ISIS announces new currency

From CNN:

ISIS is planning to mint its own currency in gold, silver and copper, the group said Thursday.

Its aim is to stay away from the "tyrant's financial system," ISIS said in a statement. It said it would issue another statement to explain the new currency's exchange rate, and where it can be found.

The currency will include seven coins: two gold, three silver and two copper.

The move is "purely dedicated to God" and will remove Muslims from the "global economic system that is based on satanic usury," ISIS said.

The group, which calls itself the Islamic State, has seized large swaths of territory in Iraq and Syria.

It seeks to establish an Islamic caliphate in the region
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Been done before:



Umayyad Caliphate Abd al-Malik AE Follis Standing Caliph
Obverse: Caliph standing facing, left hand on sheathed sword
Reverse: Steps, long pole in circle
Bronze, 20mm, 2.81gm, Struck AD 685 to 705

 

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Wonder how many dealers will be running over there or sending the homeless to get them some coins for early release certified designations? So far I see no eBay pre-sales.

 

I do not condemn coins for the rulers who struck them, but I would condemn collectors or dealers who support ISIS by buying any such items. Not that it matters, but my opinion of anyone who would support ISIS by purchasing any such coins will go immediately to zero or lower. Any dealer who dares buys from them I guarantee will never see one cent in sales to me EVER, and I will slander their name to the mountains.

 

No doubt the Treasury Dept will add them to the list of prohibited items, like DPR Korea, Cuba, Iran etc.

 

"The horror, the horror...kill all the brutes.." J. Conrad.

 

Like the common person who lives there will ever see a gold coin . Sounds like a scheme to raise money for their murderous ways .

 

Heart of Darkness. Few people I speak to actually enjoyed the novel. I found it wonderful.

 

My question is how much blood is going to be involved in the production of these coins. Are gold coins going to be made from gold filings / dentures?

As gruesome as it may sound - this has happened before in history.

 

I imagine they have a nice pile of gold bullion from looting Iraqi cities earlier this year.

 

I bet more are stolen by the higher officials than they sell.

 

There will probably be a rush to buy them just like there was the dinar 5 years or so ago. People don't think.

 

ISIS is making money better than most recognized countries are, selling looted oil, taxing bank withdrawals, taxing roads etc. I just fear that they are going to give the US government ideas.

 

Finally, a break. Going to get these for face value when ISIS folks arrive into my town.

 

Couldn't say it better myself.

Bruce

 

I'll order one... And mail them a check... With a little gift in the package...

 

The N-Bomb is so old though. I can only imagine what kind of weapons they have now! Hopefully these guys find out!

 

I should hope it never comes to the use of such weapons, and it's bad enough there are such terrible and terribly effective (less?) lethal ones so regularly in use in the world at any given time anymore. However, I do understand the severity of the threat and it's not easy to just say "no" to such war. One of the ideological problems with these fellows and all their provoking and poking the bears (the west) is that they are essentially a cult of death and so would all too readily welcome overwhelming force and the chance (excuse) to fight and earn their deaths. They want death and they want others to suffer it too. It may be more effective to deprive them of this. Perhaps.

 

I don't think anyone wants to find out ever. the people who only created these weapons have a relative guess upon the phenomenon that would take place. it could reap destruction across an entire continent for all we know. I think it is best that we never find out.
With that aside I think we need more weapons of mass creation instead of weapons of mass destruction.

As for this new currency I do think that a currency based upon precious metals is a good idea and should be adopted more so than paper money but I do question what the motives the islamic state has for creating such a currency. Most importantly where are they going to get the precious metals from? iraq,syria, and Afghanistan don't have the mining infrastructure to support such a thing. I wonder how this will all pan out.

 

Presious metals will never work as a currency anymore , there's just too many people and the economies are too large . Look at our Zincoln , it costs more to produce than it's worth . Now try that with gold and silver coins in a world with Trillion dollar economies . There's just too many coins in circulation . And not enough gold to back it .

 

Attempting to circulate precious metals is a wide open invitation for counterfeiters to test their skills to make profit.