Dominic Lawson’s latest piece in the Independent highlights a much needed articulation in the Press of the virtues of the Gold standard against the curse of Western Finance - one that is underpinned by the Fiat standard.
Unlike Fiat currencies - money that has no tangible backing - gold never overstates its earnings, understates its liabilities or declares bankruptcy. Gold has been used for centuries in societies, and is divinely ordained as one of the currencies stipulated by the Shar’iah.
After World War One, the United States became established as the leading …

بِسْمِ اللّهِ الرَّحْمَنِ الرَّحِيمِ
The real-estate crisis exploded in America and engulfed mortgages, rendering debtors unable to pay their loans. Major banks and financial corporations either collapsed, or are on the verge of bankruptcy. Incited by attractive subsidy packages and public announcements of anticipated heavy profits, international banks and investment funds rushed to this sector. So, the collapse of American banks and financial establishments, globalised, spreading to the world. It is as if America sneezed, infecting the entire world, which has now caught its cold.
Some financial sector sources have estimated the …