PRESS STATEMENT BY MOVEMENT FOR MONETARY JUSTICE

PRESS STATEMENT BY MOVEMENT FOR MONETARY JUSTICE
 
We refer to the article entitled “Rising Cost of Living is God’s Will says UMNO Leader” published by THEMALAYSIANINSIGHT.COM dated 10th December 2017.
 
This is only partially correct. Yes the Prophet s.a.w. refused to interfere when prices of some products increased in the market. This is because when the currency used is one with intrinsic value in this case gold and silver the sole reason for a price increase is a natural mismatch between demand and supply. However when the currency used is fiat, with no intrinsic value that in itself is a cause for inflation. Please visit us at mmj.my for an explanation on the phenomena. However we do not really blame the Minister for the statement because knowledge on the inflationary aspect of fiat currency is not generally understood by the masses. We do ask however for those who purport to rule the nation, from whichever side of the divide, to equip themselves with this knowledge. It is not unsolvable, the movement to end money creation by banks which is the principle cause of inflation today is now an international movement. In the UK this issue led by the NGO Positive Money is being discussed in the UK Parliament, as it is in many other Parliaments of Europe. We ask our politicians to take heed, lest they be trapped in the irrelevancies of discourse.

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