ISIS Going Back To The "Gold Standard"

Tyler Durden's picture

It appears the terrorist organization known as Islamic State has been watching the fiasco of fiat money and reading Alan Greenspan and Ron Paul. As The Daily Mail reports, ISIS wants to introduce its own currency and plans to bring back solid gold and silver dinar coins in an attempt to solidify its makeshift caliphate. Around 1500 years after the Dinar was first introduced - made from pure gold and silver - ISIS plans to implement the change within a few weeks, changing changing from regular dinars and Lira to golden dinars and silver dirhams.

 

 

As The Daily Mail reports,

ISIS wants to introduce its own currency and plans to bring back solid gold and silver dinar coins, it has emerged.

 

The Middle East terror group apparently wants to introduce its own Islamic currency as part of its attempts to solidify its makeshift caliphate.

 

Militants are said to want to bring back the original dinar, which is an ancient currency from early Islam, and religious figures in Mosul and Iraq’s Nineveh province have apparently announced its return in mosques.

 

The currency known as the dinar, which once consisted purely of gold and silver coins, is today used by a variety of countries, but the coins are created from different materials to the originals.

 

However, the jihadi group is understood to be planning to return to the original gold and silver coins, which were first introduced during the Caliphate of Uthman in 634 CE.

 

...

 

While ISIS has yet to confirm the introduction of its currency, social media is awash with claims that leading religious figures announced the plans during recent prayers in Mosul and Nineveh province.

 

It is believed the terror outfit wants to use the independent currency in areas it controls as part of its war on the West.

 

The currency, which could be introduced within the next few weeks, will involve changing from regular dinars and Lira to golden dinars and silver dirhams.

*  *  *

 

It seems Alan Greenspan may have been on to something after all...

"Remember what we're looking at. Gold is a currency. It is still, by all evidence, a premier currency. No fiat currency, including the dollar, can match it."

*  *  *

Of course this will mean more physical demand - along with Russia and China - and so more price suppression by the West.

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JustObserving's picture

Another reason for the Nobel Prize Winner to bomb them to the stone age.  This barbarism cannot be allowed to stand.

LULZBank's picture

Who will be minting their coins?

Who will supply them the metals?

Will holding Gold and Silver make you a terrorist suspect?

Hamm Jamm's picture

The NWO will mint it for them... who else

kliguy38's picture

ISIS =GOLD heheheheeh I'm sure that analogy will not be lost..............

cossack55's picture

They best be careful.  That is why Saddam was iced.  Plus selling oil for gold.

Latina Lover's picture

Since the USSA created and controls ISIS, this means the war on gold is going badly for the banksters.  I smell a psyop to criminalize gold in the name of protecting 'us' against terrorism.

LULZBank's picture

The messiah cannot return until real money is established as the currency.

What do you think the money changers at the temple were changing (if everybody was using gold and silver coins)?

y3maxx's picture

Z H's Skistroni nails it...

"It could be even more F'd up if the West declares Gold as "terrorist" currency and prohibits all gold circulation. This would be the most perverse master plan. But this is still in tinfoil hat territory."

Arius's picture

That territory is going to be a NEW STATEc (isis or no Isis who really cares ... what is ISIS anyway anybody knows?) ... this is part of the program to establish credibility of the new Islamic State of Levante among the population ... simple

imaginalis's picture

Looks like a PR exercise.

Bullionaire's picture

Tylers,

 

Gotta change the title of this piece. "Gold standard" means fractional reserve gold backing of paper currency. These are gold coins, which are money.

 

Important difference.

0b1knob's picture

Gaddafi had an idea for a gold dinar too.   

http://rt.com/news/economy-oil-gold-libya/

Gaddafi sleeps with the fishes.

Save_America1st's picture

wouldn't that be some fucked up shit if we found out that along with China, Russia and India buying up all the West's gold and silver, that I-CIA-SIS turns out to be the other deep pockets scooping up cheap PM's from the Western vaults????  

anonum's picture

This calls for a war against precious metals! Oh wait...

SamAdams's picture

A bit of trivia - Denarius was a Roman coin around 100 AD.  These silver coins are the origin of the middle eastern currency Dinar, as well as the Spanish word for money, Dinero...

http://www.vcoins.com/en/stores/zuzim/172/product/vespasian_ar_denarius_extremely_fine_70_ce/310228/Default.aspx

outamyeffinway's picture

Gold for oil bitchez!!! Game changer!

