Al-Raya Newspaper: Between Gold and the Dollar
October 28, 2025

Al-Raya Newspaper: Between Gold and the Dollar

Al Raya sahafa

025-10-29

Al-Raya Newspaper: Between Gold and the Dollar

In the era of President Nixon, on August 15, 1971, America abolished the Bretton Woods Agreement, which fixed the price of gold at $35 per ounce. The main motive for this historic decision was the massive increase in the amount of dollars issued by the Federal Bank, especially the funds allocated by America to save Europe, known as the Marshall Plan. Europe accumulated an estimated $10-40 billion by 1971, equivalent to 11.2- 40.8 tons of gold according to the Bretton Woods Agreement. This exceeded America's gold reserves, which, according to 1971 statistics, amounted to 10,000 tons. America had no choice but to abolish the commitment to the Bretton Woods rule, which allowed global central banks to exchange their dollars for gold. Despite Europe's opposition, especially France, when America abolished the agreement, America continued with its decision and forced Europe to follow this path, especially when it managed to convince (or force) OPEC, led by Saudi Arabia, to replace the gold-for-dollar rule with the oil-for-dollar rule, known as the petrodollar standard.

Looking at the relationship between the dollar and oil and the relationship between the dollar and gold, we find a major dilemma facing the monetary system controlled by America. After the dollar broke free from the constraints of gold, and then from the constraints of economic growth that Reagan worked to untangle during his term (1980-1988), America allowed the issuance of massive amounts of dollars that exceeded its gold reserves or products traded in local and global markets.

The amount of dollars in the global market has reached very large quantities. The cash available in the form of real cash (M0) amounts to $8.3 trillion, and the amount of dollars traded through bank checks (M1) is $56.7 trillion. If we add to this the savings accounts of banks (M3), which are worth $57 trillion, the amount of dollars at the global level becomes $123 trillion. However, the global financial group EBC estimates the value of dollars worldwide at $471 trillion. This means that the amount of money estimated in dollars could deplete all the gold available in the world, whether it has been produced or not. The amount of gold discovered worldwide, according to the US Geological Survey, is estimated at 244,000 tons, in addition to 50,000 tons estimated to exist underground. If we consider the amount of gold discovered with the gold expected to be discovered later at 300,000 tons, this means that the available dollars issued by the Federal Bank, or that it can use, are sufficient to buy all the gold in the world at the current price with less than 7% of the amount of dollars available in the world.

It is true that gold is not the basis that governs money, and that converting dollars into gold is not forcibly imposed on countries, but the only thing that America guaranteed after abolishing the Bretton Woods Agreement is the stability of the trading price between gold and the dollar. Herein lies the danger of the massive accumulation of dollars, which is sufficient to buy all the world's gold 15 times over.

On the other hand, what is known as inflation means a noticeable increase in the amount of money in circulation or available for circulation compared to the existing goods that can be purchased with the available money. It is true that inflation can be measured by the existing consumer goods such as food, or used goods such as machines, or strategic goods such as weapons, but gold remains the most important indicator of inflation, especially if it becomes highly sought after for investment or storage. If we look at the quantity and value of the assets used by people worldwide, distributed among food, medicine, military, space industries, and complementary industries, along with gold, it reached about $40 trillion in 2023, and $64 trillion in 2024. If we compare this value with the money in circulation only, which amounts to $160 trillion, we realize the seriousness of the financial situation at the global level. It should be noted here the large increase between the value of goods traded during the years 2023 and 2024, which amounted to 4 trillion dollars. This terrible increase is an increase in the prices of goods and consumer and strategic materials, and not necessarily an increase in consumption.

What is being traded today and is noticeably observed, which relates to gold prices, is only because gold is the material whose price can be increased significantly without creating global chaos. Instead of raising interest rates significantly to curb inflation, and a noticeable increase in consumer goods, eyes turn to gold as a good haven, as its rising prices do not affect people's lives. Rather, its rising prices are seen as an investment opportunity, and not a manifestation of the inflation that most of the world's population suffers from.

The bottom line is that the fundamental issue around which the issues of rising prices, whether in gold or other goods, revolve is a natural result of the main issue, which is the process of issuing money. The world lived for long centuries dealing financially with one currency, which is gold or what represents it of circulating money. This system can never suffer from inflation at all. On the contrary, increased production always leads to lower prices naturally, unlike the capitalist system whose financial part America imposed.

