Gold bug, thy name is Islam

December 1, 2010

No more Bretton Woods for Mahathir

Former Malaysian prime minister Mahathir Mohamad has spoken out within the past month saying that trading paper currencies is silly, and that we should return to the gold standard.  A few old school American politicians take a similar position, and there’s growing interest in restoring some type of global standard to currency markets.

That being said, the antipathy toward paper currencies has special resonance in the Islamic world.  Mr. Mahathir is a longtime advocate of the gold dinar movement.  As we have noted before, Islamists are uncomfortable with fiat currencies, and they prefer using the same type of money that their prophet did–gold and silver coins.

Why is it that every financial downturn becomes an excuse for deepening the Islamization of world financial markets?

One comment

  1. devout christians like metal currencies also. good luck in finding the discipline to implement the metal currency. if it were ever done, islam would embrace freedom more than america does today. the cheaftons of islam would NEVER allow that.

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