It should be clear by now that paper money – which we use to make almost all of our cash transactions today – is not backed by gold.
In August 1971, then-President Richard M Nixon abolished the International Gold Standard (Lehrman, 2011), making it the first time ever that currencies were no longer backed by gold. Three months later, the Smithsonian Agreement was signed, where countries agreed to appreciate their currencies against the US Dollar. (Emminger, 1986) Therefore, up till this day, all known “legal tender” currrencies worldwide are not backed by gold, but by US Dollars. And the US Dollar is backed by nothing.
Paper money, as we understand it, has value only because of legal compulsion; it is forced on us by governments in power – that is why it is called “legal tender”. It has value only because we are forced to use it. But as its supply gets larger, its monetary worth gets less.
By contrast, the Gold Dinar and the Silver Dirham – two coins dating from Arabia in the 600s AD – are so called because they are, well, made of gold and silver. And by that we mean actual gold and silver, which store actual value in them. The use of Dinar and Dirham will promote a stable currency, and for us at Peace and Love Scooters it is a step towards freeing everybody from being bound by unstable financial systems.
As you might have guessed, the dinar and dirham are valued based on the current price of gold and silver, and therefore are not affected by inflations or recessions. Gold and silver prices, of course, have seen fluctuations due to the markets; however, these fluctuations have remained rather negligible over the centuries (Jastram et al., 2009). In the 600s, a chicken cost only one dirham; today, more than 1425 years down the line, a chicken still costs one dirham. Therefore, as far as usage of the dinar and the dirham as money goes, inflation is zero. (Vadillo, 2013; Clarke, 2019)
And the best part is, dinar and dirham can be used as money, and globally! 🙂
Is this a new thing?
Thankfully not. Contrary to popular belief, the modern Gold Dinar and Silver Dirham were first minted, NOT during the Great Recession (2007-present), but in reality as early as 2000. At the time, no less than seven (7) years before the Great Recession, some mints were already producing their own gold dinars.
Then in 2002, this came to the attention of some politicians, who proposed Gold Dinar standards for global usage. Throughout the mid- and late 2000s and early 2010s, an increasing number of mints introduced the dinar and dirham. Even if not legal tender, many shops, businesses, and services began accepting them as money.
What’s the decorum?
Traditionally, a gold dinar is a coin of pure gold, weighing about 4.25 grams; and a silver dirham is a coin of pure silver that weighs about 2.975 grams. Weight-wise, 7 gold dinars = 10 silver dirhams.
Like all coins, dinars and dirhams may be minted into varying denominations (see “Where can I get dinar/dirham from?” below). Their price will be established in relation to the goods they are exchanged for. Quite naturally, at the beginning the most dominant reference for price will be paper-money, for all the new Dinars and Dirhams will have to be purchased with paper-money in the Mint. The price will be first uniquely established by the value of the coins at the Mint.
The coins will start to circulate through the community, and the Mint will continue transforming more and more paper-money into Dinars and Dirhams. At a certain point, the amount of coins in circulation being bought and sold by the public in exchange for other goods, will reach such a level, that the amount of new coins coming from the Mint will be marginal in relation to the total amount in circulation. At such a point, the price of the Dinar will naturally be established, in terms of a new set of references of the goods for which it is mostly exchanged, just like the price of paper-money is usually referred to certain common merchandise and services. The general consensus is that people will say one Dirham can buy a chicken (or in modern context, an average Zinger Double Down meal from KFC). That is the price of a Dirham.
Dinar and Dirham prices are independent of each other. There is no fixed rate of exchange between them. The existence of more than one currency side-by-side, like having gold and silver, gives the individual a choice. If one currency consistently loses its value, people will abandon it and choose another, unlike most countries where the governments keep for themselves the right to establish their legal tender.
Gold is independent of the financial system and the governments. It prevents governments from taxing their own people through the currency. Keeping money out of the control of politicians is its best guarantee for stability. Ultimately,the privatisation of money will have to be the final resort of all free societies in their search for a sound money to carry out their commercial activities.
Who accepts dinar/dirham as payment?
The dinar and dirham are, sadly, not legal tender. And most shops, businesses, and services around the world do not accept them. Thankfully however, there are a minority that do; they will usually display this sticker in their premises, in either English…
… or Arabic:
Shops, businesses, and services which display the above stickers, are those that do allow payments and transactions using dinar and dirham in their establishments, and they are believed to be located worldwide. However, as of 2013, it seems that the vast majority of shops that currently accept dinar and dirham are – incidentally – not in the MENA region, but in Southeast Asia. (Vadillo, 2013; World Islamic Mint, 2013)
In the UK, only one city is believed to have shops that do accept dinar and dirham – Norwich, which reportedly has such businesses as an acupuncturist, a cafe, a few designers and traders who set up stalls in a local market, and a barber. The barber in question, an immigrant from Egypt, is believed to have accepted the dirham as payment for haircuts “right at the start” of his “having his own business”; he feels that this will help the likes of us see the “types of change we are witnessing in a practical manner” and understand that the use of dinar and dirham is “the economic cure”. (World Islamic Mint, 2013)
What about us?
