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Isis declares its own currency

  • Author:tracy
  • Source:http://www.tigloncn.com
  • Release on :2014-11-22

  Isis declares its own currency Its self-declared state has no functioning ministries, nor is it recognised by any government in the world.A statement on Wednesday by the al-Qaeda offshoot known as Isis, announced the launching of its new currency as a way to separate its self-declared proto-state from the “tyrannical financial system imposed on Muslims”.
  Although seeking to keep a distance away the international economy, the new currency’s underpinnings may make Isis’s economy even more heavily dependent on global fluctuations than most, particularly on precious metal and commodity prices. The highest-denominated 5 dinar coin is set to contain 21.25 grams of 21 carat gold, worth about $694, while its lowest-denominated 10 flous coin would contain 10 grams of copper and be worth about 7 cents. The proposed silver dirham coins would range in value from 45 cents to $4.50 at current rates. The purchasing power of the money they’re emitting will be wholly dependent on what the purchasing power of gold, silver and copper are
  The important thing is: where are they going to get the gold and copper? Isis will have to plunder more property through theft and war.”



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