When the House always wins
Who pays when elites play?
🚀 Programming note: I’ll be taking tomorrow and Wednesday off to decompress. Back on Thursday and hopefully fresher.
Meantime, today’s News, Ideas and Everything in between covers:
Johor crown prince Tunku Ismail’s stablecoin project
Khazanah’s Validus investment
The latest in Malaysia’s defence procurement (it’s been a while!)
First, ICYMI last Saturday’s analysis:
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Johor crown prince Tunku Ismail Idris’ (TMJ) stablecoin foray was the week’s main story.
TMJ wants to launch RMJDT, a digital token pegged to the ringgit, through his wholly-owned firm Bullish Aim.
Simply put, this will be cryptocurrency that promises to always be worth a ringgit and backed by cash deposits and short-term Malaysian government bonds.