In a move applauded by some local Muslims, the state government of Kelantan said it was introducing a new monetary system featuring standardised gold and silver coins based on the traditional dinar and dirham coins once used by the Ottoman Empire.
Amazing how gold and silver continue to pull themselves from the "official" monetary trash bin. If you think a standardized gold and silver monetary system will mark the return of monetary Utopia, you probably have heard of the phrase "he got clipped", or the act of coin clipping.
A standardized monetary system must be "flexible" or tied to some measure of international liquidity, or repeat of the Great Depression with confiscation of gold would be inevitable.
Source: blogs.ft.com
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