Report: Islamic State Circulating ‘Golden Dinar’ Currency to Collapse U.S. Dollar

Report: Islamic State Circulating ‘Golden Dinar’ Currency to Collapse U.S. Dollar

by EDWIN MORA8 Jul 2016

The coins are reportedly modeled after the dinar currency of the Caliphate of Uthman printed around 650 AD.
The currency has engravings bearing the words “Islamic State,” notes The Foreign Desk.

Citing reports on jihadi online forums, the news outlet adds, “The coins, currently being released in limited quantity, are to primarily be used by traders in the oil industry in areas under Islamic State control.”

“Activists in Deir ez-Zor, Syria reported oil traders have been ordered to use the new Dinar when purchasing from ISIS-held oil fields,” also reports The Foreign Desk.

The London-based Arabic daily Al-Quds Al-Arabi reportedly notes that the “Golden Dinar” is being circulated to replace the U.S. dollar.

“A German jihadi boasted that even as the U.S. and her allies continue to hound the Islamic State, the group has shown resiliency, rolling out the new currency in past days,” adds The Foreign Desk, citing an online forum.

“Golden Dinars” will “bring about the collapse of the U.S. dollar” and the “demise of the U.S.,” declared the German jihadi.
“The Golden Dinar is reportedly made of 4.25 grams of 21 karat gold, or approximately $163 USD at today’s exchange rate,” notes The Foreign Desk.

According to the images circulated late last month, there are two designs of the golden coins — one with a map of the world engraved, and another with sheaths of wheat, a Koranic reference.

The coins reportedly read, in Arabic, “The Islamic State” and “A caliphate based on the doctrine of the prophet.”

ISIS announced plans for a news currency in November, arguing that the new Islamic State dinar would liberate the Muslim world from the “satanic global economic system.”

The coins represent “a comprehensive project, by the grace of Allah, to mint a currency based on the inherent value of the metals gold and silver,” mentioned a statement allegedly from ISIS’s “treasury department.”

An ISIS currency would protect Muslims from becoming “easy prey in the hands of the Jews and Crusaders,” it added.
The Foreign Desk notes:

In a 2015 video release entitled “Dark Rise of Banknotes and The Return of the Gold Dinar,” the terror group laid out its manifesto for the Gold Dinar in a 55-minute video, envisioning its rise would herald the death of the “oppressive banknote,” bringing the U.S. “to her knees.”

The rationale behind their prediction relies on all global oil sales transactions being paid for with gold instead of dollars.

http://www.breitbart.com/national-se...se-u-s-dollar/

Gold dinars is not an original idea.

Saving the world economy from Gaddafi

Published time: 5 May, 2011 02:29
Edited time: 5 May, 2011 08:42

Some believe it is about protecting civilians, others say it is about oil, but some are convinced intervention in Libya is all about Gaddafi’s plan to introduce the gold dinar, a single African currency made from gold, a true sharing of the wealth.

“It’s one of these things that you have to plan almost in secret, because as soon as you say you’re going to change over from the dollar to something else, you’re going to be targeted,” says Ministry of Peace founder Dr James Thring. “There were two conferences on this, in 1986 and 2000, organized by Gaddafi. Everybody was interested, most countries in Africa were keen.”

Gaddafi did not give up. In the months leading up to the military intervention, he called on African and Muslim nations to join together to create this new currency that would rival the dollar and euro. They would sell oil and other resources around the world only for gold dinars.

It is an idea that would shift the economic balance of the world.

A country’s wealth would depend on how much gold it had and not how many dollars it traded. And Libya has 144 tons of gold. The UK, for example, has twice as much, but ten times the population.

“If Gaddafi had an intent to try to re-price his oil or whatever else the country was selling on the global market and accept something else as a currency or maybe launch a gold dinar currency, any move such as that would certainly not be welcomed by the power elite today, who are responsible for controlling the world’s central banks,” says Anthony Wile, founder and chief editor of the Daily Bell.

“So yes, that would certainly be something that would cause his immediate dismissal and the need for other reasons to be brought forward from moving him from power.”

And it has happened before.

In 2000, Saddam Hussein announced Iraqi oil would be traded in euros, not dollars. Some say sanctions and an invasion followed because the Americans were desperate to prevent OPEC from transferring oil trading in all its member countries to the euro.

A gold dinar would have had serious consequences for the world financial system, but may also have empowered the people of Africa, something black activists say the US wants to avoid at all costs.

“The US have denied self-determination to Africans inside the US, so we are not surprised by anything the US would do to hinder the self-determination of Africans on the continent,” says Cynthia Ann McKinney, a former US Congresswoman.

The UK’s gold is kept in a secure vault somewhere in the depths of the Bank of England. As in most developed countries, there is not enough to go around.

But that is not the case in countries like Libya and many of the Gulf States.

A gold dinar would have given oil-rich African and Middle Eastern countries the power to turn around to their energy-hungry customers and say: “Sorry, the price has gone up, and we want gold.”

Some say the US and its NATO allies literally could not afford to let that happen.

https://www.rt.com/news/economy-oil-gold-libya/