Gold and silver are without doubt the most stable currency the world has ever seen. From the beginning of Islam until today, the value of the Islamic bimetallic currency has remained surprisingly stable in relation to basic consumable goods. This is unlike the “paper money” of modern times which can inflate by printing more of it or dependent on the mechanics of a financial system.
The Islamic silver coin is called the dirham. It has survived, despite all the attempts by governments to transform it into a symbolic currency by imposing a nominal value different from its weight. The dirham was known in pre-Islamic Arabia and during the advent of Islam, any silver coin was called a dirham. It was also a unit of weight and coinage. It also represented a monetary unit that might or might not be represented by a circulating coin. This makes dirham a word with a multiplicity of meanings.1
Through Monex Deposit Company (MDC) you can purchase silver or other precious metals for immediate personal delivery or arrange for convenient and safe storage at an independent bank or depository. For over 30 years, the Monex companies have been America’s silver and precious metals investment leader. As an investment product, silver is available in coin or ingot form. Ingots are generally silver ingots of pure bullion cast in a convenient size and shape. Coins have a currency value or they are actually defined as ingots. There may never be a better time for buying silver bullion than right now.
World demand for silver now exceeds annual production, and has every year since 1990. Above ground stockpiles of silver bullion are low, shrinking rapidly and approaching zero. Monex Precious Metals is home to a large and dedicated staff of hard asset professionals committed to serving your precious metals investment needs and being America’s best dealer with a convenient market and competitive precious metals prices.
The consequences of this process will be many, we will see the creation of an Islamic Trade Bloc with a common currency, the Islamic gold dinar and silver dirham. Then, the reunification of the Muslim Ummah, the reshaping of the power balance in the world, the end of the dollar supremacy and the end of oligarchies of millionaires and billionaires, in favour of the poor and progress which will benefit the people, and not the corporations.
- See Islamic Awareness, “Dirham” In The Time Of Joseph? [back]