Muslim nations consider gold, barter trade to beat sanctions

[PaulSimon]

They will get the gold from the world's oldest and the only vedic-superpower, where every household has more gold than all the mines of Africa combined.

Hasn't Ghori looted it?

 

[tarrar]

It is a very good idea, but this was one of the idea which Col. Gaddafi had thought about and it took him out.

 

[PaklovesTurkiye]

@Indos @dBSPL @Taimoor Khan @KediKesenFare @mangekyousharingan

Your Thoughts, guys?

 

[fitpOsitive]

Muslim nations consider gold, barter trade to beat sanctions
By Reuters
Published: December 21, 2019
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Iranian President Hassan Rouhani, Qatar's Emir Sheikh Tamim bin among other leaders pose for photograph during Malaysia Summit. PHOTO: REUTERS/FILE

KUALA LUMPUR: Iran, Malaysia, Turkey and Qatar are considering trading among themselves in gold and through a barter system as a hedge against any future economic sanctions on them, Malaysian Prime Minister Mahathir Mohamad said on Saturday.

At the end of an Islamic summit in Malaysia, Mahathir praised Iran and Qatar for withstanding economic embargoes and said it was important for the Muslim world to be self-reliant to face future threats.

“With the world witnessing nations making unilateral decisions to impose such punitive measures, Malaysia and other nations must always bear in mind that it can be imposed on any of us,” Mahathir said.
US-allied Arab states Saudi Arabia, the United Arab Emirates, Bahrain and Egypt cut diplomatic and trade links with Qatar about 2-1/2-years ago over allegations it backs terrorism, a charge Doha denies. Iran, meanwhile, has been hit badly after the United States reimposed sanctions on it last year.

Malaysia defends Muslim summit shunned by Saudi, slammed by OIC

“I have suggested that we re-visit the idea of trading using the gold dinar and barter trade among us,” Mahathir said, referring to the Islamic medieval gold coin.

“We are seriously looking into this and we hope that we will be able to find a mechanism to put it into effect.”

The leaders agreed they needed do more business among themselves and trade in each other’s currencies.

The summit, which was snubbed by Saudi Arabia, was criticized for undermining the Saudi-based Organisation of Islamic Cooperation (OIC), which represents 57 Muslim-majority nations. Malaysia said all the OIC members had been invited to the Kuala Lumpur summit but only about 20 showed up.

By the fourth and final day of the summit, no joint statement had been released. The summit had been expected to discuss major issues affecting Muslims, including Palestine and Kashmir dispute.

Without naming any country, Mahathir said there was concern that Muslims in non-Muslim countries were forced to undergo assimilation.

“We support integration but assimilation to the extent of shedding our religion is unacceptable,” he said.

He called India’s new citizenship act unfortunate. The act facilitates for faster naturalisation of non-Muslims from Afghanistan, Bangladesh and Pakistan who had settled in India prior to 2015.

Barter in Gold? Do you know who fixes gold rates? Yeah its Britain. Dr Mahatir probably might be knowing these facts.
Passing such statements in public is just time pass. I have seen actions, which were very very effective, were never announced.

 

[Foxtrot Delta]

yes finally do it just do it!

 

[BATMAN]

That is their problem right ? True means of trading in Islam is either Gold Silver or trade between products .

True means of transport in Islam is horses and camels... right?

 

[mangekyo]

@Indos @dBSPL @Taimoor Khan @KediKesenFare @mangekyousharingan

Your Thoughts, guys?

US can still sanction any country using this trade system. No one will use it.

 

[313ghazi]

True means of transport in Islam is horses and camels... right?

For some it's Donkeys.

 

[HAIDER]

Looks like Mahatir wants to go with a bang.

Reason Gaddafi knocked out. He setup the whole new economic uplift system for Africa.

The Gold Dinar: Saving the world economy from Gaddafi
https://www.globalresearch.ca/the-gold-dinar-saving-the-world-economy-from-gaddafi/24639

 

[jericho]

Seeing several people talking about Saddam and Gaddafi here, lol, those people had the image of being dictators, which I am sure had more to do with their downfall than them simply putting out an idea about gold trade

 

[blueazure]

a gold backed crypto currency more like it .

 

[Pakhtoon yum]

Ok, what happens when a countries gold reserves run out? Cause surely some have more then others. Does that mean war and plundering, just like in the old days?


This organization seems like a waste of time, with there childish statements. No wonder Pakistan didnt waste it's time.

 

[War Thunder]

From where will they get the gold?

lol, you must be joking right or have no clue on how country and monetary system works in general?

 

[PaulSimon]

lol, you must be joking right or have no clue on how country and monetary system works in general?

Unless these countries have gold mines to produce gold like China, you still need $$ to buy gold in the open market.

 

[War Thunder]

Unless these countries have gold mines to produce gold like China, you still need $$ to buy gold in the open market.

How did gold and silver use to function as currency back in the days and how will countries acquire that gold?
Was a country with gold mines richer than countries without it?

Why was Britain a world power? Because it had the greatest gold mine of all?