This past weekend the Islamic State’s so called media center, the al Hayat, released a video announcing that it is in the process of taking on the Fed itself with ‘the return of the gold dinar.'”
The above comments, and those below, have been edited by Lorimer Wilson, editor of munKNEE.com (Your Key to Making Money!) and the FREE Market Intelligence Report newsletter (see sample here – register here) for the sake of clarity ([ ]) and brevity (…) to provide a fast and easy read. The contents of this post have been excerpted from an article* by Tyler Durden as posted originally on lewrockwell.com under the title Austrian Economics Is Now Equivalent To Terrorism Thanks To Latest Islamic State “Gold Standard” Propaganda Clip and which can be read in its unabridged format HERE. (This paragraph must be included in any article re-posting to avoid copyright infringement.)
As Bloomberg reminds us, the Islamic State’s Shura Council last year tasked its Beit al Mal, or treasury, with minting the coins, which come in several denominations made of gold, silver and copper.
While Bloomberg notes that “since the Islamic State is classified as a terrorist group, the coins can’t be traded legally” the point of the propaganda video is not to promote ISIS coinage, which will never exist, but, rather, to pitch an anti-Fed, anti-fractional reserve, pro-gold standard ideology, and make it equivalent to the evil terrorist thoughts spread by the Islamic Jihadist group.
Just like that, Austrian Economics has been reduced to a terrorist ideology, and anyone harboring the same “evil” misconceptions as those spread by the “Islamic State’s” media propaganda outlet have become an enemy of the U.S. state.