Resurrection of The Islamic Gold Dinar:
The Moral Imperative From
The Muslim Perspective As Perceived In The West
J. Kent Willis
December 2, 2004
NOTE: DO NOT TAKE THE COMMENTS IN THE FOLLOWING PAPER OUT
OF CONTEXT FOR ANY REASON WHATSOEVER. WE ARE NOT DEFENDING THE
CAUSE OF MILITANT, VIOLENT, CORROSIVE ISLAM IN ANY WAY, SHAPE
OR FORM. We are, as good citizens, desperately trying
to understand their mindset, tactics and possible permutations
of their belief system and how it affects all of us. Our primary
objective is to truly grasp the "big picture" that
so many financial pundits absolutely miss. We are not in blind
pursuit of material profit. We seek to protect ourselves from
the insidious cancer of terrorism and its manifestation in the
world's economy. There are no "pockets" of insurgency.
This battle truly is everywhere. Our approach in this paper
is as follows: we are aware that some of our readers may not
be interested in the detailed examination of either the Judeo-Christian
Biblical passages or the actual specific Koranic references that
support our study. These references are in a separate "appendix"
which is NOT included in this paper. Any reader who is interested
may contact us by email
for the omitted material once it is completed.
As a fellow sound money proponent
I enjoy reading the numerous thought provoking and well-researched
articles regarding anything of interest to the "gold-as-honest-money"
community. I have been studying the issue of the resurrection
of the Islamic gold Dinar as a viable means of international
trade settlement, e.g. for national balance of payments (BPA)
as well as a legitimate mechanism for initially undermining and
ultimately bypassing the hegemony of the US Dollar (USD). Articles
by Jim Sinclair, Tim Wood, Jullian Phillips, Jay Taylor and others
have appeared in the
gold community related websites. I don't wish to duplicate any
of their efforts; there are many fine contributions archived
for reference. I have simply tried to tie everything together
and place it in a macro context for the reader. Hence the justification
for another paper.
The utility of the internet
to study the current trends and political implications of any
such threat to the dollar is without equal. Very few understand
the horrific implications of the wholesale bypassing of the USD
by the rest of the world. Regardless of how Americans view our
lovely, crisp, counterfeit-resistant (to everyone but us!) IOU's
provided almost free by the Federal Reserve, the opinion of the
rest of the world regarding their value will ultimately determine
our economy stability, military success, way of life and our
place in history. Will it be a worthy epitaph? Or shall we reside
in disgrace in the rubbish heap alongside the vulture-picked
carcasses of every other banana republic who believed they could
have lasting prosperity by issuing ephemeral fiat?
Let me say at the outset that
although I have studied the Koran for several years I am neither
an expert in the Koran nor intimately familiar with Islamic culture.
I have been a zealous student of the Bible for over 25 years.
I am simply piecing together the comments that appear in numerous
English language Arab-origin websites and newspapers so I can
walk a mile or two in their sandals. For the past several months
I have been going directly to the horse's mouth and studying
both the technical details under discussion as well as the political
commentary originating in the Arab/Islamic world. Of course I
can only research the musings which are in English.
This Is No Game. The Stakes Are Very
The momentum, determination
and sense of world destiny among the Islamic people regarding
the repudiation of most of western ideals as epitomized in the
concept of an almighty dollar is likely to roll over and crush
any who are unprepared. I am heartened by the Judeo-Christian
faith and belief in the Bible by many of those who view gold
and silver as essentially the only good, just, honest and righteous
medium of exchange. Clearly the majority of the men and women
who frequent gold-bug websites are those who embrace specific
nuggets of Biblical wisdom. They instinctively recognize the
degree of success (i.e., the measure of peace and prosperity)
or longevity of any government (and hence the economic society
which develops under that rule of law) is directly proportional
to the extent in which they embrace fiscal truth, educate their
citizens about money and enforce these simple rules. Honest,
logical, sober minded and reflective men penned our great Constitution.
God bless them. May all men and women who inherit their power
and authority by democratic vote act with the same conviction
and discipline. God help them.
