Youth and Sports Deputy Minister Wan Ahmad Fayhsal Wan Ahmad Kamal suggested that Bank Negara print more ringgit notes to give to the people to spend.
Does Wan Fayhsal know history and how during World War II, the Japanese Occupiers simply printed currency without checks in Malaya? That led to high inflation and the subsequent worthlessness of the Japanese printed currency and thus the nickname “banana money”?
Does Wan Fayhsal also not remember the hyperinflation in Zimbabwe where a “One Hundred Trillion Dollar” bank note actually existed due to lack of control over their currency?
Perhaps Wan Fayhsal should explain how the government can strengthen the Ringgit to catch up to neighbouring currencies like the Brunei Ringgit and the Singapore Dollar? These currencies were once on par with the Malaysian Ringgit but it now takes more than three Malaysian Ringgit to exchange for one Brunei Ringgit and one Singapore Dollar.
So if Wan Fayhsal feels the all rounded solution to the people’s woes is to simply print more money, I seriously feel sad for the current leadership of the country.
Wan Fayhsal should just resign to spare Malaysia his logic.
CHRIS LEE CHUN KIT
PULAU TIKUS ASSEMBLYMAN