Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Currencies and the Global Capital Markets -- Ignore unavailable to you. Want to Upgrade?

To: Henry Volquardsen who wrote (324)	7/2/1998 11:19:00 AM
From: Jerry in Omaha	Respond to of 3536

Henry, Be careful! That <<quasi religious, xenophobic group>>may contain friends of my Malaysian in-laws. :-\ Thank you for your observation regarding the origins of this information and your suggestion that it may be dismissed as not practical or workable because of the fragmented, auto-alienating, world of Islam. But didn't everybody used to say the same about Europe? I have posted before about issues of consolidation and fragmentation. This is another example of a specific issue where these forces may play themselves out. I am not so dismissive of the potential for the world of Islam to consolidate around the issue of currency itself as a long term goal; an economic crusade against the consolidated currencies of Europe. All significant movements are spawned on the periphery from fragmented fringe elements. The fact that most never reach positions of centrality shouldn't distract us. Some do. The question is; which ones? The consolidation power of religion is a well documented historical fact. Add to that power the increase in global communication and the rapid expansion of economic globalization, who knows? Stranger things have happened. <<Also for what it is worth I do not believe a gold standard makes any sense.>> One of the other features of alliance to a religious perspective is a certain abandonment of what you and I might term rationality. Renting-to-own does not make any sense either, but that doesn't mean there aren't guys driving new luxury cars out there enjoying a windfall from such economic non-sense. I confess I don't know, Henry. The chances overwhelmingly are that you are correct in your assessment. Your response has prompted me to investigate further and query the family for more information. A dominant world religion with it's own money! If you can't beat 'em join 'em! I think it's a great idea. Of course there's bound to be competition. I can't wait to see the Catholic currency from the Vatican. Think about all the art work they have hoarded! Poor Ben Franklin could never compete. Jerard

To: Henry Volquardsen who wrote (324)	7/2/1998 8:57:00 PM
From: Stitch	Respond to of 3536

Henry, <<Also if the Islamic Mint does not become associated with a specific government or group of governments then it will be little more than a private bank issuing paper reportedly backed by gold deposits. Some people may be interested in holding these but I seriously doubt it would find wide spread acceptance as a medium of exchange.>> I could not agree more Henry. A billion Muslims aside there is still the world to contend with, more increasingly so every day. And Kelantan, quite frankly, is a hot bed source for Islamic thinking more in line with the more strident middle eastern variety then in the rest of the Malaysian states. Interestingly these Malay Muslims are a source of displeasure with UMNO and Mahatir which somewhat aligns them with the drift of public opinion about him these days, especially in the western press. But not for reasons that share any similarity I am certain. Islamic banking is an interesting issue. There is much about western commerce that seems to put it in confrontation with Koranic law. Therefore for the Islamic businessman there may be very real hurldles presented by the "globalization" of commerce that run deep. However I am not too concerned frankly. There is a rich history of Islamic trade with the outside world. I doubt that hurdles such as these cannot be overcome. <<Also for what it is worth I do not believe a gold standard makes any sense. I'll post a longer response on the my reasons for distrusting a gold standard at some future point.>> I am very much looking forward to your comments on this subject. best, Stitch