All students of financial history
are aware of the economic ruin which follows every nation without
exception that debases their currency in pursuit of national
pre-eminence. I love my country and thank God that I was born
here. For these reasons I am greatly concerned about the eventual
consequences of rejecting history. I believe it is dangerous
to reject Biblical wisdom and quite frankly, "logic"
with regard to monetary integrity. God is the sole author of
true wisdom. Men profit greatly by simply reading, meditating
upon and practicing the principles freely given to all by an
incomparable, generous God who knows what He is doing. Every
faithful Christian, Jew, Muslim, etc., shares this common belief.
Some, regrettably, combine misdirected passion with the ageless,
bitter bromide that "my God is better than your God."
All men of unquenchable faith should believe such; it is the
true essence of their zeal. That faith motivates them to either
cleanse their own heart (in the case of the righteous) or purge
the blood of others instead. One is infinitely easier to accomplish.
My basic premise is thus: Truth
is universal. Wisdom (defined as righteous application of truth
refined through experience) will benefit all men regardless of
their culture, systems of political thought, ethno-centric bias,
flavor of government, language, skin color, etc. The same set
of universal rules (a la Adam Smith's "unseen hand")
will benefit all men. The smallest unit of society (little more
than a single family) or the largest behemoth of the democratized,
modern west are successfully established and maintained by the
same core principles. Deviation from that foundation is ultimately
destructive, regardless of the economic prowess, military might
or grandiose cultural and technological achievements of that
society. Every "gold and silver as honest money" patriot
accepts this as self-evident. Even if they reject the idea that
any "religious" book is the source of this wisdom.
Everybody agrees that truth, whatever it is, is unifying, and
that error or folly (market, political or personal) is by nature,
divisive. The endless debates have always been about just what
is "truth." The differences which lead to polarization,
hatred and bloodshed are all centered around the debate that
one collection of sacred writings is superior to the others.
Such debates lead naturally to the calculation of "righteous
penalties" that should be meted out to those that disagree
and blaspheme the sacred texts. The problem is therefore in the
hearts of the men; not in the principles the books have in common.
Great and scholarly authors
often quote other men when illustrating their points. We see
things like "...John Maynard Keynes said..." or "Adam
Smith noted this..." or "Murray Rothbard described..."
"Von Mises taught that" or "H.L. Mencken remarked
so and so...." As a highly educated product of the
U.S. university system (with majors in Applied Science &
Engineering, minors in Mathematics, Philosophy, and Economics),
I recognize all of these gifted thinkers and give them their
just due. I appreciate pretentious humbugs as much as anyone!
But twenty-five years of study of the Bible leads me to one indisputable
fact: if any writing of man is true, just, wise or beneficial,
it has an ultimate original source in something that God already
said long, long ago. Therefore I must give God, not man, the
Interestingly, there are many
passages in both the Bible and the Koran which share the same
foundations of justice and integrity regarding fair dealing between
people. Any serious student of both the Bible and the Koran
recognizes countless similarities in the teachings regarding
money, honesty, integrity of heart, service to others, compassion
for the poor, defense of the weak and upright conduct before
God. Everyone agrees that these are the cornerstone of any
viable economy. Of course anyone who believes that militant Islam
(primarily Wahhabism and its derivatives) is only seeking to
improve the economic fortune of its adherents is hopelessly naïve.
It is clear that all Muslims are not militant. Many see the surpassing
benefit of mutual understanding and cooperation with the west
with regard to trade, cultural exchange and peaceful coexistence.
Unfortunately, a rapidly growing percentage consider assimilation
of any "decadent" western ideals which are contrary
to the Koran as cancerous and destructive. They believe that
Allah is not pleased with them for this tolerance, and even worse,
the embracing of any principles associated with the "infidels"
(defined as unbelievers who reject the teaching of Mohammed and
the nature of the deity of Allah). They must remove anything
that is not pleasing to Allah from their collective societies
(the "ummah") and individual lives so that they might
then and only then enjoy the blessings and rightful destiny in
this life and, more importantly, the next. If they don't, they
are "locked out" of the blessings that Allah wishes
to give them. Not only that, they fear the curse and condemnation
accorded to infidels that Allah will mete out to those who do
not follow his instructions as clearly indicated in the Koran.
That is one powerful motivation to clean house. And they are
sweeping every nook and cranny. Religious conviction is always
the trump card; it exceeds any other possible secular reason
for economic integrity. This is true for any man who is zealous
for whatever he believes to be the commands of his God. Eternal
rewards for keeping his God's word are incomparable. Likewise
are the horrors which await anyone who rejects his God's wisdom.
