reply to post by musselwhite
Kindly direct me to the article itself, not the laundry list the link provides,
A new currency is certainly needed, but for the trade markets worldwide,
...a replacement for the now distressed and distrusted USD that is taking
excessive inflation to all the Gulf States because they are presently
'pegged' to the USD ..
here's an interesting link from 2004, before all the world-wide financial mess created by the USA financial system & the resulting crash of the
petro-dollar which is remarkably still
the world's Reserve Currency ~ for the immediate present, at least ~
"Return of the Gold Dinar" www.financialsense.com...
Now, the return of a Gold Dinar and a Silver Dirham,
might make sense & bring some stability to the economic world
in 2004 the idea was too far fetched or else reasonable only to fanatical Islamists wanting a renewed Caliphate.
But with the currency distress of the times (2008) a gold based Dinar
Consider a Gold Dinar or even a gold EUro to become a new reserve currency.
in the article the Dinar has 4.25 grams of 22 karat gold (.9167 fine)
its about 1" in diameter, at $900 gold, the coin would value @ $112.74
a prototype gold EUro might be of similar size/shape/value;
a value basically equivelent to a days wage for labor or semi-skilled work !
and here's a eerie consideration, somewhere near 3.8 grams of gold in each coin would give this prototype 'gold EUro' a value of 66.6 Euros
or equivelent to $105.22 = which is in the ballpark of 'A Days Wage'
(at least in the G-7 & G-8 nations of the world)