The USA Securities and Exchange Commission (SEC) is criticising itself for having failed to detect Mr Madoff’s alleged USA dollar 50 billion Ponzi scheme though his consistently high returns had aroused suspicions over the years and sparked complaints to regulators. (1)

The good thing about this is that our Masters will be foreclosed from bailing out Madoff who himself admitted he was a Ponzi scheme.

The efficient market hypothesis states, in its simplest form, that the current market’s valuation of an asset accurately reflects all past and present information from which each and every shareholder thus receives the full benefits. (2)

Right, it follows from the efficient market hypothesis that the current market’s valuation of an asset does not reflect future information about the asset.

That’s why the sheeple need a government, financed through taxation whereas the thief does not come back periodically, nor does the thief pretend to stealing in the public interest.

The SEC should have alerted the sheeple to Madoff being a Ponzi scheme.

But we are still not being told what would have been Madoff’s Ponzi scheme.
This is still future, science-fiction, information.

The SEC was established by the United States of America congress in 1934 as an independent, non-partisan, quasi-judicial regulatory agency following years of depression caused by over production of goods, the introduction of consumer credit, and the Great Crash of 1929. The main reason for the creation of the SEC was to regulate the stock market and prevent corporate abuses relating to the offering and sale of securities and corporate reporting. The SEC was given the power to license and regulate stock exchanges, says Wikipedia. (3)

The Greater Depression nevertheless started this fall.

The SEC is utterly incompetent.

The efficient market hypothesis says that the current market’s valuation of an asset accurately reflects all past and present information. Like the current market’s valuation of the asset, the SEC cannot provide future information about that asset

What’s then the use of the SEC? What kind of information which the market cannot provide does the SEC provide?

Still, the Internal Revenue Service (IRS) of the USA is extracting funds from honest people to keep the SEC bureaucrats alive.

Repeal the SEC immediately!

Ivo Cerckel
17 December 2008

NOTES

(1)
SEC chief criticises failures in Madoff case
By Joanna Chung in New York
Published: December 17 2008 02:25 | Last updated: December 17 2008 02:25
http://www.ft.com/cms/s/0/92bd4c68-cbd7-11dd-ba02-000077b07658.html

(2)
Arthur B. Laffer, “Do Investors need More Information?” in:  M. Bruce Johnson, ed., “The Attack on Corporate America”, McGraw-Hill, 1978, 107

(3)
http://en.wikipedia.org/wiki/U.S._Securities_and_Exchange_Commission

A court of appeal in Brussels, Belgium, says that banks should consult shareholders before agreeing to being carved up. (1)

The court dares not challenge fractional-reserve banking.

The court thereby recognises that under no circumstances, it will protect depositors.

The court will only protect banksters and their shareholders.
The court will only promote usury, to the benefit of the banksters’ shareholders.

The court allows banksters to continue creating money out of thin air through fractional-reserve banking, just like the court’s Masters, the government of Belgium, can create money out of thin air through the use of the printing press.

Yes, Belgium, the court’s Masters, is a member of the European Monetary Union. So only the European Central Bank (ECB) can print money in Belgium.

But ECB president Jean-Claude Trichet says this morning in the Financial Times that the ECB will continue its Ponzi scheme. (2)

The Brussels court of appeal agrees.

To repeat:
Fractional-reserve banking
From Wikipedia, the free encyclopedia
http://en.wikipedia.org/wiki/Fractional-reserve_banking
SNIP
Fractional-reserve banking is the banking practice in which banks are required to keep only a fraction of their deposits in reserve with the choice of lending out the remainder while maintaining the obligation to redeem all deposits upon demand. This practice is UNIVERSAL in modern banking.

Criticism of fractional-reserve banking
From Wikipedia, the free encyclopedia
(Redirected from Debt-based monetary system)
http://en.wikipedia.org/wiki/Debt-based_monetary_system
SNIPS
Some critics of fractional reserve banking and the related monetary system may refer to it by the political term debt-based monetary system
+
Critics of fractional reserve usually note that the banking system “creates money out of nothing”. The insight that banks “create money by extending loans” is not new, and the subject is covered in most introductory economics textbooks and many popular reference works

Ivo Cerckel
Siquijor, 15 December 2008

NOTES

(1)
Belgium vows to press on with Fortis sale
By Michael Steen in Amsterdam
Published: December 14 2008 18:10 | Last updated: December 14 2008 18:10
http://www.ft.com/cms/s/0/b5046408-ca08-11dd-93e5-000077b07658.html
SNIP
The Belgian government said on Sunday it was “determined” to press ahead with the €14.5bn ($19.4bn) sale of Fortis to BNP Paribas, in spite of a surprise court ruling that freezes the transfer of a majority stake to the French bank.
In a decision late on Friday, that shocked political and business circles, the Brussels Court of Appeal found in favour of a group of shareholders seeking to block the carve-up of Fortis.
It said shareholders should be consulted on management decisions in October that led to the nationalisation of Fortis in the Netherlands and the sale of its Belgian operations to BNP Paribas.