This principle applies equally to devotees of the Koran or the
History is a cruel and repetitive
master. In every nation that finds itself either coming apart
at the seams during the death throes of collapse, or facing overwhelming
frustration at not obtaining its "rightful" place in
the world (i.e., external recognition, status and
prestige for their achievements), the politicians and theologians
battle it out for the so-called hearts and minds of the people.
The politicians preach economic innovation, increased military
strength and demand for more authority to keep the whole mess
going. The bogeymen are limitations in authority and a disintegrating
rule of law which supposedly prevents addressing internal and
external threats which are responsible for the crisis du jour.
The theologians perceive the
same threats, real and imagined, yet place the blame squarely
upon rejection of divine edicts which serve as the only legitimate
foundation of a successful civilization. Both "factions"
are right about the need for authority. Except the politicians
have their cart before their horse. They don't need more human
authority. They need a practical knowledge of and respect for
the divine variety. It is clear from all sacred writings that
"right makes might." This is the wisdom of
God. The idea that "might makes right" as practiced
by the western flavors of the military-industrial complex is
foreign to the Bible. That is the wisdom of men.
Every single time the ancient
nations of the Bible effectively substituted one for the other
through selfish pursuit of this world's goods as practiced by
a pampered people they suffered. Divine judgment from Jehovah's
storehouse unflinchingly requited them with a number of penalties
including tremendous economic hardship through disease and famine,
or they were killed in great numbers, or, suffered ignominious
military defeat by lesser rivals and were deported as slaves
of their enemies. Every time. It's hard to beat God's track record
for warnings of inevitable dire consequences when his people
reject his principles. Only hubris of the highest order would
permit any mortal creature from supposing otherwise.
Make no mistake: the most
cherished principles of the American people are squarely in the
crosshairs of our enemies. Their
main target was not the New York skyline. The New York skyline
is only a symbol of American economic dominance exported and
imposed upon other sovereign states via the US dollar. They,
along with other European, Asian and many non-Muslim peoples
have decided that this dollar dynasty must end. Any perceptive
individual realizes the tangible and far-reaching monopolistic
benefits afforded the single nation which prints the so-called
"reserve" currency of the entire world. What an incomparable
privilege! Alan Greenspan and every central banker worth his
ink press have publicly stated such. It sure angered Charles
DeGaulle; he was making so much noise squawking outside the gold
window Nixon slammed it on his fingers in 1971.
The USD is truly "Monopoly
Money" in more ways than one. America's enemies are meticulously
preparing a competing system that has none of the deficiencies
of fiat paper and all of the intrinsic, self-sustaining benefits
of the "eternal" monetary metals gold and silver. If
they succeed, there will be no competition with the dollar in
its present incarnation. The dollar will be on the canvas, down
for the count, along with the US economy. Inevitably in short
order much of the rest of the globe will follow. The survivors,
although shell-shocked, will be only those with sound currency.
Likewise for the Euro, Yen, Pound, Renminbi, Franc and any other
fundamentally worthless paper you can name. Why do you think
that the Islamic world is not trying to introduce a paper currency
to be demanded and used exclusively by faithful Muslims among
themselves for private local debt settlement as well as ultimately
international exchange? Hmm... "This Paper Dinar Is Legal
Tender For All Debts, Secular and Religious." That
sounds silly; they recognize that. I will discuss this issue
in detail later when we review the Koranic principle of Zakah.
It's largely laughable that
other Western or Eastern governments are all trying to create
the next great paper. They are wasting their time. China thinks
they can save and even elevate the international status of the
Renminbi merely by unhitching it from the dollar. No doubt China
is actively and discreetly preparing for that day after they
have dumped large USD cash reserve holdings (or the cash proxy
of US Treasury debt) for other currencies (including gold). But
unless they hitch it intelligently and convertibly to something
of real value to defend against Forex speculators, well, we know
how that will work out. Just ask George Soros.
The Gold Dinar Isn't New; It's Back
From The Dead
The word "dinar"
and its variations come from initially Koine Greek (denarion)
and later Latin (denarius) roots relating to counting by tens.
