Anyone with a strong interest in precious metals and currencies is probably already aware that there is a sizeable body of opinion in the U.S.A. that believes paper money is essentially a fraud on the people. They feel that the American Republic was essentially stolen from the American people through the creation of a central bank issuing debt-backed paper currency.

It is a point of view that has gained more traction in recent years as the price of gold skyrocketed with the advent of a massive program of “quantitative easing” by the Federal Reserve, i.e. the issuing of enormous amounts of debt-backed paper money into the financial system. The establishment’s answer to a massive global crisis of debt that shook global markets in 2008, was the creation of still more debt to stabilize the system. The argument goes that the price of gold did not so much rise as the “price” of paper dollars collapsed; likewise the bull market in stocks was actually a very strong bear market in U.S. dollars as priced against real assets represented by corporate equity.

ISLAMIC STATE HAS “GOLD BUG” OPINIONS ABOUT DEBT-BACKED PAPER CURRENCY… AND ARE BEGINNING TO TAKE ADDITIONAL STEPS TO GET THEIR OWN STRICTLY METALLIC CURRENCY SYSTEM UP AND RUNNING…

What you might not be aware of unless you live in the Middle East or take a keen interest in that region, is that Islamic State has exactly the same “Gold Bug” opinions about debt-backed paper currency, or any paper currency at all for that matter, and are beginning to take additional steps to get their own strictly metallic currency system up and running, building on recent announcementsmade in the same vein.

Of course, it is one thing to disapprove of or be suspicious of debt-backed currencies and the creation of ever-larger amounts of sovereign debt, and quite another thing to believe that paper currencies are by nature diabolical instruments used by the illuminati to control and enslave the peoples of the world. Islamic State tend towards the latter view, and what is very interesting about this is how this view corresponds with the views of far-right and neo-Nazi groups in the U.S.A. There is a story to be told about how elements of Islamist political thought were profoundly influenced by American far-right and German Nazi propaganda of the 1930s and 1940s, to the point where the same views are now being re-exported by groups such as Islamic State. Islamist political thinkers before the 1930s disapproved of debt-backed currencies, but did not see such instruments as part of a global conspiracy. Of course, a combination of political events of the mid-20th century has made it easy to promote this view by pointing to constant wars and global conspiracies.