trouble believing that a piece of paper worth something when it is only backed by some promise. […]