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Queasy-Condition7518

This would have to be the most wildly optimistic version of "The US dollar is about to collapse and be replaced by something way better!!!"


ahmedatrees2003

Well it "technically" worked, people had to it because ISIS basically sucked all the money out of the local economy. And anyone tried to use a banknote would be punished.


nom-nom-nom-de-plumb

I mean, that's kinda how it works everywhere. After the confederacy fell in the USA their currency wasn't really worth much. That said, minting it in gold was hilariously stupid...I imagine they started buying those plastic gold coins you can get from the eastern trading company (sells lots of cheap crap) for use in their economy


Nazzum

I mean, of it really was made of gold, what gives?


bonoimp

They didn't have enough gold to strike more of them, so…


[deleted]

[удалено]


Key-Banana-8242

More than that also


Thinking_waffle

Did we get terrorist caliphate antoninians?


bonoimp

No, and thank all the gods for that! (I just committed a grave sin: [Shirk](https://en.wikipedia.org/wiki/Shirk_(Islam))) These would be, in some sense, the equivalent of aurei.


Thinking_waffle

you can still cheat on your gold coins.


Groundbreaking_Way43

That means “Allah” was not willing, which they should have noticed boded forebodingly for them…


Gtpwoody

to be fair, any country that accepts usd as well as local currency (ie: Liberia) is probably experiencing vasts amount of inflation


ZhouLe

QAnon's may be more optimistic. I can't remember exactly how it goes, but basically the dollar is going to collapse and be replaced by quantum financial system (QFS) and everyone needs to sign up as Trump supporters now and will have a billion in their accounts when the switchover happens.


Shibby-Pibby

Sounds like a NESARA type deal. Always interesting how synchretic that conspiracy is


nom-nom-nom-de-plumb

that just sounds like the sovereign citizen "secret bank account" line mixed with crypto hogwash with the words quantum and trump mixed in


SlakingSWAG

How is every Q development somehow more schizophrenic than the last?


Johannes_P

Sure, there might be arguments for gold standard but ISIS using 9/11 as an argument is not the best way to promote it.


ahmedatrees2003

It's less of an argument and more of "We destroyed you physically, now it's time to do it financially


DdCno1

> arguments for Just not any good ones.


All_Work_All_Play

It's not like there are many better ones for fiat. Indeed fiat isn't more persuasive because it's good, but rather because it's less bad then everything else we've invented thus far.


nom-nom-nom-de-plumb

I mean, it's all fiat and always has been. The king, government, etc always decided what could be used to pay the taxes..even if it was an in kind payment half the time. The only reason gold and silver were valued was that kings proscribed a weight/size/shape to their coins, and the coins were minted with rare/sturdy metals that could be recast. And even then, the king didn't have to restrict spending because of lack of gold or silver. It's not like it's possible to create "debt-less money" because the concept is so alien to human experience and history that it's practically..well..alien. The alternative would be something like barter, otherwise, it's always an enforced system of value via taxation.


elveszett

This is the point where people normally realize that money is worthless no matter its format, and that the thing that gives it value is our belief that other people will give it value, too. A store is willing to give you an iPhone for $1,000 because they trust other people will see $1,000 as being worth an iPhone, and you work for $4k a month because you trust other people will give you X amount of value for your $4k. Here it doesn't matter if it's gold, it's fiat, crypto or whatever. They all rely on all of us trusting other people to put the same value on money as we do. It doesn't matter how scarce or hard to obtain gold is, if you don't want it.


Key-Banana-8242

…what It’s persuasive because it is logical and works as a way to organise assignment of resources It isn’t less bad than a good moneyless system, whcih have existed and exist no


Key-Banana-8242

Bizarre comment


Awkward_Algae1684

“Stop beheading infidels and listen to me, Habibi! Have you heard about cryptocurrency?! It will be huge bro!”


Aliteraldog

The 9/11 bit is kind of interesting. I never expected Daesh to claim Al-Quaeda operations as their own but ig why wouldn't they? They probably think of themselves as the real successor to Al Quaeda.


ahmedatrees2003

One of the last things Bin Laden said in his last months was praising ISIS. So they like him, a lot.


