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The Gold Dinar. The Gold Dinar. GENERAL Our Motivation: To Provide An Alternative & Compliment NOT to Discredit, Destroy and/or Express Hate. This is THE FINAL LEG to Remove Riba. Our Approach: Gradualism and Persistent Education of Governments, Bankers & the Public

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The Gold Dinar

GENERAL

Our Motivation:To Provide An Alternative & Compliment NOT to Discredit, Destroy and/or Express Hate. This is THE FINAL LEG to Remove Riba.

Our Approach:Gradualism and Persistent Education of Governments, Bankers & the Public

Planning Horizon: At Least 10 Years

gold dinar role of the commercial banks
Gold DinarRole of The Commercial Banks
  • Develop Easy to Apply Systems & Procedures. Try to Minimize Bureaucracy of Central Bank Involvement.
  • Use Islamic LaRiba Banking Windows.
  • Identify Those Customers That Believe in The LaRiba System and Who Are Willing To Sacrifice and Take Measured Risk, IF NECESSARY, In Order To Achieve Success & Credibility of the System.
  • Develop Strategic Alliances of Islamic Banks in The Countries Involved.
  • Explain the Benefits & Educate Customers
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The Gold Dinar

Role of The Banks & Bankers

  • Implement Small Scale Pilot Programs for Businesses.
  • Use Gold Dinar Equivalents in Quoting and Reporting Prices
  • Implement Small Scale Pilot Programs for Retail – Buying A Car & A Home in Terms of Ounces of Gold. Savings in Terms of Ounces of Gold.
  • Educate Public
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The Gold Dinar

Role of Imams & Religious Leaders and Teachers

  • Meaning of Riba as Compared to Riba-Free.
  • Transacting in Fiat Money is Haram, If Can Be Removed, By Shari’aa Stipulation
  • Explain the Stage-Wise Approach to be Used to Shift Over to Gold Dinar.
  • The History of Gold As A Currency & the Bimetallic System of Islamic Currency.
  • Saving & Transacting in Dinar as the Final Leg to Contrast Riba with LaRiba.
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The Gold Dinar

RESEARCH: STUDY HISTORY!

Who Does Not Learn from Lessons of History is Condemned to Repeat Them

  • Understand The History of:Mono-Metallic, Bimetallic, Symmetalic and Commodity Reserve Currency Systems & Reasons Used to Change Over. Bimetallic Movement and How It Died Down in 1890’s in Europe and the Adoption of Monometallic Gold as the Standard.
  • The Effect of Vast Gold Discovery in Canada & South Africa and Advances in Production Technology on The Gold Reserve System (400 Mill Marks in 1883 to 1,600 Mil. Marks in 1906.)
  • The Problem of Inadequate International Reserve System in 1920’s and the Effect of Lower Gold Prices on Reduction of Gold Production and the Great Depression in 1930’s.
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The Gold Dinar

RESEARCH: STUDY HISTORY!

Who Does Not Learn from Lessons of History is Condemned to Repeat Them

6. The Effect of Small Interest Differentials, under the Gold Standard (When People had Complete Confidence in the Maintenance of the Fixed Rate on Short-Term Capital Flows. This was Precisely What Enabled Britain to Get Along with a Small Gold Reserve in the 19th Century.

7. The Advantages of Going Gold Over Floating or Adjustable Peg & Currency Boards MOST IMPORTANT is the Much Smaller International Reserve Requirement Needed.

8. What Happens If: Gold is Effectively Monetized and Any New Speculative Bubble in Gold Market would Increase Value of Gold Reserves.

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The Gold Dinar

RESEARCH:

9. Simulate Past Inter-Country (s) Trading Experience Especially During Times of Gold Price Instability. How Can The Bank Help in Hedging.

10. Develop A Computer “War-Game” To Simulate The Intelligence of the Currency Traders Against That of The Gold Dinar Supporters. Stretching the Model Under Severe Conditions.

11. Develop Scenarios That Can Be Used To Discredit the New System and Recommend Solutions.

12. Develop Ways & Strategies To Disengage Thinking in Hard Currencies and Reinforce Thinking in Gold Dinar.