Kuala Lumpur Recommendations: War with swords and a return to bartering and gold transactions

Amr Abdel Moneim

Iran, Malaysia and Turkey gathered at the Islamic Summit held in Kuala Lampur at the end of December 2019 and proposed the idea of ​​creating a new currency that depends on gold, and that is more stable compared to the currencies currently traded.

The new proposal came out in the conference recommendations, saying that the precious metal (gold) can be used to evaluate the activities of exports and imports between the three countries.

The US dollar is the world’s most traded currency for various economic and trade activities around the world.

The new proposal called for settlement of transactions between countries using that (new) currency, gold, provided that this currency is linked to the local currency in relation to the exchange rate of these countries.

The United States of America pegged the value of its currency to gold, which is known as the Bretton Woods system, which lasted until 1971 when the US government decided to stop converting the dollar and other countries’ reserves from dollars to gold.

Iran was not on the list of invitees to attend the alleged summit of the three countries, but after the withdrawal of Pakistan, Iran was invited to attend so that the conference would gain international momentum.

Accordingly, economic sanctions were imposed on Iran, especially after the ban on selling the US dollar to Iran, and imposing sanctions on major industries such as the Iranian auto industry and carpet industry on the agenda of the conference.

At the end of the closed conference sessions, the idea of ​​using a gold coin for internal trade between the three common countries was proposed to overcome the US and Western sanctions imposed on the dollar and try to find new amendments and changes in the financial system of three countries to strengthen them and increase the purchasing power to limit the economic collapse due to the sanctions.

Here, a number of participants in the conference from the Brotherhood intervened to put forward an idea of ​​why we do not reproduce the experience of the ISIS gold coin that it issued in Iraq and Syria in August 2015.

ISIS issued its gold coin just one year after the main bank was looted in Mosul when they stormed the city in June 2014, and it is believed that the organization seized $256 million in cash and a large amount of gold bars, and here the organization managed to offer a gold category of 5 dirhams and 10 dirhams as well as 5 fils and 10 fils.

The organization had announced that the new gold coins would break what it called the “capitalist enslavement” caused by the United States and Europe by issuing the Global Gold Reserve Law in 1934.

The proposal, of course, was widely accepted in the Conference Industry Committee, and was strongly circulated to produce recommendations for the introduction of a class 5 and 10 gold dirhams, and immediately set up a committee to study the feasibility of the project and the success of the idea presented later to some other countries.

The idea of ​​expanding the use of gold in trade is an idea proposed by most of the old terrorist groups, especially al-Qaeda. In their perception that the world will end in a major conflict and all modern means will end and people will return to primitive means in which they use horses, mules, donkeys and swords, the main currency at this time will be gold, silver and the old bartering of food commodities in this traditional currency.

This was put forward in the book called “The International Islamic Resistance” by Al-Qaeda theorist called Abu Musab Al-Suri. He said, “The establishment of the Ottoman army was at the beginning by striking a coin of silver and gold and setting a financial system for the victorious armies at that time.”

The book considers that the emergence of gold mines and tremendous wealth in some Gulf countries was the main driver for the Jews and the global Crusader to control the modern world.

The introduction of the new gold coin by Erdogan and his group and the countries surrounding him is a major political project that Erdogan recently disclosed clearly. This took place when he criticized the five major countries in his speech at this alleged conference, and said, “The world is greater than five countries rule, and that the issues of the Islamic world have become unavailable on the global agenda and that the just representation of the Islamic world on the world political table has become an urgent necessity, in addition to its focus on the Palestinian issue and Muslim minority issues around the world.”

Turkey presents itself in a way that suggests that it has become a global power fighting against the major powers in the world through Erdogan’s repeated mockery of France, his invasion of Europe and his antagonisms with Trump and America, his entry into Syria, and his presence in the Mediterranean and Libya.