Australian-Coins Forum

World Coins, Banknotes and Exonumia => World Coins => Topic started by: kchan1111 on November 16, 2014, 07:56:33 AM

Title: Isis launches new currency
Post by: kchan1111 on November 16, 2014, 07:56:33 AM
http://qz.com/297102/as-isil-launches-one-a-short-guide-to-creating-your-own-currency/ (http://qz.com/297102/as-isil-launches-one-a-short-guide-to-creating-your-own-currency/)

Looks crap imho.
Title: RE: Isis launches new currency
Post by: Goldseeker on November 16, 2014, 09:42:54 AM
Stay clear of that rubbish me thinks.

Would it be worth the metal it is printed/minted from?
Title: RE: Isis launches new currency
Post by: Triggersmob on November 16, 2014, 10:40:22 AM
I would like to have one of each coin in my collection eventually, the same as I collect any other world coins including Hilter's Germany. Having said that, I would not fork out money for them now if it supported ISIS in any way.
Title: RE: Isis launches new currency
Post by: nealeffendi on November 16, 2014, 12:56:31 PM
I agree with Steve. Do not try to obtain one until ISIL is destroyed otherwise you will be helping to finance their evil.
By the same token (pun intended) I do want to add this to my P.O.W & concentration camp  money, 100 trillion Zim notes and swastika coins.
Title: RE: Isis launches new currency
Post by: Sapyx on November 16, 2014, 02:46:59 PM
I have yet to see any evidence that these "coins" are anything other than a gimmick being proposed by a sympathiser living outside of the territory ISIS controls. Much like the "Kurdistan" coins issued a few years ago by an American citizen of Kurdish descent. As far as making circulation coins, I'd believe it when I see it.

Still, it is no surprise to me that ISIS (or people purporting to speak on their behalf) are making such suggestions, for ideological reasons. The weight and fineness of the gold "dinar" and silver "dirham" are laid down in Sharia law. And this particular branch of Islam also teaches that zakat, the obligatory almsgiving of 2.5% of your wealth per year, cannot be given using credit cards, IOUs or other forms of debt - and modern pieces of paper money are considered such forms of debt. Under this strict interpretation, zakat must only be rendered either using "good money" (Sharia-legal dinars and dirhams) or in kind.

I suspect that if the starry-eyed zealots of ISIS actually try to implement a bullion-only monetary system, they would very quickly learn the impossibility of attempting to issue "good money" in the middle of a warzone. Gresham's Law will trump Sharia Law, every time. It's why the Caliphate stopped issuing legal dinars and dirhams hundreds of years ago.
Title: RE: Isis launches new currency
Post by: nealeffendi on November 16, 2014, 04:06:00 PM
Greshams Law doesn't always work that way. If you have to pay your Dhimmi tax (on pain of death) in their coins then you will buy them and use them. No different than Americans having to use FRNs to pay the IRS, you may not want that money but you have to have it.
Title: RE: Isis launches new currency
Post by: Fulvio on November 16, 2014, 11:57:14 PM
Never fear, we'll drag 'em kicking and screaming into the 12th century yet. ;)
Title: RE: Isis launches new currency
Post by: ginkaku on March 03, 2015, 10:58:26 AM
Agree ... stay clear for now.
Title: RE: Isis launches new currency
Post by: robbiegal on March 03, 2015, 05:50:46 PM
welcome Ginkaku