The concept led to barter-enabling coinage of a more or less
certain weight (not a face-value denomination) which had a certain
value in the economies where it circulated. The Roman denarius
was a small silver coin and the most common in the ancient Roman
world. Because of its relatively stable weight of intrinsically
valuable silver it was widely accepted wherever it migrated.
The Pax Romana was actually a "Pax Argentum."
Many have cited its value as typically representing a full day's
wage for a manual or unskilled laborer. It is likely the so-called
"penny" of Matthew 20 issued with the likeness of Tiberius
between 14 and 37 AD and weighing about 4 grams of silver. Throughout
history Arab-world dinars have been made of copper/bronze, silver,
and gold but today largely of non-precious metals and "paper."
Dinar denominated fiat coins and paper circulate today in Algeria,
Bahrain, Iraq, Jordan, Kuwait, Libya, and Serbia and a few other
The modern appeal for return
of the real gold dinar can be traced backed to pre-Koranic roots.
The early Arabian empires minted a gold dinar issued under the
Umayyad caliphs (roughly 630-750 AD). Power was consolidated
in old Damascus and much of what is now the modern Arab world.
The caliphs also wielded significant influence and domination
throughout North Africa and parts of Gaul (Spain). The original
gold dinar was very close in diameter to today's modern Lincoln
cent and contained about 4 grams of gold of varying purity. The
new gold dinar coin, minted in 4 nations (including Malaysia)
contains 4.25 grams of 22 karat (0.9167 fine) gold and is just
under one inch in diameter at 23 mm. It therefore contains 3.896
grams of pure gold. At $450/ounce fine gold it has just over
$56.37 worth of gold.
As you can imagine, ancient
coins were not always exactly equal in size or net gold content
because of the variability of ancient refining, assaying and
minting techniques. However, ancient coins could be very accurately
compared on simple lever-type balances to a standard weight.
The underweight ones could be remelted and the overweight ones
could be carefully clipped or filed until they were acceptable.
This method, while crude, was very effective and legitimate if
the purity of the gold used to start with was relatively constant
(a specious assumption). Traders who valued their market privileges
and their smooth necks in many locales used only weights bearing
the seal of the king who vouchsafed the reference. The penalties
for false, counterfeit or unapproved weights in the marketplace
were merciless. And permanent. And the same as in the early days
of the fledgling American republic as stipulated in the US Mint
Act of 1792. I wonder what they will be under the new Dinar?
For a relatively pure material
with a known or "reference" density, a given weight
must occupy a certain volume. It must have a recognized size,
shape or "heft" familiar to the trader. If it is legitimate,
it can't be larger (or smaller) than a certain size and still
be correct. Long familiarity with the "feel" of good
coin by the populace would immediately arouse suspicion if something
wasn't quite "kosher." This is the method whereby
debased coins, no matter how nefariously blended into the economy
by ancient kings seeking to "expand the money supply"
were quickly recognized. Gresham's law is ancient. The previous
mintings of coins (pre-debased) were then kept safely in the
moneychanger's bag. The newer "improved" versions were
deftly passed on to the unsuspecting or wayfaring trader. Same
old king's face on the slug. Same old inscriptions. New (lesser)
amount of good metal beneath the surface. Same old game.
The Father(s) Of The Resurrected Gold
The ardent spokesmen and proponents
primarily associated with the resurrected gold dinar are the
former Malaysian Prime Minister Dr. Mahathir Bin Mohamad and
his senior economic adviser Nor Mohamed Yakcop. The motivation
behind the revitalized Islamic gold Dinar is not new; it has
been under serious discussion since early 1991. Bin Mohammad,
trained originally as a medical doctor, retired in 2003 after
leading his country for 22 years. Although now age 78, he is
still working passionately behind the scenes. Dr. Mohammad's
legacy is clearly the reduction of political and economic strife
among the many ethnic divisions in Malaysia; primarily between
native Malays and immigrant Chinese.
More importantly, the intellectual
and "ethical" force behind the far-reaching doctrine
is voiced by Umar Ibrahim Vadillo. Vadillo has written the best
single book available titled The Return Of The Gold Dinar. The
actual text is difficult to find but I have read extensive review
commentary. (Note: I would be interested in obtaining a copy
if any reader knows where it can be easily located). Vadillo
is clearly the most articulate and influential master of the
subject. His cause is crusade-like in its zeal; he clearly has
an absolute conviction that all paper money is essentially a
form of "fraud" that Allah despises. As a consequence,
any true Muslims who would be faithful followers are enjoined
with the responsibility to reject it. The absolute worst thing
that a faithful Muslim can do, in his opinion, is to accept,
use, trade and transact in the most vile of paper money; that
issued by the United States.