(2)
Trichet’s Ponzi scheme
December 15th, 2008 by Ivo Cerckel
http://bphouse.com/honest_money/2008/12/15/trichet%E2%80%99s-ponzi-scheme/
If the link does not work, try copy and paste it in your browser.

Bernard Madoff , the former Nasdaq chairman who was arrested last week for allegedly running the biggest USA dollar Ponzi scheme of all time, immediately admitted to prosecutors that his was a Ponzi scheme. (1)

Jean-Claude Trichet, president of the European Central bank, does not.

Trichet only mumbles about the need for reflection on the fragility, not only of global finance but of the global economy itself.  (2)

Granted, if Trichet is prepared to question unbacked paper money, then he is not intellectually dishonest.

The Ponzi scheme began with a vengeance on 15 August 1971, when USA president Richard Nixon ended the remnants of the gold standard, and unleashed entirely discretionary monetary policy on the world. (3)

Ivo Cerckel
Siquijor, 15 December 2008

NOTES

(1)
HSBC joins victims of Madoff’s alleged fraud
By Francesco Guerrera and Henny Sender in New York and Victor Mallet in Madrid
Published: December 14 2008 23:24 | Last updated: December 14 2008 23:24
http://www.ft.com/cms/s/0/5446156e-ca1f-11dd-93e5-000077b07658.html
SNIP
Prosecutors alleged that he said his operations were “just one big lie” and “basically a giant Ponzi scheme” – a structure where investment managers pay old investors with money raised from new investors to cover their losses.

(2)
Trichet warns on fiscal indiscipline
By Ralph Atkins and Lionel Barber in Frankfurt
Published: December 14 2008 23:31 | Last updated: December 14 2008 23:31
http://www.ft.com/cms/s/0/83c0905c-ca16-11dd-93e5-000077b07658.html
SNIP
Mr  Trichet argues that the global financial market crisis has posed a serious threat to industrialised economies. “We cannot afford in future to put the concept of the market economy at risk as we did . . . The fragility, not only of global finance but of the global economy itself, is something that we should reflect on.”

(3)
December 13, 2008
The Age of Madoff
Posted by Lew Rockwell at December 13, 2008 01:36 PM
http://www.lewrockwell.com/blog/lewrw/archives/024400.html

Former Nasdaq chairman Bernard Madoff was arrested last week for allegedly running the biggest dollar Ponzi scheme of all time.

According to the Securities and Exchange Commission (SEC)’s statement, Mr Madoff has confessed to losses of “at least”  USA Dollar 50 billion.

A giant Ponzi scheme? What was the actual scam?

We are not allowed to know what Madoff did wrong.

According to prosecutors (Ivo: from the SEC?), when asked by the FBI agents about his revelation to his amazed sons that his business was collapsing, he said simply: “There is no innocent explanation”, says The Telegraph. (1)

Along the way, the sheeple are coming to realise how bad the Crisis really is.

We have been living beyond our means for too long and have displayed the utmost creativity to continue doing that. That creativity has now come to an end.

Without collateral or anchor, no valuation can be trusted. Hence, the purchasing power of one USA dollar varies according to the place where you want to establish that purchasing power. The same product geographically varies in price.

FreeGold would put an end to these different valuations.

The dollar debt system is losing all its credibility.

Only universally valuable FreeGold can restore this credibility to “our” globalising economy.

At that moment, the same product will have the same price all over this planet.

