The Preeminence of Gold and Silver as Money

Noureddine Krichene and Hassan Ghassan ()

MPRA Paper from University Library of Munich, Germany

Abstract: Historically, money is gold and silver, supplied by the market on profit criterion. Everywhere, government inconvertible paper money arose from bankruptcy. A government with balanced budgets would never need it. Imposed by force, inconvertible paper is a taxation mean, highly inflationary, and causes impoverishment. Unjust and bankrupt governments will continue to force this despotic money. Islamic Monetary Economics refutes the idea of money as a policy tool. Fully convertible paper is Shariah compliant. Shariah requires a just government to balance its budgets and restore fully gold and silver as lawful money.

Keywords: Money; Gold-silver; Inconvertible paper; Inflation; Bankruptcy; Shariah. (search for similar items in EconPapers)
JEL-codes: E42 E5 F33 (search for similar items in EconPapers)
Date: 2017
New Economics Papers: this item is included in nep-isf, nep-mac, nep-mon and nep-pay
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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https://mpra.ub.uni-muenchen.de/95445/1/MPRA_paper_85798.pdf revised version (application/pdf)
https://mpra.ub.uni-muenchen.de/95445/8/MPRA_paper_95445.pdf revised version (application/pdf)

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