No, not President Trump talking down the dollar… Not China further manipulating their currency… Not a U.S. cyberattack… No, not even a dramatic rise in the cost of living….The biggest threat to your dollar is just around the corner
The U.S. dollar, once the symbol of America’s independence, is now just another fiat currency, dependent on foreign nations – including the Islamic nations in the Middle East that feed our oil dependence.
By March 31, 2017, new Islamic finance standards will give the Muslim world good reasons to move away from the U.S. dollar and toward gold-backed money. Devout Muslims have – for almost 1,400 years – been uncertain about the exact rules involving gold ownership under religious law. Most, therefore, have been reluctant to invest in gold.
But on December 5, 2016, gold investment was at last clarified for the Islamic world. By or before March 31, 2017, Muslim banks and other institutions are expected to implement this clarification by making available a new range of investment instruments that are fully compliant with Islamic law.
This new law could unleash the greatest pent-up demand for gold ever to happen on a single day. Our bigger concern, however, is protecting your wealth; which will be in danger if you do nothing. If a trillion extra dollars suddenly enter the world economy, each dollar you have invested or saved will lose more purchasing power. As millions of devout Muslims worldwide begin exchanging trillions of debt-based US dollars for value-based physical gold, could this be the straw that breaks the dollar’s back?
by Craig R. Smith and Lowell Ponte.