A far cry from the Federal Reserve. (Reuters)
What The Islamic State’s Currency Tells Us About The Bloody Origins Of Money -- Matt Phillips, Quartz
The propaganda war from ISIL, the Sunni jihadist group controlling swaths of northern Iraq and Syria, took a somewhat expected turn last week. The black-clad fighters best known for their months-long jag of mass killings and filmed beheadings suddenly wanted to talk about monetary policy.
On Thursday, the group’s heretofore unknown finance ministry announced vague plans to mint a series of gold, silver, and copper coins for its own currency, to be called Islamic dinars. Accord to a translation from Site Intelligence, a group that tracks jihadist activity, the shadowy leader of ISIL (a.k.a. the Islamic State or ISIS) had ordered such coins to be minted as “it is far removed from the tyrannical monetary system that was imposed on the Muslims and was a reason for their enslavement and impoverishment.”
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My Comment: Some intriguing info on the history of money and war in this short article.
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