ISIS Mints Gold Currency – The Exchange Rates Might Shock You

Are we seeing signs of desperation in the way Da'esh is operating. They are minting currency that has no value except for the value of the metals used to make the currency. This means that the exchange rates between the coins they are minting and other countries monies is meaningless as long as no other country recognizes the value of their minted money. Since Iraq and Syria both lack natural deposits of gold this means that the materials they are using to mint these coins are likely stolen from the Mosul bank or were purchased on the black market, "which no doubt cost much more than standard market prices. " "Experts say ISIS is simply spreading the idea of the currency to give itself an air of legitimacy."