Nov
23

Isis: Buying All The Gold/Silver/Copper They Can Get Their Hands On

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Why is Isis buying up all of the goldIRBIL, IRAQ — The Islamic State is accumulating gold, silver and copper in markets throughout northern and western Iraq, dealers report, in an apparent effort to stockpile enough precious metal to follow through on a pledge to mint its own currency.

On Nov. 11, the Islamic State’s Beit al Mal, an ancient Islamic term akin to “Department of Treasury,” announced that the group would reintroduce the dinar currency of the Umayyad Caliphate, which ruled an empire that stretched from modern Iran to Spain for much of the seventh and eighth centuries.

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