The9thDoctor's picture

So when is APMEX going to start carrying these coins?

fallout11's picture

Further, despite Persia and Rome being in a near-perpetual state of war with each other for over 200 years, Roman denarii (compete with the head of the Emperor stamped right on them) were acceptable payment within Persia, and Persian gold and silver coinage was equally accepted within the Roman Empire. Why? Because, despite their origination, at the root, they were real money, and recognizeable as such.  

maskone909's picture

+10000 to latina lover way to read between the lines

rccalhoun's picture

and will isis dare operate on a balanced budget?

ParkAveFlasher's picture

and perhaps stoop to deflationary price expectations that are assumed with technological advances?  You mean they won't have to plan obsolescence and artificially slow the rate of innovation to match the inflation curve?  Expansion will be funded by equity?  Absence of counterparty risk?  Self-financing commerce?  State no longer sole intermediary in all transactions?  Diminished demand for usury?  War an act of highest risk?  GODLESS SAVAGES

Never One Roach's picture

I-SIS seems definitely suspicous if not downright terrist; it's requiring 20% down plus a solid verifiable job before handing out a mortgage on a new or pre-owned cave/mud hut.   Not only that, they grant student loans ONLY for STEM studies ... How dare they !!  Where are they going to get their womens studies majors? Basket weavers ?  Social workers ? 

 

 

Tall Tom's picture

and will isis dare operate on a balanced budget?

 

 

Sharia Law demands it.

 

Financialization is a Money Changing sin.

Son of Captain Nemo's picture

+10000 to latina lover way to read between the lines

Indeed!  We can visualize it now! "The breakfast of terrorists"!!!... 

Random house visits for anyone who is suspected of owning it that doesn't do their patriotic duty as a law abiding citizen to simply hand that barbaric relic over that now is synonymous with terrorism to the proper authorities!

And speaking of "terrorists?... "Wonder what this will do if Paul Krugman ever tries to bring back his idea for a $1 trillion platinum coin! 

nevadan's picture

I'm not sure what you mean by real money but as far as what they were changing, it was coinage other than the acceptable temple money that was only allowed for religious payments.

The moneychangers served an important function within the temple. They exchanged a person's foreign coins for a fee into coins that were acceptable within the temple. In many ways they were similar to a currency translation in foreign countries where foreigners have to translate their currency for a fee into the currency of the country they are visiting.

http://plim.org/1Moneychangers%20in%20the%20Temple.htm

Quite a racket evidently.


cannonfodder's picture

The original FOREX model?

HedgeHammer's picture

What do you think the money changers at the temple were changing (if everybody was using gold and silver coins)?

Just like today the money changers had cornered all monetary markets as they did back in the days of Jesus

of the pure silver schillings which was the only acceptable  tithing that could be used in order to enter the temple. So people making their way to the temple would bring bushels of crops, goats and cattle etc. to trade for ONE silver schilling. No other coin of that day was pure silver except the schilling and is why Jesus lost his temper and overturned the money changers boxes spilling the coins upon the steps of the temple. So the story goes.

HedgeHammer's picture

looks like half of my post was cut off somehow.

funthea's picture

Well, the story actually goes a bit further... Remember back to Moses and the Pass Over, well it turns out God wanted payment for all the first born males that were spared from that time forward. All good Jews were to make the trek to the temple from near and far. There, they were to sacrifice their first born male of every stripe, less that of donkeys and pigs, as they were unfit for sacrifice. In lieu of not sacrificing your unclean animals and sons, you were to pay a dowry or each, in the accepted temple coinage that could be converted from your other coinage, including schillings I believe. This is where the premiums came in and thus the den of thieves.

 

Funny thing thou, God promised all the proceeds from these doweries would go to Aaron and his decedents into perpetuity. Wonder what ever happened to that little arrangement?

Oldrepublic's picture

How did that temple money changing scam work?

Save_America1st's picture

@Latina Lover

That most definitely could become the issue.  Thought the same thing.

How completely fucked up is our world now that those of us who are for sound money and a monetary system backed by PM's that's outside the central banking fiat system are now going to be grouped right along with Al CIA-duh and I-CIA-SIS????

