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Thursday, May 14, 2015

Current Events-Reserve Currency Alternative

Rumor has it that the IMF will announce a world reserve currency alternative on October 20th. After doing my own research, it appears to be just that, rumor. I checked the IMF page itself and such an announcement or anything closely related to it is nowhere to be found. However, I did find an interesting section on the IMF webpage.


Apparently, religion plays a role in the IMF as outlined in this section of its webpage. The word "Islamic", is used casually and nonchalantly, as if it were in use for what appears to be a long time now. It includes descriptions of how the religion views finance, what is or isn't prohibited, and uses specific terms like "sukuk"-Islamic equivalent for bonds-to add further to its advocacy thereof.

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