Pegging the Ringgit

Last Saturday, there is a suggestion from the former prime minister on pegging the ringgit. But it was rejected by the new finance minister, and also the explanation was given by the Bank Negara Governor Tan Sri Dr. Zeti Akhtar Aziz. I was not very sure about how's really this pegging will work out and what are the impact or the risk if we implement it. (Maybe the concept is it will save our ringgit from dropping to the ground but at the same time it is difficult for the value to increase).

However, after reading the former Prime Minister post in his blog (www.chedet.com) entitled Pegging, I found out that once again Tun have come out with some brilliant idea, which is to demand trading to be made in Ringgit Malaysia, not the USD. Some parties should study on this idea and in my opinion, it is not impossible to be done.