Wednesday, June 24, 2015

No Seignorage: ISIS Now Minting Its Own Currency For Muslims To Live Outside the “Global System Based On Satanic Usury"

It is difficult to see these coins trading above melt value so, no seignorage markup for the murderous pigs.
From New York Magazine's Daily Intelligencer:

ISIS Has Its Own Currency Now
Eight months after announcing plans to mint its own currency, ISIS is ready to start issuing coins. Last November, the group said it wanted to give Muslims the opportunity to live outside the "global economic system that is based on satanic usury." It planned to do so with two gold coins, three silver coins, and two copper coins of varying denominations. Now photos have emerged of the ISIS gold coins — emblazoned with Arabic text, which translates to “The Islamic State — a caliphate based on the doctrine of the Prophet."...MORE

We've refused to call them the Islamic State and are considering going with Daesh:
...The term “Daesh” is strategically a better choice because it is still accurate in that it spells out the acronym of the group’s full Arabic name, al-Dawla al-Islamiya fi al-Iraq wa al-Sham. Yet, at the same time, “Daesh” can also be understood as a play on words — and an insult. Depending on how it is conjugated in Arabic, it can mean anything from “to trample down and crush” to “a bigot who imposes his view on others.” Already, the group has reportedly threatened to cut out the tongues of anyone who uses the term....
ISIS To Introduce Its Own Gold/Silver Coinage
No Seignorage For ISIS: Much Heralded Islamic Currency Fails to Materialize