Arabs want a unified monetary system?

pmbug

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The Arab Center for Research and Policy Studies (ACRPS) recently published the Arab Opinion Index report for 2011. The Arab Opinion Index project is currently the largest of its kind. It covers 12 countries, representing 85 percent of the population of the Arab world. The Index compiles the findings of 16,173 face-to-face interviews with subjects who were drawn from a random, representative sampling of the populations of their countries of origin. ...
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Some of the more important highlights of the survey that are included in the preliminary report are:
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* Roughly three-quarters support lifting travel and trade restrictions between Arab countries, the establishment of joint Arab military forces, and a unified monetary system. This highlights the similar belief, uncovered by this survey and shared by a clear majority of the respondents, which holds that citizens of all Arab states belong to a unitary Arab nation.
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http://english.dohainstitute.org/Ho...sourceId=137413a0-bde2-43a0-b3f4-aa77e3f34991

:paperbag:
 

pmbug

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I would hope so. Not sure how much the locals there know about what's happening with the Euro.
 

swissaustrian

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DCFusor

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You'd think they'd take one look at the failed Euro experiment and run like hell.
You can't have unified money without a unified everything else (spending and taxing anyway, which really is what any government is all about, and the source of all the power), we've kind of proved that one the hard way, I think.

Of course, the whole idea of separate countries - or even secular civil government - is anathema to Islam if I read it right, but like Christians and the Bible (or any other religion and their book), it seems they ignore the inconvenient parts when it suits them.
 

DoChenRollingBearing

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I cannot see the Arabs uniting or even using one system of money. Exhibit A is Iraq, majority Shi'ite, minority Sunni. Exhibit B was the the old "United Arab Republic" which was Syria and Egypt for a time. Exhibit C is Libya now, the TRIBES are at each other's throats... D is Syria now, Alawites vs. the others. E & F would be Saudi Arabia and Bahrain (with local Sunni vs. Shi'ite problems).

And like DCFusor says above, if the Europeans (scuse me, Yurpeens or Yopeens) cannot get a united currency right, no way the Arabs can,
 

ancona

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Every time a countries leader proposes using anything other than dollars, and especially when they propose using gold in any way for transactions, they end up dead and with their country torn asunder. with Iran rattling their saber about trading oil and gold for food and what not, expect the bombs to start raining down any second.
 

DCFusor

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Only after the electrions ancona - Israel promised to wait.

I mentioned the gold thing on another board in a discussion of gas prices. The response cracked me up with its sheer stupidity - they thought it was because it wasn't traceable. Sure, until you change it into food or whatever to save your people with it, or gee, get it in exchange for oil.

We have cameras in space with sub-meter resolution, and drones that can count your whiskers. Did these morons think we couldn't track a tanker the size of many football fields going 6 knots to where it was going? Ahem.
 

DSAbug

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You'd think they'd take one look at the failed Euro experiment and run like hell.
You can't have unified money without a unified everything else (spending and taxing anyway, which really is what any government is all about, and the source of all the power), we've kind of proved that one the hard way, I think.
Having a common currency wasn't what caused failure. What caused the failure was the way governments operated huge budget deficits and made promises they had no possible way of keeping. The Euro COULD have been sound. In fact, having so many countries needing to agree to self destruction was one of the most bullish cases for having a common currency. That should have forced countries into being fiscally responsible. The problem was the ECB and various governments within the EU had no backbone.

Come to think of it.. The middle east is filled with nations with a long history of exploiting it's people. They will fit right in..
 

DCFusor

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That was my point, maybe I phrased it wrong. You can't make a common currency work if you don't also have a common control of spending, too. Lack of that is how individual governments could run up those deficits. Since we know humans have little backbone in this area, that's why you needed common fiscal control, not just a common ECB.
 

DSAbug

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That was my point, maybe I phrased it wrong. You can't make a common currency work if you don't also have a common control of spending, too. Lack of that is how individual governments could run up those deficits. Since we know humans have little backbone in this area, that's why you needed common fiscal control, not just a common ECB.
Budgets shouldn't matter as long as the currency is stable.

If Texas has a budget surplus and California defaults, Texas might be impacted because of a temporary loss of California as a counter party in trade and Texans that owned California bonds would lose on their investments, but it shouldn't matter for their common currency.

Where you have a problem is when you have common fiscal spending and it's deemed necessary to "save" California. That is where the ponzi is. The rhetoric we constantly hear about how they need "common fiscal oversight" is the EU's way of trying to take away sovereignty. You want defaults when governments act recklessly. Putting the accountability towards an even more removed government body does absolutely nothing.
 

pmbug

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Well friends, things are looking up for free people around the world who value REAL money. I just received an update from reader and physical precious metals stacker Dean Arif, the Program Director of Dinihari Dinar (The Dawn of the Dinar) in Malaysia.

Dean reports that the use of physical gold and physical silver in the form of gold dinars and silver dirhams, has spread from Malaysia to Indonesia and has now gone viral in Singapore, Brunei and Philippines!

Dean writes, “The silver dirham coins will unite the people of this region (Southeast Asia) as the dirhams from Indonesia can be used in Malaysia and the ones from Malaysia can be used in Singapore WITHOUT THE NEED FOR THE MONEY CHANGER’S fiat! And the coins follow WIM (World Islamic Mint) standards (consistent weight, purity and size), so they are fully interchangeable anywhere in the world, making it a true global mode of payment.
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More: http://sgtreport.com/2012/04/free-p...of-gold-dinars-and-silver-dirhams-goes-viral/

 
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