ISIS embrace of gold could mean government will come for yours
by Kelley Martin
The Islamic State terror organization has recently vowed to take down the U.S. financial system with the introduction of a new gold-based currency system that the jihadist group claims will undo “America’s capitalist financial system of enslavery.”
The terror group announced its war on the U.S. dollar in an hour-long video titled “The Rise of the Khilafah and the Return of the Gold Dinar,” which was released Saturday.
According to the video, ISIS leaders are working to produce gold dinar coins worth the equivalent of $139 and several other denominations of silver, gold and copper coinage marked with Islamic symbols.
The goal, the video said, is bringing down the U.S.’s “capitalist financial system of enslavement underpinned by a piece of paper called the Federal Reserve dollar note which they alone printed and imposed on the rest of the world.”
“One of the great forms of corruption that the world came to witness was the dark rise of banknotes borne out of the satanic conception of banks which mutated into a fraudulent … financial system of enslavement orchestrated by the Federal Reserve in America, a private corporation and system that would, through the use of deceit and force, deprive people of their due by imposing on them the usage of the piece of paper that came to be known as the dollar bill,” the narrator said.
“It is the Federal Reserve banknote that they alone print and would go on to replace gold and silver which Allah created as the standard mediums of exchange for the purchase of goods and services,” he added.
ISIS vows that it will conduct all of its oil trade in gold.
The video contains a historical accounting of the rise of the Federal Reserve bank and the United States’ abandonment of the gold standard. The terror group even included in the video a clip of former Congressman Ron Paul arguing in favor of the gold standard in 2007.
“People’s money being stolen, people who have saved. They’re being robbed. If you have a devaluation of the dollar at 10 percent people have been robbed of 10 percent,” Paul said.
Whether ISIS’s gold experiment will be successful for the terror group remains to be seen, but it’s worth noting that using gold to thwart U.S. wishes in the region is not a new concept in the Middle East. As recently as 2013, Iran accepted payment for oil sales to India in gold to thwart a Western embargo.
The news of ISIS’s gold embrace could spell bad news for U.S. gold bugs and Federal Reserve critics, as it could give Homeland Security officials could take the announcement as an opportunity to target American advocates of a return to the gold standard, gold investors and preppers who often store large quantities of physical gold as a hedge against economic collapse as terrorist sympathizers.