"ISIS has announced plans to mint its currency in gold, silver and copper. In a statement the group said that it wanted to stay away from the “tyrant’s financial system” and issue a currency that would be “dedicated to God” and get Muslims out of the “global economic system that is based on satanic usury.” -- John Weru MainaThis isn't a surprising development with these clowns from a theological/historical perspective. Using precious metals as money doesn't eliminate the possibility that someone might charge someone else interest of some kind, but it does go a long way toward curbing or even eliminating the worst kind of financial monkey wrenching: deliberate money supply inflation done to facilitate out-of-control .gov spending, which ultimately falls on you and I like a ton of bricks.
It's a bit ironic then that this fiscally sound move by ISIS could instead be one of the best weapons to use against them, simply by applying some central banking stupidity to the situation: their new money could be gathered up, melted down, and replaced with an increased quantity of cheap fakes, much like what has been done to our coinage here in the U.S. We do it to ourselves, so why not do it to them, too?
State actors and/or enterprising individuals could carry out this financial sabotage of these assholes, and potentially at a nice profit. This would simultaneously drain ISIS of more of their assets and destroy all confidence in their money as their supply of precious metals is depleted and rampant inflation rocks their domain. Since no nation state recognizes them, uncontrollable inflation of their money supply will not be absorbed by foreign central banks using their money as reserves. That would put these shithouse rats on a collision course with the same fate as Venezuela, a country that also has oil wealth but thanks to sheer .gov stupidity really can't benefit from it, and it might even screw over anyone who does business with them.
We get their gold, we get their oil, and all they get in return is funny money and a whole bunch of bombs dropped on their heads, possibly even paid for with what was their gold. Sounds like winning to me!