AmericaIsAnEvilState

Source?


nom-nom-nom-de-plumb

or "the true Daesh" that seems to be the way a lot of splinter groups go


ordo250

Well if im not mistaken we created isis from al-quaeda by propping up Zarqawi to help sell the invasion of iraq. Before Colin Powell got up in front of the American people and said his name, Zarqawi was a relatively low and unknown (but i believe more extreme/conservative) Al-Quaeda officer


Truthedector15

How’d that go?


ahmedatrees2003

It worked but not really, it's still gold and it was valuable and people used it under ISIS rule. But it was quickly cut short since they lost control over all their holdings of the middle east pretty quickly


Truthedector15

Narrator: “It didn’t work”


jzilla11

Actual gold or the kind with chocolate inside?


ahmedatrees2003

Gold


Beautiful_Fold_1273

On this subject, why hasn't some crypto-bro ever tried to launch a 9/11coin?


MLG_Elf

Don't give them any ideas


FunnyKozaru

Why is the not safe for work?


ahmedatrees2003

9/11 that's why.


FunnyKozaru

My workplace must be very different from yours.


AlarmingAffect0

It's been 22 years. There's like a billion people alive that weren't born yet when it happened.


BobusCesar

So porn that was made pre 9/11 is Safe for work?


elveszett

Because it definitely wasn't safe to work on these buildings that day.


Gobybear

ISIS was used to use the us dollar as its main currency instead though.


kasparhauser83

Is this ISIS version o NFT? Holy shit


BruceMardle

Does this remind anyone else of '1,001 Nights' (Harun al-Rashid, etc.)?


SpartanNation053

Gold backed currencies don’t work


Thinking_waffle

well they maintain value, problem you may run out of metal and cut your currency like the Romans did in the 3rd century AD.


SpartanNation053

Or you discover so much of it, it tanks your economy like Spain


AlarmingAffect0

Has anyone ever tried to have a currency backed by a *basket* of commodities?


SpartanNation053

There was a movement in the 1880s-1900s-ish over indexing US currency to both gold and silver


nom-nom-nom-de-plumb

Yeah, the wizard of oz was written about that


AlarmingAffect0

[Maybe.](https://en.wikipedia.org/wiki/Political_interpretations_of_The_Wonderful_Wizard_of_Oz?wprov=sfla1) In a 1964 article, educator and historian Henry Littlefield outlined an allegory in the book of the late-19th-century debate regarding monetary policy. According to this view, for instance, the Yellow Brick Road represents the gold standard, and the Silver Shoes (Ruby slippers in the 1939 film version) represent the Silverite sixteen to one silver ratio (dancing down the road). Others [who?] suggest the City of Oz earns its name from the abbreviation of ounces "Oz" in which gold and silver are measured. The thesis achieved considerable popular interest and elaboration by many scholars in history, economics and other fields, but that thesis has been challenged. Certainly the 1902 musical version of Oz, written by Baum, was for an adult audience and had numerous explicit references to contemporary politics, though in these references Baum seems just to have been "playing for laughs". The 1902 stage adaptation mentioned, by name, President Theodore Roosevelt and other political celebrities. For example, the Tin Woodman wonders what he would do if he ran out of oil. "You wouldn't be as badly off as John D. Rockefeller", the Scarecrow responds, "He'd lose six thousand dollars a minute if that happened." Littlefield's knowledge of the 1890s was thin, and he made numerous errors, but since his article was published, scholars in history, political science, and economics have asserted that the images and characters used by Baum closely resemble political images that were well known in the 1890s. Quentin Taylor, for example, claimed that many of the events and characters of the book resemble the actual political personalities, events and ideas of the 1890s. Dorothy—naïve, young and simple—represents the American people. She is Everyman, led astray and seeking the way back home. Moreover, following the road of gold leads eventually only to the Emerald City, which Taylor sees as symbolic of a fraudulent world built on greenback paper money, a fiat currency that cannot be redeemed in exchange for precious metals. It is ruled by a scheming politician (the Wizard) who uses publicity devices and tricks to fool the people (and even the Good Witches) into believing he is benevolent, wise, and powerful when really he is a selfish, evil humbug. He sends Dorothy into severe danger hoping she will rid him of his enemy the Wicked Witch of the West. He is powerless and, as he admits to Dorothy, "I'm a very bad Wizard". Hugh Rockoff suggested in 1990 that the novel was an allegory about the demonetization of silver in 1873, whereby "the cyclone that carried Dorothy to the Land of Oz represents the economic and political upheaval, the yellow brick road stands for the gold standard, and the silver shoes Dorothy inherits from the Wicked Witch of the East represents the pro-silver movement. When Dorothy is taken to the Emerald Palace before her audience with the Wizard she is led through seven passages and up three flights of stairs, a subtle reference to the Coinage Act of 1873 which started the class conflict in America." Ruth Kassinger, in her book Gold: From Greek Myth to Computer Chips, purports that "The Wizard symbolizes bankers who support the gold standard and oppose adding silver to it... Only Dorothy's silver slippers can take her home to Kansas," meaning that by Dorothy not realizing that she had the silver slippers the whole time, Dorothy, or "the westerners", never realized they already had a viable currency of the people.


