Islamic State Goes On The Gold Standard – IOTW Report

Islamic State Goes On The Gold Standard

The terrorist ruling parts of Iraq and Syria have announced the introduction of their own money; the dinar coin in gold, silver and copper.

 Islamic State Money

 They believe the new currency will allow them to be free of the “Federal Reserve dollar note.” 

Forcing the populace to only use their coins will make it easier to round up and execute those who horde and trade in the major paper currencies, while allowing fixing the value of their money to precious metals. 

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The downside, these metal coins should be counterfeited by the enemies of the Islamic State.

13 Comments on Islamic State Goes On The Gold Standard

  1. I read about this the other day over at Zero Hedge, and from what I understand, they haven’t even started stamping out the coins.

    The 55-minute or so video is nice and sort of confirms the Austrian School of Economics…so all the Guilt By Association nitwits can call all of us Free Marketeers terrorists!

  2. Good. Now let do what caused the Panic of 1896, the confiscation of gold by FDR in 1934 and Nixon to take us off the gold standard in 1974 – buy all their gold and bankrupt them.

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