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Strategies & Market Trends : Currencies and the Global Capital Markets
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To: Henry Volquardsen who wrote (320)7/2/1998 8:26:00 AM
From: Jerry in Omaha  Read Replies (2) of 3536
 
Henry,

Given the fact that there are a billion Islamic persons on the planet
how much weight do you give the following?

"A new form of currency based on the age-old principle of 100% precious
metal backing is being launched. Arrangements have already been made
for the manufacture and distribution of this currency. The potential
impact of a new non-fiat currency which may become popular amongst the
world's many muslims is not insignificant, yet there is practically no
reporting of the subject in the news media. It is obviously a topic
worthy of discussion! There are, I am sure, also many non-muslims who
would support a currency free from government fiat and financial usury."

The full report users.dircon.co.uk
describes the creation of a gold backed Dinar and a silver backed Dirham.
It goes on to say:

"All the Directors of the Islamic Mint are gathering in Dubai to
establish the first Islamic Wakala (Agency) of Dubai. This institution
will support the use of the Islamic Dinar as world currency by enabling
anybody to open accounts in Dinars and Dirhams, thus allowing account
holders to make payments to other account holders from anywhere in the
world. This is another step towards returning towards a real currency.
The response so far is being overwhelming."

Comments anybody?

Jerard
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