Analysts trace the origins to the crisis in Asia to the Chinese and Japanese currency de-valuations. The Mexican currency crisis was the final trigger in confidence problems. It is not the currency speculators who are responsible for the Malaysian crisis. A government which blames speculators for the consequences of its unsound monetray policy is like a rancher who, having slaughtered his cows on the open plains, blames the vultures for descending on their carcasses. The monetary problems in both Malaysia and Indonesia have led to political problems.
Various solutions proposed are partial solutions.
One must attack the fundamental issue. If we go back to fundamentals we can see that the only complete solution is an Islamic monetary system, that is, hard money. The otherwise strong economies of Malaysia and Indonesia, combined with the low price of gold at this time, put them in an unusually good position to make a transition if they can muster the political will, or failing that the religious enthusiasm, to do what our religion mandates anyway. Let us begin by reminding ourselves of the origin of money. Primitive societies engage in barter.