Or will German chancellor Merkel continue to argue that there is now a general consensus to negate all economic laws? (2) (3)

This horrific fraud is a perfect icon of the era of central banking, which began with a vengeance on 15 August 1971, when Richard Nixon ended the remnants of the gold standard, and unleashed entirely discretionary monetary policy on the world. (4)

Ivo Cerckel
Siquijor, 14 December 2008

NOTES

(1)
Bernie Madoff: Profile of a Wall Street star
Bernard Madoff launched his high-flying career with a few thousands dollars raised from summer jobs as a lifeguard and garden sprinkler installer, and ended it in a pale blue bathrobe and slippers.
By Philip Sherwell in New York
Last Updated: 12:04AM GMT 14 Dec 2008
http://www.telegraph.co.uk/finance/3742427/Bernie-Madoff-Profile-of-a-Wall-Street-star.html

(2)
Wirtschaftspolitischer Rat
Vom Krisentreffen zur konzertierten Aktion
Von Andreas Mihm, Konrad Mrusek und Manfred Schäfers
13. Dezember 2008
http://www.faz.net/s/Rub0E9EEF84AC1E4A389A8DC6C23161FE44/Doc~E5E18EB9107EB439EB8363930B20AFD4C~ATpl~Ecommon~Scontent.html
SNIP
Der Blick zurück auf dem Weg nach vorn ist gewollt. Der stellvertretende Regierungssprecher Thomas Steg sprach mit Blick auf das Treffen im Kanzleramt an diesem Sonntag von einer „ideellen konzertierten Aktion“. Es sei zwar nicht beabsichtigt, die Runde zu einer dauerhaften Einrichtung zu machen, aber denkbar, dass das Treffen wiederholt werde. Auf jeden Fall steckt hinter der Einladung die Absicht, einen breiten gesellschaftlichen Konsens für das erwogene zweite Konjunkturpaket zu erzielen (lesen Sie die Namen auf Merkels Gästeliste).

(3)
“Madame Non” Merkel switches to “yes” as EU motto
Fri Dec 12, 2008 10:24am EST
By Kerstin Gehmlich
http://www.reuters.com/article/vcCandidateFeed2/idUSTRE4BB4OX20081212
SNIP
BRUSSELS (Reuters) – German Chancellor Angela Merkel on Friday laughed off the “Madame Non” nickname critics have given her over her European policies, saying “yes” had been her credo during climate and economic talks at an EU summit.
Merkel, who faces a general election next year, left the meeting with a mixed bag of gains and setbacks that might give some relief to German industry, but will also see Berlin pay more for climate measures in eastern Europe than it intended.
“‘Yes’ has been the motto of the day,” a smirking Merkel told a news conference at the end of the two-day meeting of European leaders, when asked about her “Madame Non” image.

(4)
December 13, 2008
The Age of Madoff
Posted by Lew Rockwell at December 13, 2008 01:36 PM
http://www.lewrockwell.com/blog/lewrw/archives/024400.html

Central banks should stop thinking independently from reality.

The Fallacy of Causal Confusion – ECB interest-rate independence means independence from reality – Petitio principii – The Principle of Non-Contradiction

Interest rates are not, as Lord Keynes thought (1), the price of money. (2)

Interest rates are the price spreads between the stages of production. The former is only a reflection of the latter. But it requires no Keynesian labyrinths to explain this phenomenon. (3)

When those price spreads change, interest rates should follow suit.

Not so for the European Central Bank (ECB).

ECB governor Axel Weber, central bank governor of Germany (president of the Bundesbank), says that the ECB’s monetary policy is not subject to any kind of automatic mechanism. (4)

Weber’s ECB colleague Athanasios Orphanides, central bank governor of Cyprus, even argues that interest rates are tools for promoting expansion and goes on to argue that the idea that monetary policy becomes ineffective and cannot provide expansionary impetus when the short-term interest-rate is very low, or zero, is a fallacy. (5)

Orphanides’ argument presupposes that the level of interest rates causes economic expansion, c.q. economic decline.

Orphanides attributes a certain type of effect (economic expansion, c.q. economic decline) to a subject (interest rates) which, in itself, does not cause such effects. This is the fallacy of “causal confusion” which is false, precisely because it attributes certain effects to the subject of interest rates which interest rates do in themselves not cause. (6)

Prosperity is the result of hard work, savings and/or investment. Prosperity is not the result of interest-rate manipulation or use of the money printing machine. (7)

The fallacy of “petitio principii”, otherwise known as “begging the question”, occurs whenever something which the conclusion seeks to establish (8) is being used as a premise to prove the very same conclusion. (9)

Orphanides makes an argument of the fact that there is an automatic mechanism which says that  interest rates cause expansion, c.q. decline, of economic activity.

Weber says that there is no automatic mechanism.

