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ISIS Goes Full-Wall Street, Rigs FX Rates To Generate Extra Profits
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
zerohedge.com / by Tyler Durden / 02/22/2016 18:31 -0500
While such things are virtually impossible to verify due to the difficulty of getting “inside the caliphate” so to speak, word on the jihadist circuit is that ISIS is running short on money.
Successive rounds of Russian strikes on crude tankers and on the group’s oil infrastructure have crippled the illicit oil trade and tax revenue has also fallen in the wake of Baghdad’s decision to stop paying the salaries of public sector workers in Islamic State-held Mosul and other militant strongholds. Typically, Baghdadi would tax those earnings by 20% to 50%, creating a key revenue stream for the caliphate.
Additionally, ISIS is now reportedly beginning to release captives for as little as $500 and has moved to accept only US dollars as payment for utility bills, a policy we said is somewhat ironic given that it was last August when the group released a propaganda video promising to bring back the gold dinar to replace “a worthless “piece of paper called the Federal Reserve dollar note.”
But perhaps the surest sign yet that the self-styled caliphate is running into financial trouble comes from several on-the-ground sources who told AP last week that ISIS is no longer giving away free Snickers bars and Gatorade to its fighters.
Now, we learn that Islamic State has resorted to a tried and true method of generating “a little” extra profits here and there: currency manipulation.
The post ISIS Goes Full-Wall Street, Rigs FX Rates To Generate Extra Profits appeared first on Silver For The People.
Thanks to BrotherJohnF
Source: http://silveristhenew.com/2016/02/23/isis-goes-full-wall-street-rigs-fx-rates-to-generate-extra-profits-2/
