“As a medium of exchange, money needs to have convertibility and liquidity. Paper currencies have these qualities, so does gold. To add to the store of value, money needs to retain its value over long periods.
“Gold has retained its value, though with fluctuations, over centuries. Even now its purchasing power in terms of physical assets is not far distant from 300 years ago, before Isaac Newton’s recoinage of 1717. Most paper currencies lost more than 98 per cent of their purchasing power in the 20th century alone.” (William Rees-Mogg, The Times, February 25, 2008)
http://tinyurl.com/2bqlpz
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Abdassamad Clarke is from Ulster and was formally educated at Edinburgh University in Mathematics and Physics. He accepted Islam at the hands of Shaykh Dr. Abdalqadir as-Sufi in 1973, and, at his suggestion, studied Arabic and tajwid and other Islamic sciences in Cairo for a period. In the 80s he was secretary to the imam of the Dublin Mosque, and in the early 90s one of the imams khatib of the Norwich Mosque, and again from 2002-2016.
He has translated, edited and typeset a number of classical texts. He currently resides with his wife in Denmark and occasionally teaches there.
14 May, 2023 0:03
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As-salamu ‘alaikum,
This article here: http://www.lbma.org.uk/publications/alchemist/alch44_goldcurrency.pdf
Confirms and follows the same theme. Everyone is looking at gold now it seems. Or at least looking away from the dollar.
Gold fare better when lead sleeps with the dead.