The gold dinar and the silver dirham.

White_Unifier

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Feb 21, 2017
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www.youtube.com/watch?v=nNtIsSWVJBI

https://en.wikipedia.org/wiki/Gold_dinar

Damn those Muslims are smart!

Why do we allow central banks to erode our savings by diluting our money when we could just create our own gold and silver currencies to trade?

Of course gold and even silver can be inconvenient when we want to buy a two-dollar chocolate bar, but that's where debit cards could come in handy. A bank debit card could allow the user to make purchases of 1/1000 of a gold dinar or 1/1000 of a silver dirham.

If we think that sounds too 'Islamic,' then why not the stelo:

https://en.wikipedia.org/wiki/Stelo

The bronze one-stelo coin equals the yello-copper five-stelo coin, the copper-nickel ten-stelo coin, and the silver 25-stelo coin. No gold-stelo coin was ever created to the best of my knowledge, but nothing would be stopping us from creating one. Plus, even if some people chose to turn to the stelos and others to the dinars and dirhams, the currecies would not fluctuate in value between one another since they'd be made of the same metals. essentially x gold stelos would always be worth y dinars, and x silver stelos would always be worth y silver dinars.

If we popularly chose to turn away from the fiat currency, though governments could still tax us honestly, they couldn't tax us dishonestly by just printing money.
 

Danbones

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Sep 23, 2015
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then they just send in Hitlarious to steal all the gold like they did in Libya
we came we saw...he died...cackle cackle cackle
 

White_Unifier

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Feb 21, 2017
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then they just send in Hitlarious to steal all the gold like they did in Libya
we came we saw...he died...cackle cackle cackle

I'm not against honest taxation, but do it upfront and honest, not by sneakily printing money.
 

White_Unifier

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petros

The Central Scrutinizer
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There is a difference: the gold dinar and silver dirham and the stelos were designed with intranational and international trade and investment in mind. The silver and gold mapleleafs are designed with only investment but not trade in mind as far as I know.

Correct me if I'm wrong.

Maples are used in trade regularly.
 

White_Unifier

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Maples are used in trade regularly.

Really? I'd like to see that.

well, I guess if you want to support ISIS.


ISIS introduces

Actually, ISIS is just a copycat. A Malaysian province has allowed the use of the gold dinar and silver dirham since 2000, though its use is (or at least was) illegal in the rest of Malaysia. It has since gained popularity in Indonesia and apparently Australian Muslims use it too to a certain degree.

It's use predates ISIS.

https://en.m.wikipedia.org/wiki/Modern_gold_dinar

Interestingly, independent mints can all produce interchangeable gold dinars and silver dirhams. Though the face and design might differ, they all agree in weight and purity. This makes them all interchangeable in spite of their differing designs.
 

petros

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It's called bullion.

Canadian mint sells 1kg bars and yes it's currency.

 

White_Unifier

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The silver 'dollar' goes for 59.95 CAD. The gold '25-cent' coin is 129.95 CAD.

Even the silver coin would be worth too much to buy a candy bar. With that, we'd probably need to consider creating bronze, yellow copper and copper-nickel coins too. A silver coin might be fine for buying groceries with, and a gold coin for more expensive less common items.

That raises a question. How did Canadians buy a simple candy bar all those years ago? I guess if a one-cent coin could buy a candy bar, that might be around the right value for it, though that could make it difficult to buy a single gum ball from a vending machine. I guess nothing can ever be perfect, but though a higher value would make it more difficult to buy very cheap products like a single gum ball in a vending machine for example, that inconvenience would be more than made up for in a person's ability to carry high-valued currency without bulging his wallet.

I could see something like this:

A bronze 1-dollar coin, a yellow-copper 5-dollar coin, and a copper-nickel 10-dollar coin. A silver dirham and gold dinar could serve as separate floating currencies for more expensive purchases.

Of course that presents its own problems since then the dirham, the dinar, and the dollars would fluctuate between one anther. But equilibrium would eventually be reached with only minor fluctuation once stability is gained. Also, we already have fluctuating currencies around the world. So if we need to deal with fluctuation between only three different currencies (or a maximum of five if we decide to allow fluctuation between bronze, yellow copper and copper-nickel too), that's still far fewer world currencies than what we presently have.
 

White_Unifier

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40,309.68 CAD. The bar is not something you take to the mall to shop with, but it could make for a nice downpayment on a house. Even for a less expensive new car, you'd be asking if they could break a bar.
 

petros

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The silver 'dollar' goes for 59.95 CAD. The gold '25-cent' coin is 129.95 CAD.

Even the silver coin would be worth too much to buy a candy bar. With that, we'd probably need to consider creating bronze, yellow copper and copper-nickel coins too. A silver coin might be fine for buying groceries with, and a gold coin for more expensive less common items.

That raises a question. How did Canadians buy a simple candy bar all those years ago? I guess if a one-cent coin could buy a candy bar, that might be around the right value for it, though that could make it difficult to buy a single gum ball from a vending machine. I guess nothing can ever be perfect, but though a higher value would make it more difficult to buy very cheap products like a single gum ball in a vending machine for example, that inconvenience would be more than made up for in a person's ability to carry high-valued currency without bulging his wallet.

I could see something like this:

A bronze 1-dollar coin, a yellow-copper 5-dollar coin, and a copper-nickel 10-dollar coin. A silver dirham and gold dinar could serve as separate floating currencies for more expensive purchases.

Of course that presents its own problems since then the dirham, the dinar, and the dollars would fluctuate between one anther. But equilibrium would eventually be reached with only minor fluctuation once stability is gained. Also, we already have fluctuating currencies around the world. So if we need to deal with fluctuation between only three different currencies (or a maximum of five if we decide to allow fluctuation between bronze, yellow copper and copper-nickel too), that's still far fewer world currencies than what we presently have.

Maybe a gingerbread man is more your speed?


$20 for $20 Fine Silver Coin



They used semi precious metal called copper and nickel to buy candies back in the day.

Do you remember the copper penny?

Eventually the copper in the penny became worth more than the penny so they were then aluminum and ended as steel.

40,309.68 CAD. The bar is not something you take to the mall to shop with, but it could make for a nice downpayment on a house. Even for a less expensive new car, you'd be asking if they could break a bar.
That's not how it works.
 

White_Unifier

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Feb 21, 2017
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Maybe a gingerbread man is more your speed?


$20 for $20 Fine Silver Coin



They used semi precious metal called copper and nickel to buy candies back in the day.

Do you remember the copper penny?

Eventually the copper in the penny became worth more than the penny so they were then aluminum and ended as steel.

Yup. Even 20.00 can be high, but within a common range for most common daily purchases. At least bronze, copper, copper nickel, silver and gold can hedge against inflation the way fiat can't.

It would end constant labour disputes and renegotiating labour contracts, strikes, lockouts etc. caused by inflation.

Once a contract is signed, all parties could then stick to it for many years and decades so as to avoid new labour-management conflicts.
 

petros

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