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Several months before the 1997 monetary crisis, the whole world including the World Bank and the IMF praising the economic performance of East Asia, including Indonesia. Even the country's economy is fundamentally mention healthy and strong. Indonesia was dubbed as "New Tigers of Asia" because of the rapid progress in the economic field. But apparently, all that proud of such achievements mean nothing when the rupiah, Malaysian ringgit, Bath, etc., against the U.S. dollar falls plummeted in the international forex market. The effects of the collapse of currencies of Southeast Asian countries is quite extraordinary. Like dominoes, first affects only the number of imported products, but then spread to various sectors, the inflated prices of local products, bankrupting thousands of companies and millions labor.

Because the beginning of this crisis is clear. All this stems from a dirty game that is international currency speculators to bring down a number of currencies in Asia. One powerful speculators who have capital, and therefore most big role in this crisis, is George Soros through its financial management institutions. No wonder if the Prime Minister of Malaysia at that time, Mahatir Muhammad, states, George Soros must be responsible for the monetary crisis that hit several Asian countries began the second quarter of 1997.

Mahatir linking globalization with this crisis. Mahatir said, Once we receive and apply the globalization of economic freedom in our country, economy and our money to attack the great powers of world finance and those that are benefited by this system. Mahatir added that the results of 40 years of hard work just vanished Malaysian nation in a few weeks due to work some people and there is no international law than anything that can be used to deal with people like this.

Prime Minister Mahathir's remarks, "Trading money is immoral deeds. "The fact it shows that the currency trading or foreign exchange tend to harm the weak. Currency speculators did not hesitate to shake the stability of a country for their own benefit. In monetary cases in Indonesia, mid-year 1997 was a period when the payment of corporate debt-maturity private corporation with around 8 million dollars. Not to mention if the SOEs are also taken into account debt maturities and government obligations to pay the mortgage debt and related interest, which is big enough, which is around six billion dollars. That is, at that time, demand for dollars increases. At that moment, the currency traders bought the dollar and then sell at high prices. As a result, thousands of Indonesian companies went bankrupt, prices have soared so high that the number of poor people increased sharply, and the Indonesian government is now burdened with debts amounting to 1.5 thousand trillion rupiah.