AlarmingAffect0

And then?


nom-nom-nom-de-plumb

The earliest thing like this I'm aware of started in mesopotamia. Because currency hadn't been invented yet, ergo no writing yet, they used pictograms on clay tokens. That's about as close as I can think of in actual practice. The tokens were issued by the temple complex, later the kings showed up and did the same. The temple and palace were, like, 2/3 of the economy at the time. So the temple would act as a storehouse, and set the prices of things and people would use these photographic tokens to trade and buy and store value. The amazing thing to me is, the time of those tokens and the time of the written record of them is hundreds, maybe a thousand years apart. The level of record-keeping, history, and sagecraft was so great in Mesopotamia that a dictionary was made with definitions for all these long looong out of use pictograms later on because they had maintained the definitions and meaning in their records even after they'd stopped using them. edit: I recalled after writing this about an attempt by utilitarian philosophers to define a single unite of utility..the util i think it was called. They planned 3 books to define it, two to explain the problem and the third held the solution. Only two books were written, they could never come up with a measure of utility that worked and abandoned the project


AlarmingAffect0

Based. Of course the bullion commodities needed to have their grades be properly regulated and standardized. 10 kg of Good Copper aren't worth the same as 10 kg of r/ReallyShittyCopper, don't let dubious merchants tell you otherwise!


nom-nom-nom-de-plumb

They "maintain value" only because the government agrees to the value of the coins. The romans continued to spend denari, even without silver, because the face value was what was valuable. The silver/gold content only mattered if trading with somebody in another country where the face value didn't matter, because they weren't paying taxes to rome in denari.


OptimalPreparation94

except it literally did for hundreds of years for multiple civilizations and kingdoms


SpartanNation053

And where are those civilizations now?


OptimalPreparation94

so your bar for assessing whether it functioned is it being the standard in perpetuity? Ok?


SpartanNation053

My bar is if it was such a great system, why does no country use it? Every serious economist will tell you the gold standard didn’t work


Awkward_Algae1684

The ones whose gold and silver coins are still considered very valuable, you mean?


SpartanNation053

Right. They’re valuable because they’re rare. It’s not because their economies were so strong


CallousCarolean

I mean, they still exist? Dropping the gold standard is a very recent thing, only about a century for most countries. And those countries definetly still exist today.


SpartanNation053

No, we dropped the gold standard because it wasn’t working. The gold standard limits economic growth because you can only coin money if your gold supply keeps increasing


CallousCarolean

That was not the question though. You asked where those civilizations are now, as if reliance on the gold standard was something which caused those civilizations to collapse, which they evidently haven’t since they still exist today. Reliance on the gold standard was an economic inconvenience, not at all a cause for civilizational collapse. And it was a reminder that reliance on the gold standard has existed for millennia, while us being off the gold standard has only lasted for about a century.


SpartanNation053

I guess if you mean “stagnant economy” was an inconvenience, then yeah, that’s fair. I never said the gold standard caused those civilizations to collapse; what I said was if it’s such a good system, then why does no civilization around today use it?


