I read Wall Street Journal early this morning.. aaa, WSJ also talking about Dinar Kelantan today. Below is excerpt of that interesting article..
Plenty of people have their doubts about the dollar, as well as other currencies that aren’t backed by gold or silver.
American libertarians such as Ron Paul frequently call for the reintroduction of a gold-backed currency, arguing that the Federal Reserve’s ability to print money causes inflation and destroys savings.
Gold bulls have developed a cult following among investors who worry that precious metals are the only reliable store of value during rocky economic times.
If there’s a utopia being formed for the globe’s gold bugs, though, it’s happening in a few unexpected outposts in the Muslim world like Kelantan.
An initial run of coins worth about $640,000 and ranging from one dirham—containing about $4 worth of silver at current prices—and one dinar—worth $189—to an eight-dinar coin worth $1,518 sold out quickly, prompting Malaysia’s political leaders to say the paper-based ringgit, worth around 32 U.S. cents, is still the country’s legal currency.
What make it interesting is, before this I only read comments from local people (hot topic among us) but today we can read comments from outsiders.
Read more at Wall Street Journal