Theft of Nations
Returning to Gold

By Ahamed Kameel Mydin Meera
September 2004
Pelanduk Publications
ISBN: 9679788903
198 pages, Illustrated, 5 " x 8 "
$24.00 Paper Original


Since the demise of Bretton Woods in 1971, it is increasingly evident that the interest-based fiat monetary system is at the root of many global financial and economic crises, unbalanced development and the rising world indebtedness facing third-world countries. In 1776, the famous political economist, Adam Smith, in his classic work, The Wealth of Nations, expressed concerns about how to create and make possible the best use of wealth.

But unfortunately, the wealth of nations, created by the hard work of millions of people, is being unfairly plundered through the international fiat monetary system. This book is a critique of the interest-based fiat monetary system. It highlights the many shortcomings inherent in it, with regard to stability and justice. It reasons why the system is unsustainable, yet an easy tool for economic colonialism that had promoted the "theft" of individual nations by global power structure.

The fiat monetary system has now brought the world to a unique crossroads in the history of international monetary system. The major economies of the world, i.e., the United States, Europe and Japan, are simultaneously showing signs of distress as never before, thus threatening the global economy with tremendous uncertainties. As for solutions to the global monetary problem, two major movements seem to be taking place. One calls for the establishment of a global central bank with a single world currency, while the other, for the return to real money systems (as opposed to fiat money systems) like gold, commodity monies, complementary currencies, etc.

This book is with the latter, favoring real money systems like the gold dinar concept mooted by Dr. Mahathir Mohamad as a way out from the fiat money debacle and for strategic positioning in the current era of globalization and neo-liberalization. It also provides models for using gold in international trade settlements and domestic payment systems.

Economics

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