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ISIS to mint its own currency, coins in gold, silver and copper

Falasa (copper) Dirham (Silver) Dinar (Gold)
The ISIS new currencies as released by Diwan al-Mal ((an equivalent of a present-day ministry of finance) Falasa (copper) Dirham (Silver) Dinar (Gold)

Baghdad (IraqiNews.com) On Thursday ISIS announced its plans to mint its own currency in pure gold, silver and copper material and circulate it in the areas it controls.

In a statement released by Diwan al-Mal, an equivalent of a present-day Ministry of Finance, ISIS announced that it will mint its own currency from pure gold, silver and copper, and that it will issue another statement to explain the exchange rate of the new currency, and where it can be found.

The statement also said that the currency will include 7 coins: two gold, three silver, and two copper.

Noteworthy, British newspaper ‘Daily Mail’ reported earlier this week, that the Jihadi group wants to use an independent currency, known as dinar and dirham, and that both the dinar and dirham will be made from pure gold and silver.

ISIS statement issued on Thursday - the 15th of November by Diwan al-Mal (an equivalent of a present-day ministry of finance)
The statement was issued on Thursday – the 15th of November by Diwan al-Mal

 

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13 Comments

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  1. I will buy one . Somethings evil and bad like ISIS never can not be forgeten . In my life i didnt see something more disgusting .before Isis was Russian mass killing Ukraine people with hunger ( holdomor ) .

  2. funny how they go on about those capalist nations, but drive to take oil, land, sell people, things they stoled and now making money so they can buy stuff the Kauffers produce. Pagan money with Islamic symbols. I

  3. Will they be stealing peoples gold and silver jewelry and melt it to make the coins? As far as I know IS has no gold or silver reserves at all. Will IS buy a few tones of gold and silver? Where? Who is the seller? Who will be producing the coins? Who will guarantee that the coins are pure metal? Where is the IS central bank? To me it seems like a silly kids plan. You ought to be an idiot to believe in it 🙂

  4. Greg, could ir be 1 billion US$ in gold bars in Mosul? Was the Iraqi central bank gold reserves in Mosul? If not it sounds quite strange. Anyway, it has been talked about more or less 0.5 bbl USD stolen, mostly in money and some gold http://www.telegraph.co.uk/news/worldnews/middleeast/iraq/10899995/ISIS-half-a-billion-dollar-bank-heist-makes-it-worlds-richest-terror-group.html .
    If IS is able to produce an appreciable quantity of gold coins, the coins would be out of their hands in no time. People using the coins would be using them to pay for food, medicines, services, machines, spare parts, etc, and a few people would try to hoard them. The gold would be sold at “budget” price (if it still exists).

  5. Why worry about what ISIS is doing in terms of gold, money and so on? If no one in the sane world trades with them then……………?! They are doomed.

  6. Joan, there is always a market for gold and silver. But it is true. They are doomed. I think that it is a question of a few months. First, they will not be able to fund their operations; second, the air strikes will take a heavy toll on their fighters.

  7. you people don’t get it!! it isn’t legel currency. the gold is the only value in it as far as buying and saling as a currency it is worthless because it is not a legal currency the only thing the bills are good for it paper for you A$$ after taking a $HIT. They can’t but anything with it. according to what i read on the IMF, WTO, ect.. only a country can have a legal currency not a group or any single person ISIS is not a State or country. they are a group of people that want to take over a state and country this is call treason

  8. @Al. Gold and silver are not FIAT currency (paper money). Precious metals always have their market value. They are a comodity. What happens is that people would not be using a coin but a given quantity of gold and silver in exchange for other goods. As I said before, the gold and the silver will find its way out of the exchange circuit very fast because people will tend to hoard the coins or exchange them for goods produced outside the region.

  9. Aside from some bad social skills Isis is trying the hardest to take back control of their country,had it not been for the u.s. the current government would have never become……
    I’m sure all in that region would have preferred the 1970’s government they had there,before the rest of the world went in and industrially and politically raped them……I just hope someone
    that has the power ,has enuff sense to try and rectify the world standing they had back then
    so they mite possibly forgive us,before it is to late.

  10. The gold coins will all get melted down and sold for some real currency — like US dollars. Of course, the penalty for doing that will be getting your head chopped off.

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