Monday, June 11, 2007

Pakistani/Islamic Currency Can Overtake the US Dollar!


For those us living in the United States this news might not be so good while for other living in the middle east It can be a hope that predicts a future in which the gold based Islamic Dinar will rule in the markets of world as opposed to baseless US Dollar.

Malaysia in 1997 announcing that It will start minting the Islamic Dinar in 2003, and start using it as the official currency of trade between Islamic countries. In 2003 Mahathir bin Mohammad lost the election and his successor Abdullah Ahmad Badawi and the idea was halted. But it's believed that it has been finally launched in Kelantan, a state of Malaysia in late 2006.

What Pakistan can do is start minting the Islamic Dinar and Dirham, It will immediately take out inflation and therefore Mehngai (Uncontrolled rising in the prices of everything due to inflation). Doing this will make the country stable as even gain more value against the Paper-Currencies like the US Dollar.

It is not just a Win-Win case, if Pakistan adopts the Islamic Bi-Metalist currency it will take a lot of power away from the government as they can now no longer just print more money if they need now they have to staring using real ways or making money, like putting duties on the imports and have more stuff to export, but for poor-public it will be like winning the lottery. If Pakistan wants more money they can't just print more gold, so they need to increase amount and value of the goods that they export, therefore creating more factories and jobs that The Islamic Republic of Pakistan needs so greatly. As great as it sounds i doubt that any government will actually support and pursue it because just simply printing money is a lot easier than actually working for money. How many of us would get jobs If we had money printing machines.

I don't know if and when will Pakistan launch and start minting its Islamic Dinars and Dirhams, whenever they chose to do so it will help out the poor. If you are interested in buying Dinars and Dirhams you can buy them from a some of the Emirates of the UAE, notably the Islamic Bank of UAE.

Abu Abdullah,
The Doctor of Truth

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