Vadillo's Views On Paper Money
Vadillo's work on the subject
appears in many websites; the one we found most useful was www.shaykhabdalqadir.com
and this section is extracted from his work "Paper Money:
A Legal Judgment." In summary:
1. Paper currency is NOT VALID
MONEY in Islamic law.
2. The Gold Dinar and Silver Dirham are the ONLY valid means
of exchange that meet the requirements of the Koran as expressed
in Sharia (Islamic secular law).
3. The Arab world paper dinar is certainly, in their opinion,
"better" than any western fiat currency, but still
not "good" in the eyes of Allah.
4. Trusting others outside the "House of Islam" (dar
al-Islam) who are not believers (the "kuffar,"
or "infidels") with money, etc. is forbidden. They
can't be trusted to pay it back. A true Muslim would never trust
a "kuffar" to watch over his money, either paper or
metal. Arab world writers often cite the anecdotal evidence of
seizure of Arab/Muslim wealth by American authorities during
the current "war on terrorism" as proof of Allah's
warnings regarding what happens if "infidels" can find
5. Paper money has no intrinsic value, therefore when given in
exchange for any other valuable good (food, clothing, oil, material
objects) it represents to a great extent "contractual fraud."
It isn't a fair trade. Giving specie (gold or silver coin of
known integrity/purity in agreed upon amounts) is a legitimate
trade of "value for value."
An interesting and necessary
conclusion is that it would be fraud to trade paper dollars of
no intrinsic value for anything of true value, especially gold
and silver. This dilemma, which is conveniently sidestepped by
the Islamic banking experts, has not stopped them from trading
dollars for gold as fast as they can drive their limousines to
the back gate of the London Metals Exchange. It is justified
before Allah... you are simply getting rid of the unrighteous
for the righteous. It is accomplished by proxy with an inconvenient
middle step. The original source of the dollar bills was the
lawful, fair, free-market sale of oil, which is legitimate wealth
given to the Arab/Muslim peoples by Allah. The dollars were obtained
for this oil, and then traded for gold. So the net effect is
already a trade of oil for gold.
THIS IS WHERE THE RUBBER
MEETS THE ROAD. YOU MUST UNDERSTAND THIS IS THE VERY MECHANISM
THAT PERMITS THE FAITHFUL MUSLIM TO HAVE A CLEAN CONSCIENCE BEFORE
HIS GOD WHILE SECURING RIGHTEOUS WEALTH AND THE EFFECTIVE RESULT
OF THIS CORE TENET IS DESTABILIZING TO THE WORLD ECONOMY. They will continue until they succeed,
even if they don't get the whole thing right the first time.
Or die trying. Any financial talking-head, speculator, currency
trader, investor, and naysayer who ridiculed the "silly
gold dinar" as an amateurish experiment with a handful of
coins that will be DOA just does not "get" it.
The Islamic Concept Of Charity (Zakah)
Zakah, or the "works of
charity" are one of the five well-known "pillars of
Islam." Every Muslim who would be faithful to his Master
embraces the five pillars as the bedrock of his faith. Number
5 below is the key to our whole discussion. The pillars are:
1. Confession that there is
no God but Allah and that he is "one" in his nature.
This is in direct antithesis to Judeo-Christian concepts of the
three-fold trinity of the Godhead. This is the basis for the
most militant behavior espoused by the Wahabbi. To them, the
ultimate blasphemy starts with believing in a concept that God
is "divided" somehow. In their judgment, such apostasy
is worthy of the coldest steel of Islamic justice. It is their
contention that there is no common ground among the major religions
of the world because they disagree with them over this absolutely
unequivocal issue about the basic nature of Deity. Never underestimate
the significance of this "show-stopper."
2. Make a determined effort to travel to Mecca at least once
in their lifetime. This is the "pilgrimage" or "hajj"
enjoined upon those whose health and finances permit.
