Honest Money

Gulf, Asia eye trade bloc based on food, oil
Jun 30, 2009 at 17:20
http://business.maktoob.com/20090000006605/Gulf_Asia_eye_trade_bloc_based_on_food_oil_/Article.htm
SNIP
Gulf Arab states and the 10-member Association of Southeast Asian Nations (ASEAN) moved toward building a trade bloc based on food and oil at a joint meeting of foreign ministers on Tuesday. UNSNIP

This is interesting as ASEAN is a Community which is being set up around a currency system and as, as a result of this new currency system, the International Monetary Fund (IMF) has no more role (to fulfil) except that of bailing out the US. The Gulf Co-operation Council (GCC) is also trying to set up a common currency.

As Professor of Corporate Strategy and International Business Linda Lim, Director of the Centre for Southeast Asian Studies at the University of Michigan, puts it in her Foreword to
Philip Kotler, Hermawan Kartajaya, and Hooi Den Huan, “Think ASEAN - Rethinking toward ASEAN Community 2015”,  McGrawHill, 2007,
private actions can and should initiate a process of market-led regional integration that is likely to be not just quicker, but also more efficient [than a government-initiated process], as a result.

There’s not only ASEAN.

There’s also ASEAN Plus Three, i.e., ASEAN Plus China, South-Korea and Japan and ASEAN Plus Four, i.e., ASEAN Plus Three Plus India.

China (’s central bank) is buying gold. Indians have always been gold lovers

Nothing prevents the Islamic World Plus ASEAN-Plus-Four from copying what the European System of Central Banks (ESCB) is doing and keep gold (the Mona Lisa) in the strong rooms (the Louvres) of its central banks and marking it to market price on a quarterly basis. Every individual in an Islamic World Plus ASEAN-Plus-Four nation would then be free to copy the concept of FreeGold. By the same token, the Islamic World Plus ASEAN-Plus-Four concept will have been made real in the minds of people.

Gold is hiding in oil, as oil is the only commodity in the world that is large enough for gold to hide in.
http://bphouse.com/honest_money/gold-and-oil/
(If the link does not work, try to copy it and to paste it in your browser)

FreeGold is the opposite of this absurd (virtual) situation.

The IMF wants its members to use/take its Special Drawing Rights (SDRs) as reserve.

Although some China officials say they also want the SDRs as reserve, it seems to me that We, the Muslim and ASEAN Plus Four - People in the know of the fact that the dollar-International Financial and Monetary System (IFMS) cannot be expected to start making the concept of gold-wealth-reserve public, want FreeGold as reserve.

In this situation, the IMF has no more role (to fulfil) except that of bailing out the US.

In this situation, FreeGold in the European (and the Islamic World Plus ASEAN-Plus-Four) Systems of Central Banks (EIWA4SCB – what do you think about this acronym?) have the same role to fulfil as the Mona Lisa in the Louvre.
A wealth reserve in the strong room (the Louvre) of a Monetary Union with a currency, the euro.

Every individual, not only the Islamic World Plus ASEAN-Plus-Four, is now free to copy the concept of FreeGold (Freely priced gold, no longer “fixedly” priced gold) as wealth reserve (no backing or redeemability).

Just like anybody can come to the Islamic World Plus ASEAN-Plus-Four and determine for herself what is the nature of the Islamic World Plus ASEAN-Plus-Four economy and can then appreciate and/or copy it.

The Islamic World Plus ASEAN-Plus-Four is a Community which is in the process of being set up around a currency system-in-the-make on euro lines.

Ivo Cerckel
honestmoney@maktoob.com