Here at Peace and Love Scooters, we are firm believers in financial management and planning. What many will call “saving for a rainy day”. Some believe in saving in banks, which is what most of us do today. But we also believe there has to be a currency that will stand the test of time that will be something we can fall back on in the event of any unforeseen mishaps. The investment in the dinar and dirham will certainly help us to that end. It’s like a bank savings account that you and you alone control, not subject to “random” checks by Police or any other authority/political figures.
Unlike other well-known bullion coins (American Eagles, Canadian Maple Leaves, Chinese Gold-Pandas, etc), which are also commonly used as hedges against inflation, the Gold Dinar and Silver Dirham are a lot more than just hedges against inflation – they can also be used as money, to pay for goods or services. Establishments that accept the use of dinar and dirham will display a sticker indicating such (see above).
Our dear brother Alhaji Nasreen Mohammed Nouryacoub, a native of Khartoum in Sudan but now believed to be based in the US, has himself always been in favor of the Gold Dinar system, the closest of which had been used in his native country between 1992 and 2007, if not to the same extent or standard as described above. Nasreen has gone out of his way and done us many favors since 2011. It is only right that we should return the favor by investing in the Gold Dinar and Silver Dirham, as he had done before us.
And finally, investing in the Gold Dinar and Silver Dirham is also our biggest middle-finger against the conservative establishments that have been governing the whole world for the longest time; the imposition of the paper money system has sadly caused corruption in virtually every government and large corporation around the world, whom we can see doing such things as throwing parties during a pandemic, forcing pre-pubescent boys to shriek their heads off like chipmunks in big cathedrals, blaming and persecuting vulnerable minorities for allegedly “causing” their perceived financial woes, and so on. These countries may appear to have a “high GDP”, but that wealth sadly is concentrated in the hands of politicians and large corporations; in reality, most of their common people are deadass poor. By restoring true value of money with the dinar and dirham, we are liberating ourselves from this satanic financial order that has enslaved and impoverished all of us for the longest time.
Therefore, we hereby intend to propose the usage of dinar and dirham within Peace and Love Scooters and all of its subsidiaries for any and all transactions.
That said, it should be noted that this is not intended to replace the usage of the pound sterling (GBP), but rather to complement it. We understand and respect everybody, and we are 100% aware that some prefer to use Pound Sterling, while others like us prefer the use of Dinar and Dirham, and still others are OK with both; everybody is different, and everybody’s preferences should be respected – freedom of speech, expression, and preference is the essence of the First Amendment.
It is our hope nonetheless that one day, someone in appropriate authority will officially grant the Gold Dinar and Silver Dirham a full currency status that can be used not only globally but also in every shop without exception.
Where can I get dinar/dirham from? What’s the cost?
Luckily for us, there is a mint available in the UK, the Sunnah Currency mint: https://uk.sunnahcurrency.com . It is based in Bolton, Manchester, England.
On the Sunnah Currency mint website, gold dinars are divided into denominations of:
⁃ Half-dinar: 2.13g, 16mm, 210++ GBP
⁃ 1 dinar: 4.25g, 21mm, 400++ GBP
⁃ 2 dinar: 8.5g, 22mm, (COMING SOON)
⁃ 5 dinar: 21.25g, 25mm, (COMING SOON)
⁃ 8 dinar: 34g, 32mm, (COMING SOON)
And silver dirhams are divided into denominations of:
⁃ 1 dirham: 2.975g, 22mm, (COMING SOON)
⁃ 2 dirham: 5.95g, 25mm, (COMING SOON)
⁃ 5 dirham: 14.88g, 32mm, (COMING SOON)
⁃ 10 dirham: 29.75g, 41mm, 50++ GBP
⁃ 20 dirham: 59.5g, 50mm, (COMING SOON)
Everybody in Peace and Love Scooters is strongly encouraged to invest in and use Dinars and Dirhams as money. For more information, please visit https://uk.sunnahcurrency.com today and buy your first Dinars and Dirhams – they will soon be the currency with which you will be buying your everyday essentials!
Sources
- Clarke, A. (2019) Using Dinars and Dirhams. Bookwright. [online] Available at: https://bokvaerker.dk/programme/gold/gold10.html (Accessed: April 8th 2025).
- Emminger, O. (1986) Das Smithsonian Agreement – eine international abgestimmte Korrektur der Währungsparitäten (in German). DVA 1986. ISBN 3-421-06333-8.
- Jastram, R. W.; and Leyland, J. (2009) The Golden Constant. Edward Elgar. ISBN 9781847202611, 1847202616.
- Lehrman, L. (2011) ‘The Nixon Shock Heard ‘Round the World’, Wall Street Journal, August 15th.
- Vadillo, S. U. (2013) Muamalaat, The Alternative to the Riba System Exists. WordPress. [online] Available at: https://umarvadillo.wordpress.com/2013/10/19/muamalaat-the-alternative-to-the-riba-system-exists/ (Accessed: April 5th 2025).
- World Islamic Mint. (2013) Report of the Dinar and Dirham in Norwich. Dinarshops Network. [online] Archived from the original at: https://web.archive.org/web/20130901172526/http://dinarshops.com/single-news96.html (Retrieved: April 5th 2025).