3. Observe Ramadan faithfully in prayer, fasting and devotion
4. Establish and keep a routine of daily prayer; typically three
times a day.
5. Give generously things of good value to the poor Muslims.
This is zakah. This is not voluntary, it is a responsibility
placed by Allah upon all Muslims who have more than the minimum
amount of subsistence. It's typically assessed at 2.5% of net
gain. The minimum amount, below which the poorest of Muslims
is truly the receiver and not required to give alms, is known
as "Nisab." The eight classifications of recipients
are: the poor, the needy, those who have the authority to collect
the contribution, reconciliation of the heart, to free "kidnapped"
captives (ransom), relief of poor debtors, the down and out wayfarer/sojourner,
and for the "sake/cause" of Allah. You can't provide
true, honest, righteous relief to the poor by handing them worthless
paper; even though many Muslims have been doing this for years
with US dollars that circulated openly alongside national banknotes
or thrived underground undeterred by black market penalties.
You must give something legitimately good to the poor or you
have cheated both Allah and the poor.
As espoused by many Muslim
voices of varying degrees of fundamental zeal and political influence,
the current plight of the Muslims is succinctly stated in that
Allah is not pleased with them for a host of reasons. Support
of US hegemony via acceptance of the omnipresent USD (especially
for oil) keeps the war machine of oppression oiled and running.
Running over innocent Muslims in every corner of the globe. The
true reasons for the resurrection of the Gold Dinar are summarized
- Allah commands all the faithful
to respect the Koranic teachings regarding money and wealth,
including lawfully obtaining it and doing good unto the poor.
Violating the doctrine is sin and will result in divine judgment
- The interpretation and practical
application of the Koranic laws for the Muslim communities worldwide
(collectively known as the "ummah") are provided by
teachings, doctrines and decrees of the "Ulama."
The Ulama are considered absolute experts as more or less successors
to the prophet Mohammad. Their word is law when
propagated as a "fatwah"; they speak an eastern flavor
of "ex cathedra." The "Imams" are
faithful and authoritative instructors to the masses through
organized teaching in the Madrassas (religious schools) and in
mosque prayer and worship assemblies.
- Their spiritual leaders recognize
the foolishness of condemning the dollar and all other forms
of worthless paper currency without providing for a legitimate
alternative "something" that would be acceptable to
Allah and his people. The gold Dinar is that something.
Their approach is multi-pronged:
1. Teach the ancient principles
of righteous zakah etc, to both the young and the old alike in
the Madrassas and the mosques.
2. Bring together their greatest scholars and spiritual leaders
to justify the economic doctrine in the light of Koranic edicts.
Hold international seminars to debate and discuss the mechanics
of implementation in many of the Arab economic centers. Pass
legislation to facilitate the transition.
3. Vilify and isolate any of the non-militant Muslim nations
or communities who do not agree that the gold dinar and silver
dirham are the only solution. Any oil producers who still take
dollars, or euros, or anything paper which is "non-gold-dinar"
must be ostracized.
4. Now that the dinar has been minted, it must be circulated
among the Islamic people and used for every aspect of trade;
from the stuffiest stalls of an open air market in exchange for
silk road spices, to the high polished marble bank vault floors
in Dubai for international current account settlement.
5. The petri dish controlled experiment among a few "early
adopters" with only a few thousand of the actual coins must
eventually give way to international balance of payments and
trade settlement in gold units with billion-dollar magnitudes,
primarily for oil. That's a lot of Dinars.
6. Teach the Muslims that the gold dinar has spiritual and intellectual
superiority to any fiat currency because it is "so good"
in concept and utility that it presents itself as the no-brainer,
first choice of a truly free people. They note, that by force,
and not by choice, do the "fools" of the West ever
multiply and propagate their paper. If its value has to be decreed
by governments and forced upon the people, it carries no independent
worth. Essentially, Allah wants his people to be free; they choose
freely what is clearly superior while the West remains a slave
to ignorance, inflation, and endless economic upheaval. In their
view their (our) punishment is just.