Aristotle’s principle of non-contradiction says that is impossible to be and not be at the same time and in the same respect.

Contrary to what many authors argue, this principle, or law, is not applicable to reality, only to thought. Thought is submitted to it. Reality is not. (10)

Orphanides’ thought contradicts Weber’s thought because they both deny the nature of interest rates.

Central banks should stop thinking independently from each other and from reality.

Ivo Cerckel
Siquijor, 13 December 2008

NOTES

(1)
Murray N. Rothbard, “Man, Economy, and State – A Treatise on Economics”, Auburn, Alabama: Ludwig von Mises Institute 2001, (originally published 1962)., p. 691

(2)
George Reisman, “Capitalism – A Treatise on Economics”, Ottawa, Illinois, Jameson books, 1998. 3rd ed., p 863

(3)
Rothbard, op. cit., p. 691

(4)
ECB’s Weber says markets will have to wait for next rate cut
AFP
FRANKFURT, Dec 12, 2008 (AFP)
http://www.zawya.com/story.cfm/sidANA20081212T074325ZAQW48/ECB%27s%20Weber%20says%20markets%20will%20have%20to%20wait%20for%20next%20rate%20cut
SNIP
Influential European Central Bank governor Axel Weber [says …]
“Our monetary policy is not subject to any kind of automatic mechanism.”

(5)
ECB confident on power to fight downturn
By Ralph Atkins in Frankfurt
Published: December 12 2008 12:35 | Last updated: December 12 2008 19:44
http://www.ft.com/cms/s/0/f0313446-c843-11dd-b86f-000077b07658.htmlhttp://www.ft.com/cms/s/0/f0313446-c843-11dd-b86f-000077b07658.html
SNIP
The European Central Bank could deploy exceptional monetary measures even if interest rates fell to zero, a senior policymaker has argued, indicating that the ECB feels it still has plenty of ammunition to fight the economic downturn.
Athanasios Orphanides, central bank governor of Cyprus, argued that “the idea that monetary policy becomes ineffective and cannot provide expansionary impetus when the short term interest rate is very low, or zero, is a fallacy.”

(6)
Juan Jose Sanguineti, “Logic”, Manila: Sinag-Tala Publishers, (first published in 1982 in Spanish by the Ediciones Universidad de Navarra), 1992. p. 170

(7)
Roland Leuschel and Claus Vogt, “Das Greenspan Dossier, Wie die US-Notenbank das Weltwährungssystem gefährdet. Oder: Inflation um jeden Preis”, www.finanzbuchverlag.de, 2006, 3rd ed.,, p. 50

(8)
Madsen Pirie, “How to Win Every Argument – The Use and Abuse of Logic”, Continuum Books, 2006, p. 123

(9)
Sanguineti, op. cit., p. 171

(10)
Fernand Van Steenberghen, (F.-X. de Guibert, ed.), Philosophie fondamentale , Longueuil, Québec, Editions du Préambule, 1989, footnote p. 296:
Contrairement à ce qu’affirment beaucoup d’auteurs, ces principes [the principle of non-contradiction, the law of the excluded-middle and the law of identity] sont des lois logiques ou des lois de pensée comme telle et non des lois de l’ordre réel.

Here’s a 08 December 2008 video of the Canadian Business News Network where at minute 12,
in reply to the question whether the USA central bank, the Fed, is not a hedge fund,

Lyle Gramley, Fed Governor from 1980 to 1985 and current senior advisor at Stanford Group,

says that the Fed balance sheet includes USA Treasury gold certificates,

that these certificates could be marked to market(-price) (MTM-d) instead of being priced as they are now at USD 42,

and that, and I paraphrase, if the Fed did that, its balance sheet would not look so leveraged.

Ivo:
The question arises to what level the price of gold would then rise.
The question presupposes that there is some gold left at Fort Knox.

Trading Day : December 8, 2008 : Special: Part One [12-08-08 2:30PM]
http://watch.bnn.ca/trading-day/december-2008/trading-day-december-8-2008/#clip119798
Making sense of the financial crisis, the possible cures, and the future of global business. Special guest host Niall Ferguson, author and professor, Harvard University, joins Marty Cej and Frances Horodelski. BNN interviews Lyle Gramley, former Fed Governor and current senior advisor, Stanford Group, and John Taylor, CEO, and founder, International Foreign Exchange Concepts Inc.

