Ramsey has made plenty of headlines in recent months with the Gunners failing to agree a new contract with the Welshman.
The Wales international is out of contract at the end of this season, meaning the midfielder can leave the Emirates for free.
The 27-year-old has been locked in talks with Arsenal over a new deal but with negotiations stalling, Ramsey’s future is up in the air with clubs likely to come knocking in January.
The midfielder scored a stunning goal in Arsenal’s 5-1 win over Fulham at the weekend, rounding off a neat team move with a deft back heel.
In his celebration he appeared to shrug his shoulders as he acknowledged his supporters and plenty feel it was his way of sending a message to manager Unai Emery and the board to agree a new contract.
And Keys believes Arsenal can’t afford to let someone of Ramsey’s talent leave on a free.
“I’m still not sure what to make of The Gunners,” he wrote in his blog.
“Yes, they’re on a fantastic run, but let’s not forget, they lost their first two – against Chelsea and City – and they haven’t really had a test since.
“Look, Emery is obviously having an effect, but they still look soft centred to me.
“Let’s remain positive though – they played some wonderful stuff at Fulham and Ramsey’s goal was a joy – from back to front.
“His gesture on scoring was interesting. Did you see it? He opened his arms and looked totally puzzled.
“Was it a message to Emery? Almost certainly.
“What are Arsenal thinking letting this guy walk away for nothing at the end of the season? It’s madness.
“A committed, professional, one-club man is so rare these. In Ramsey, Arsenal have got one – and they don’t want to offer him a new deal? It’s crazy.”
Ramsey will be hoping to impress on international duty this week when Wales take on Spain and the Republic of Ireland in the UEFA Nations League.
The midfielder’s next game for the Gunners will be on Monday, October 22 when they host Leicester City at the Emirates (8pm).