An Ironic Reflection

The genie is out of the bottle, folks all over the world are learning more and more about the fraud of fiat currency versus the soundness of tangible real money, physical gold and silver.

A reflection of the western world's growing movement back to owning and trading real wealth is being mirrored on the other side of the world according to recent headlines about Malaysia:

Financial Times - August 13, 2010

Malaysia looks to ancient alternative currency - gold

In a move applauded by some local Muslims, the state government of Kelantan said it was introducing a new monetary system featuring standardized gold and silver coins based on the traditional dinar and dirham coins once used by the Ottoman Empire.

Nik Abdul Aziz, the state's chief minister, spoke in visionary terms of an economy in which state civil servants would be paid in the new sharia currency, and the poor would be protected against inflation by the intrinsic value of the precious metals used to produce it.

About 1,000 shops and restaurants in the state have said they will accept the new currency, which follows an earlier issue of gold dinars in 2006. The coins comply with traditional Islamic teaching on the use of coins with intrinsic value as a medium of exchange, rather than paper money.

Check out this powerful excerpt from "Time for Change" directed by Bregtje van der Haak, in which ordinary people have responded to the crisis of banking and bankers with real money solutions, the dinar and dirham:

"It is not just smart entrepreneurs trying to make an investment decision or help people think about where to store their surplus money, its also a moral and political view tied to Islam and to the Koran which says that money should not be virtual, it should be an exchange of value, it should be used to exchange goods rather than virtual realities."

- Bregtje van der Haak

How ironic, both the Koran and the US Constitution explicitly state that gold and silver are money. It seems the founders of the United States understood what many wise men before them had come to know all too well.

Gold and silver are money. They are ageless stores of value that have seen crisis come and go. They have and will continue to be mankind's safe-haven source of value. Physical silver and gold shall stand the test of time.