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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: yard_man who wrote (32120)	9/2/1998 6:41:00 PM
From: Knighty Tin	Respond to of 132070

Tip, sounds like a non-event for anyone fortunate enough to not be Malaysian. MB

To: yard_man who wrote (32120)	9/3/1998 11:45:00 AM
From: Mark Adams	Read Replies (3) \| Respond to of 132070

What the heck does demonetarise mean? Cashless society? Debit cards? Extending his threat to Malaysians to bring back money from abroad or risk not being allowed to repatriate it, he said he planned to demonetarise the two largest bank notes to limit currency smuggling. This should prove worth observing just as an example of how things can progress in other situations. I do agree that in pure capitalism, if wealth becomes concentrated enough, the managers of that wealth can cause havoc and even set policy, contrary to the tenants of democracy. I don't think that Malaysia will be able to execute flawless policy decisions, so their capital controls may cost them long term GDP growth.