Ivo:
During my “research” for this post, I came across this;:
August 12, 1981
Policy Analysis no. 2
Monetization Practices and the Political Structure of the Federal Reserve System
by Richard H. Timberlake Jr.
http://www.cato.org/pub_display.php?pub_id=868&full=1
SNIP
The late 1950s and early 1960s saw a resurgence of world trade, one effect of which was an outflow of gold from the United States to foreign central banks and treasuries at a rate of approximately $1 billion a year. The Fed effectively sterilized the loss of gold by matching the losses in the titles to gold (gold certificates) with acquisitions of government securities. The U.S. money stock, therefore, did not decline in the classical fashion. The gold standard was not allowed to operate.

The high profile effort to agree legislation to lend $14bn to the USA auto industry collapsed on Thursday night, leading the Bush administration to hold open the possibility that it would seek funds from its financial rescue plan instead, says the Financial Times this morning.

As a result, Asian stock markets collapsed this morning and European markets are now collapsing also.

There are now two possibilities.

Either the whole (financial) “system” will collapse.

Or our masters will print money.

Gold wins in either case.

That’s why gold is unique.

Our Detroit friends even dare to use the threat of domino-cascade collapses.
In that way, they are making sure that the prophecy of hyper-inflation will be fulfilled.

Ivo Cerckel

Morgan Stanley UAE wants a world where the USA dollar regime can continue to unilaterally export its hyper-inflations over the planet.

Last October, the United Arab Emirates (UAE) Central Bank, whose currency, the dirham, is pegged to the USA dollar refused to follow the USA central bank, the Fed, in cutting interest rates.

“Dollar peg pays off” headlines The National in Abu Dhabi this morning. (1)

The unexpected move has been successful “so far”, says The National, because the country’s economic needs differ from those of the USA. The UAE needs to keep a check on inflation
[Ivo: check on inflation – inflation which was exported to the UAE and the rest of this planet by the USA and its dollar regime]
while America needs growth, which is why the USA Federal Reserve reduced its key interest rate by half a percentage point in late October, argues The National.

What? There is no danger of inflation in the USA? Does The National really think that the USA bailouts can be financed in another way than through printing more unbacked paper money out of thin air (the metaphor of “printing” money is still being used for creating worthless digital liquidity representing “money” out of thin air)?

Economists have decreed that there is now shift of market sentiment allowing the UAE Central Bank to keep its key interest rate slightly higher than the Federal Reserve’s, says The National. The newspaper quotes Mohamed Jaber, an economist at Morgan Stanley, as saying that contrary to what was thought possible a few months ago, forward markets are now pricing in a depreciation of the dirham. I suppose that’s vis-a-vis the USA dollar to which the dirham is pegged. How is a depreciation vis-a-vis the USA dollar possible if the dirham is pegged to that worthless piece of paper?

And then it comes:
Standard economic wisdom dictates that maintaining a fixed exchange rate in relation to the dollar requires a country to mirror US monetary policy exactly, or risk creating a situation where speculators could borrow money in the US at lower rates and deposit it here for an easy profit. Such cash flows would be large and rapid, and likely to destabilise the economy.
However, despite predictions to the contrary, economists say the Central Bank seems to have been able to prevent such flows of money. The fact that the markets are now betting on a slight devaluation of the dirham during the next 12 months has allowed the Central Bank to maintain slightly higher interest rates than the US without inviting in large amounts of speculative money,
says The National

The refusal to follow the USA Fed rate cut was in October 2008.

And now, only two months later, the economists quoted by The National can already argue that standard economic wisdom has been turned upside down.

Dr Henry Hazlitt teaches that standard economic wisdom looks not merely at the immediate but at the longer effects of any act or policy; and that standard economic wisdom consists in tracing the consequences of that policy not merely for one group but for all groups. (2)

One thing is certain; the economists quoted by The National only look at the short-term consequences of the Central Bank’s decision not to follow USA interest rate cuts.

I am not sure that these economists will still hold the same view when the USA dollar will accelerate on its path towards hyper-inflation.

Yes, our American Masters are still thinking they will be able to subdue the monster of the USA dollar hyper-inflation.

This mastering by the USA of the imminent USA hyper-inflation will be one of the factors which will demonstrate whether the economists quoted by the National can be taken seriously when they argue that the dollar peg is good for the UAE.

If the dollar peg was really that good, why does the UAE not scrap the dirham and adopt the USA dollar? Because then it could not take independent interest rate decisions?