- Bring together powerful nations
as intimate trade partners for precious and limited natural resources
of gas, oil, and minerals. Increase cultural exchange and encourage
mutual intra-national capital investment. The emergence of
the unholy Trinity of Iran, China and Russia is the single most
important geo-political event in the past few years. They can
provide capital, labor, military hardware, economic expertise
and shift 2.5 billion de-facto converts to the new paradigm;
all ingredients which must be brought together if the Dinar is
to succeed. Iran has for some time sought to bypass London's
IPE which is the primary market for almost all Middle Eastern
oil. The concept of a trading bloc who will only take gold, for
example, for their oil and liquefied natural gas will likely
destabilize the world in an unforeseen but most assuredly negative
fashion. How will Americans satisfy their thirst for oil? All
we have are dollars. What if the gas man isn't taking dollars
today? Or tomorrow? Horrific wars have been fought over far more
- Allah has blessed the Muslim
people with great natural wealth (primarily oil). That wealth
should be used to improve the lot of all Muslims worldwide. Taking
worthless paper money (dollars) from the "Zionist crusading
Americans" which allows them to maintain their econo-military
is an absolute abomination and worthy of swift and merciless
judgment of Allah. From their perspective, the "Zionist"
label refers to all those who provide carte-blanche support of
Israel in their oppression of the Palestinians.
- The sectarian disputes between
the Sunni, Shiites and Sufi are weakening the cause of Islam.
The warring factions should set aside their doctrinal differences
and focus on the one true thing that they all have in common;
hatred for western hegemony.
- Allah is to some extent very
angry with most Muslims who continue to trade true wealth (oil)
for worthless promises from their greatest enemy. They believe
that they are not able to defeat the west (including both United
States and Israel) in either economic or military conflicts because
of their lack of obedience to Koranic teachings. Until the
Muslim people "repent" and reject the western influences
as personified in the dollar as all things corrupt, Allah will
not grant them victory against their enemies. This is of fundamental
- The faithful will not be discouraged
by setbacks, complexities and economic counter-attacks. For them
it is an absolute matter of eternal life or eternal death. The
establishment of an alternative economic system to challenge
all things western is divinely ordained by Allah. They may
not be immediately successful, but they most assuredly will not
- The most important message
is that they understand that force and the so-called "color
of authority" is required for any unbacked paper currency
to "succeed," even marginally. The issuing
government must, by sovereign decree or imprimatur, declare paper
to be valid in all economic applications under threat of force
and punishment against all tactics to circumvent, obstruct or
reject it. In their opinion, the US dollar is, in reality, backed
after all, by something tangible: lead (bullets in the guns of
U.S. soldiers) and, plutonium (the ultimate manifestation of
decree by force). All of these so called intimidations and threats
are nothing before the power of Allah. The wisdom of Allah is
the trump card which is greater than any invention of man. Allah,
in his wisdom put oil, gold and silver in the earth and commanded
his people to use them all righteously and faithfully. They will
succeed in finally achieving their destiny in the world if they
follow their God faithfully.
This makes our opponent VERY
dangerous, all rhetoric aside. Martyr-like zeal in the heart
of a few warriors can achieve "great" things. This
establishes the mindset; they will continually refine their methods
and techniques until they succeed. If they fail in battle, for
example, they will take a closer look at the reasons; it must
be due to something in the Koran that they failed to do correctly
or completely. If they keep refining their strategies, sooner
or later they will have removed every flaw and failing in their
service to Allah. Then, and only then, will he reward them with
success, however it is defined from their perspective. It most
assuredly would include complete destruction of the Western economy
and our way of life. The method to their madness is not necessarily
military in nature. Certainly those that wish to die a martyr's
death in the service of Allah can go to their reward tonight.
Or they can live to fight another day with a much more sophisticated
weapon: sound money. Economic "jihad" is much more
insidious and more difficult to eradicate. It has the potential
to cause the loss of far more innocent lives than all the car
bombs, plane crashes and beheadings ever perpetrated in the name
of justice. For the sake of western and ultimately global stability,
I pray that our leaders wake up to this reality.
J. Kent Willis
December 2, 2004
Willis is a Financial Advisor, Licensed General Securities Representative
and the President of AGAPI Financial, LLC. He specializes in
tangible assets, biblical faith-based investing seminars and
balanced life strategies. He has traded gold and silver since
the mid 1970's and resides in Kentucky. He can be reached at
firstname.lastname@example.org. This work may be
reprinted and distributed freely to all hard money, "gold-bug"
and related websites provided credit is given to the author and
the website from which it was originally posted.