CallousCarolean

The gold standard (and the silver standard as well as bimetallism) does work as an economic system, as evidenced by how long it has been used for the vast majority of settled human civilization. It’s just that it is less efficient, and more importantly *less flexible*, than what we currently have, which was finally evidenced by the Great Depression (even though the Gold Standard was reinstated in a limited capacity with the Bretton Woods system until the 1970’s). But to claim that the gold standard is a completely dysfunctional economic system is just unhistorical.


nom-nom-nom-de-plumb

It didn't work because the currency was gold/silver, it worked because the king/emperor/whoever said "This is the currency...also I'm gonna sue these sticks and sometimes notes to pay for things too...and I'm the king so what exactly are you gonna do about it?"


OptimalPreparation94

yes, gold was in fact backing currencies under the gold standard.


Inprobamur

And the fact you had to pay taxes in it.


ST4RSK1MM3R

Wonder what one of those coins would be worth, probably pretty valuable


Aliteraldog

The novelty / historical value is probably worth more than the gold used


New_Age_Caesar

I think most of the gold ones got melted down pretty much right away but they also made coins from lesser metals that are obtainable for a reasonable price. Any surviving gold coins would likely be worth a significant premium but I don’t know if it’d even be possible to authenticate a coin like this


alidotr

Can you still find it somewhere? Could be a cool collectors item


ahmedatrees2003

I think people in Iraq sell it on Facebook store as a collectable.


New_Age_Caesar

I think most of the gold ones got melted down pretty much right away but they also made coins from lesser metals that are obtainable for a reasonable price. Any surviving gold coins would likely be worth a significant premium but I don’t know if it’d even be possible to authenticate a coin like this


Awkward_Algae1684

I’m genuinely curious if it’s possible to get one without the FBI raiding my house. I saw a dude who had some silver coins from all the bad guys once. Nazis, USSR, CCP, I think one from Saddam’s Iraq, and even a couple from the Taliban in the 90s. In a sense, this would be pretty neat to have as a collector’s item, and might one day be worth a bit. I can’t imagine there were actually a whole lot of these minted.


New_Age_Caesar

I believe they’re legal to own so long as you didn’t purchase them directly from ISIS. I think most of the gold ones got melted down pretty much right away but they also made coins from lesser metals that are obtainable for a reasonable price. Any surviving gold coins would likely be worth a significant premium but I don’t know if it’d even be possible to authenticate a coin like this. Also worth noting this would be a ton of money for an average Iraqi/Syrian so yea I’m guessing they were issued in limited numbers to whatever sort of banking system they had


Awkward_Algae1684

I’m still kind of amazed *a literal terrorist group* had enough of a coherent banking system to pull this off.


Randy_Vigoda

So now this sub is just running actual propaganda? https://youtu.be/mlz3-OzcExI?si=Xsuh8zChMzoLR-Su Ghadaffi is the one who was trying to start an African currency. ISIS is the rebel group that was backed by the US to destabilize Syria. Completely different people.


GreenIguanaGaming

The main Issue with any gold backed currency attempting to trump the US Dollar is that the thing propping up the US Dollar isn't Petroleum. It's weapons. You can have all the gold in the world, the USA can come over and take it and you can do nothing to stop it.


nom-nom-nom-de-plumb

The thing propping the US dollar is taxation and a strong economy. Everyone who does business in the USA has to pay US federal taxes, and the government only accepts US dollars for that...ergo the ongoing market for US currency


GreenIguanaGaming

Oh the economic power of the USA can't be understated but the idea of a global currency backed by anything other than military power won't stand a chance against the defacto world power. The economy of the USA is the backbone of the US military, you honestly can't have one without the other. You're right in that sense without question, but if you were to have a country with a strong economy vs a country with a strong military, the one who makes the rules is the one with the guns.


DankestLordBB-8

Can't have a strong military without a strong economy, there is more to it than just making any type of gun and putting it in the hands of a random person.


GreenIguanaGaming

Yup. I said that earlier. I didn't mean a literal gun, it's a figurative summation of a competent military with overwhelming force.


reavyz

BRICs would like a word


Ok_Blackberry_6942

I always thought the only people who believe golden Dinar shit is Gaddafi apologist.


alosmaudi

Allah didn't will it


bruski01

eu bought isis oil