This now brings us full circle back to our own treasonous government labeling patriots, veterans, conservatives, Libertarians, Constitutional 2nd Amendment supporters, and Oath Keepers as "domestic terrorists". 

Totally FUBAR

mkkby's picture

By suppressing the price of metal, the central banks are assisting Isis, China and Russia in their goal to accumulate.  So by saving the petro dollar, we are feeding our enemies. But each day, the petro dollar weakens a little and our enemies strengthen a little.

Oh, what a tangled web they weave.

HyperinflatmyNutts's picture

This is the Jedi mind trick! Get the sheeple to think that Gold is associated with ISIS and terrorist, so that they will not run out and buy it.  Just like LL said a psyop but it can only slow down the Gold Tsunami not stop it. I dont care what they do, say, or what Law they pass I will keep stacking and will be proven right in the end.  "I'll give you my GOLD WHEN YOU PRY IT fROM MY COLD DEAD HANDS"

Tall Tom's picture

Look up "Blood Diamonds"

 

Some of the liberal sheeple stopped buying Diamonds as they were used to finance African Wars.

 

It removed a substantial demand and harmed the Diamond Trade.

 

They do not need remove all of the demand from Gold. Just some of the demand for Physical Gold will suffice.

Martian Moon's picture

Same for Kadafi

He was about to reintroduce the gold Dinar

It was going to be a revolution for Africa

BTW any word on what happened to Libya's gold reserves after they were democracy bombed

cynicalskeptic's picture

 

'BTW any word on what happened to Libya's gold reserves after they were democracy bombed?'

Didn't it go to Venezuela after they asked for THEIR gold back? ..... only to be 'lent out' to Goldman Sachs after the Venezuelan economy colllapsed (mere coincidence, right?)

Martian Moon's picture

I know the Libyan rebels started a central bank the day after they took over

Of all things a group of illiterate rebels would think of doing

I figured they would go for the gold if they were legit, not if they were bankster muppets

Never heard of the gold again, I figure the banksters got their hands on it

I heard the Venezuela / Goldman Sachs story but I don't think it links to Kadafi's gold

 

Latina Lover's picture

Banksters must really hate gold to equate it to ISIS, their frankenstein creation.

Tall Tom's picture

They do not hate Gold. They want to control Gold...so that they may continue with their fraudulent paper hanging.

 

They want the Gold. It is not tradition that they store it in vaults.

 

Private Ownership is the proverbial Fly in the Ointment.

Boeing Boy's picture

Rothschild bankrolled Britain France and Germany in the Great War, I see no conflict of interest here....

Sean7k's picture

How do you consolidate individual stocks of gold and silver? Require they be used as contributions at the Mosque. Temples become collection points. See India. Has NWO all over it.

JustObserving's picture

In the land of the free, if a cop stops you and finds gold in your car, he can legally keep it along with any cash.  Only $2.5 billion liberated from 62,000 cash and gold-holding terrorists in the land of the free. Your friendly cops keeping America safe from ISIS influence and safe for the banksters.

Police have rare privileges in a fascist, police state

Buster Cherry's picture

When it happens to you, be sure to get the cop's name and find out where he lives.

A few years down the road, exact your revenge. There are many ways to do it.

 

"Revenge is a dish best served cold" - Khan

A Nanny Moose's picture

just get a damned dash-cam. Record everything.

nc551's picture

'just' ?   Maybe you missed the trove of civil forfeiture articles from alternative news sources of late.  It would be like recording a legal traffic stop.  No recourse.  They have permission to steal from you now.  Name, badge #, and where they live indeed.

jerry_theking_lawler's picture

Fuck that. Some piece of shit 'peace officer' stick their hands in my vehicles without a warrant will come back with a bullet holes all over them. Don't hear of this happening too much in areas with easy to obtain conceal or open carry laws.

layman_please's picture

have to agree with you here. the citizens have to be as vigilant in enforcing the liberties as the government is in its coercion of the laws. nobody else will do it for you. you still have the constitution no country can even dream of and you are just watching it being pissed on. fucking crybabies.

cynicalskeptic's picture

Texas is one of the worst offenders when it comes to civil forfeiture - onw town made most of its budget that way....

so much fo freedon loving Texans - they want THEIR freedon but the hell with anyone else's.....

tmosley's picture

Terrorists.

Terrorists.

Yes.