Mad Money of the Day: ISIS is Making its Own Currency
The terrorist group the Islamic State (ISIS) announced Thursday that it is planning to make its own form of currency in the form of gold, silver and copper coins.
According to CNN:
Most of the group's income comes from oil, stolen goods and ransom money, so according to Jimmy Gurule, a former U.S. Treasury undersecretary, "you can't just put that money in shoe boxes and place it under your mattress."
According to CNN:
The move is "purely dedicated to God" and will remove Muslims from the "global economic system that is based on satanic usury," ISIS said.The coins will reportedly contain the phrase: "The Islamic State / A Caliphate Based on the Doctrine of the Prophet," and contain - among other symbols - stalks of wheat, a sword and shield, a crescent moon and palm trees.
Most of the group's income comes from oil, stolen goods and ransom money, so according to Jimmy Gurule, a former U.S. Treasury undersecretary, "you can't just put that money in shoe boxes and place it under your mattress."