According to Mr Jaber, it is in the interest of the Central Bank to keep interest rates slightly higher, given that lowering them could add to inflationary pressures by making foreign goods more expensive, says The National.

Lowering interest rates would, I suppose, lead to the lowering of the exchange rate of the dirham, thus to higher USA dollar-denominated oil export revenues. Remember that Dr Hazlitt said that the art of economics consists in looking for the consequences of interest rates for ALL groups in society.

If the 29 and 30 December 2008 Muscat, Oman, Gulf Co-operation Council (GCC) Summit decides to pool the GCC gold reserves, make this pool the reserves of the Khaleej dinar and periodically mark these reserves to market (-price), then every increase in the price of gold will automatically lead to an increase in the price of oil.

By same token, the present indecently low USA dollar-denominated oil prices will immediately come to an end.

I am afraid, the UAE dollar peg, and the hyper-inflations unilaterally initiated by the dollar regime, will have to suffer the same fate and be relegated to the dustbin of history.

Ivo Cerckel
Siquijor, 11 December 2008

Malaysia, Russia and Europe want multi-polar world
December 11th, 2008 by Ivo Cerckel
http://bphouse.com/honest_money/2008/12/11/malaysia-russia-and-europe-want-multi-polar-world/
If this link does not work, try to copy and paste it in your browser.

NOTES

(1)
Dollar peg pays off
Travis Pantin
Last Updated: December 10. 2008 8:35PM UAE / December 10. 2008 4:35PM GMT
http://thenational.ae/article/20081210/BUSINESS/960292012/1005

(2)
Henry Hazlitt, “Economics in One Lesson”, New York: Arlington House Publishers, 1978, 2nd ed. (first ed. published 1946 by Harper and Brothers), p. 17
http://jim.com/econ/chap01p1.html

The 29 and 30 December 2008 Muscat GCC Summit will give the start to the process of re-establishing the link of money to gold.

During a 23 October 2008, Bloomberg TV interview former Malaysian Prime Minister Tun Dr Mahathir Mohamad reiterated his belief that governments worldwide should consider a new international monetary system that doesn’t depend on any single currency.
“You may have to use a number of currencies for trading purposes, or you may have to use a special trading currency, probably based on gold,” Mahathir said. “Gold has intrinsic value. Money has no value, just pieces of paper and government assurances.” (1)

Russia and Europe also want a multi-polar world that doesn’t depend on any single government, says Lorna Thomas in the 09 December 2008 Global Politician. (2)

It seems that the 29 and 30 December 2008 Muscat, Oman, Gulf Co-operation Council (GCC) Summit, where the 2009 Gulf Monetary Council (GMC), a precursor to the 2010 Gulf Central Bank (GCB), will be set up, will be adopting the Islamic gold dinar as reserve for its Khaleej dinar.  (3)

It was the same Dr Mahathir who on 26 March 2002 proposed that international trade balances be settled in Islamic gold dinar. The proposal included the proposal that the dinar be held as central bank reserve. (4)

The new international monetary system will thus definitely re-establish the link of money to gold.

As Dr Mahathir said on 04 December 2008, we are linked to the world economies via trade but that the Bretton Woods agreements, which linked the USA dollar to gold and all other currencies to the USA dollar, are no longer in force since 15 August 1971 when USA president Richard Nixon broke them. (5)

The 29 and 30 December 2008 Muscat GCC Summit will give the start to the process of re-establishing the link of money to gold.

Ivo Cerckel
Siquijor 11 December 2008

NOTES

(1)
Mahathir predicts further doom and no end to current financial crisis
http://202.190.175.188/index.php/malaysia/11053-mahathir-predicts-further-doom-and-no-end-to-current-financial-crisis

(2)
Russia and Europe want a multi-polar world
Lorna Thomas – 12/9/2008
http://globalpolitician.com:80/25307-russia-europe-united-states-foreign-policy

(3)
Islamic gold dinar, Oil, and Khaleej dinar – first exploration
Posted: 08-Dec-2008
http://blogs.zawya.com/goldiswealth/081208025939/

(4)
Mahathir proposes gold dinar as currency for international trade
Muslim News, Thu, 28 Mar 2002 08:10:32 -0000
http://www.freelists.org/archives/news/03-2002/msg00060.html

(5)
Dr M’s way to sustain brand
http://malaysianeconomist.blogspot.com/2008/12/dr-ms-way-to-sustain-brand.html