Some Archaeologists in France with the National Center for Scientific Research announced that they have unearthed a hoard of 2,200 silver deniers and oboles, 21 Islamic gold dinars, a very impressive gold signet ring from the Abbey of Cluny, located in Saône-et-Loire, reported by Mining. While they have claimed this is the largest hoard and seem confused as to why there were 21 Islamic gold dinars, their lack of knowledge of the world monetary system has been exposed by their claims.

The gold dinars were minted between 1121 and 1131 under the reign of Ali ibn Yusuf (1106–1143). There was no gold coins issue by Europeans until the 13th century. The gold dinars were replacing the Byzantine coinage, which was being debased going into the Great Monetary Crisis of 1092. The dominant coinage to replace Byzantine was that of the rising Islamic empire.

Further proof that Islamic dinars were replacing Byzantine coinage in world trade is the rare issue of Offa, who was a king in Mercia, England (757-796). It was Offa who reestablished the silver coinage in Europe coming out of the Drak Age. He struck this coin copying the Islamic writing with no real understanding what it even said. He then inscribes his name “OFFA REX” (king Offa) as a statement of power. However, the mere fact he is imitating the Islamic dinar demonstrates it acceptance in international trade as early as the 8th century.

While the archaeologists seem astonished to find gold Islamic dinars in France, they obviously lack the knowledge of the monetary system. Part of the Dark Age was driven by superstition. Bathing fell out of practice because a Roman bathhouse began to imply a brothel so it became un-Godly to bathe. Being able to use charts and maps was the work of the devil. Captains of a ship were usually Jewish who had no religious problem with such instruments.

The Arabs controlled the seas and as such trade. Therefore, we find Islamic gold dinars throughout Europe as evidence of world trade. They are rare since most had nothing to really trade. Nevertheless, a hoard with 21 gold dinars reflects someone of wealth and engaged in international trade.

COMMENT: Marty; You have beaten Soros. Don’t know if you have seen this, but they now report “George Soros finishes his crash bets against the US stock market. The investor legend seems to have lost its way and acts with little fortune. Now he has to reveal himself.”

PC

REPLY: Interesting. Soros became famous with the bet against the pound. But let’s make this very clear. That was a “riskless” trade betting against the break of a peg. If you are wrong, the peg holds and you get your money back. If you are right, you make a fortune. Everyone was betting against the pound. That was the coup against Margaret Thatcher who really wanted to take Britain into the euro. They forced the pound into the Exchange Rate Mechanism (ERM)  and placed it at a high rate became Europeans still think the higher the currency the stronger the economy, which results in deflation. That was an easy trade. It is no different from going to a casino and betting or red or black and when you lose, they give your money back until you win.

Soros is old school. He still believes in the Quantity Theory of Money and has been a punter short-term, but when it comes to long-term strategy, sorry, I do not believe he actually grasps the entire picture.

Anyone who has been bearish on the US stock market since 2010 constantly calling every new high the final high, is attempting to forecast with personal opinion. That will not survive the type of move we have been in since the 2009 low. Even Barron’s laughed at out forecast that the Dow would make new highs back in June 2011. All of these people (MAJORITY) totally misconstrue even how the economy really functions because they are still influenced by the theories that were indoctrinated into in school after the 1930s. They obviously lacked the curiosity to challenge what was being taught and look with open eyes and mind and simply ask – Did it work?