The question remains: Is it possible to return to the gold standard, so that gold becomes the currency circulating globally, and the prices of all efforts and money are estimated in gold and silver, for example? The answer does not only relate to a financial system, but to the economic system as a whole, and to the political system that can make economic decisions regardless of the positions of other countries. This is easier said than done, as it is a decision that provokes the first country in the world, America, which considers separating gold from any monetary base as one of the foundations on which it relies in achieving great sovereignty over the world. We have seen how Europe, which is the most capable of confronting America, at least 55 years ago when it abolished the gold standard, was unable to stand in front of America. Likewise, the Soviet Union did not find any way to challenge America in that decision, and contented itself with buying foreign currencies with real gold in order to buy goods from different countries of the world, even if it had greatly reduced its import of global goods.

Even today, the emergence of organizations such as BRICS and Shanghai is talking with great caution about the global monetary system. All they talk about is inter-trade between members of these organizations, using their own currency. Their strategy does not rise to issuing a currency that depends on gold at all.

America has succeeded in making money and dollar control a strategic issue in its dealings with the world, and any deviation from it may lead to very serious consequences, and the most powerful countries in the world are fully aware of this, and are working hard not to provoke it.

Hence, challenging the global monetary system must be part of challenging the global system as a whole, whether on the intellectual principled aspect, or the economic, including financial, or political aspect. This is never available except in the Khilafah, which possesses the political and economic system, based on enlightened thought, and possesses control over the most important natural resources such as gas, oil, and minerals, as well as control over the important waterways in the world. This is in addition to a huge human energy. The Khilafah state, which will be established soon, God willing, is the only one that can provide the whole world with a financial system accompanied by an economic, political, and human system based on a principled thought that is not based on interest at all, whether immediate or future.

By: Dr. Muhammad Jailani

Source: Al-Raya Newspaper

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Ar-Raya Newspaper: Ar-Raya Miscellany – Issue 573

Al Raya sahafa

2025-11-12

Ar-Raya Newspaper:Ar-Raya Miscellany – Issue 573

O people of Sudan: How long will the conflict in Sudan and elsewhere remain fuel for international ambitions and their struggle with their malicious plans, interventions, and supplying the conflicting parties with weapons to completely control it?! Your women and children have been suffering for more than two years from this bloody conflict that only serves the interests of the West and its allies in controlling the fate of Sudan, which has always been coveted for its location and wealth, so it is in their interest to tear it apart and fragment it. The Rapid Support Forces' seizure of Al-Fashir is just another episode in these plans, as America wants to carve out the Darfur region and concentrate its influence in Sudan and eliminate British influence in it.

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The Goal of Ortagus' Visit

to Lebanon!

In light of the American offensive against Lebanon and the region with the project of normalization and surrender, and the US administration's endeavor under Trump and his team to bring more rulers of Muslim countries into the Abraham Accords, the visit of the American envoy Morgan Ortagus to Lebanon and the usurping Jewish entity comes, loaded with political, security, and economic pressures, threats, and conditions on Lebanon, noting that this visit coincided with the visit of the Secretary-General of the Arab League and the Director of Egyptian Intelligence, apparently to serve the same direction.

In response to these visits, a media statement from the Media Office of Hizb ut-Tahrir in Wilayah Lebanon affirmed the following:

First: The interventions of America and its followers in Muslim countries are to serve the interests of America and the Jewish entity, not to serve our interests, especially since America is the first supporter of the Jewish entity in politics, economy, finance, weapons, and media, openly and publicly.

Second: The envoy's visit is not a neutral visit, as some may imagine! Rather, it comes in the context of a clear American policy in the region that supports the Jewish entity and contributes to enabling it militarily and politically, and what the American envoy offers is only an imposition of hegemony, a consecration of subservience, and a diminution of sovereignty, which is a form of surrender and submission to the Jews, and this is what God refuses for the people of Islam.

Third: Accepting these dictates and signing any agreements that consecrate foreign tutelage is a betrayal of God, His Messenger, the Ummah, and everyone who fought or sacrificed to remove this usurping entity from Lebanon and Palestine.

Fourth: Dealing with the Jewish entity is a crime in the legal sense for the vast majority of the people of Lebanon, Muslims and non-Muslims, even in the positive law to which the Lebanese authority resorts, or human law in general, especially after the criminal entity committed genocide in Gaza, which it has not and will not hesitate to do in Lebanon and other Muslim countries.

Fifth: The American campaign and offensive on the region will not pass, and America will not succeed in its endeavor to shape the region as it desires, and if it has its project for the region, which is based on colonialism, plundering peoples, misleading Muslims, and even taking them out of their religion by calling for the (Abrahamic religion), then Muslims, in return, have their project promised by God Almighty; the project of the Second Khilafah according to the method of Prophethood, which has become very close, God willing, and this project is the one that will redraw the region, and even the entire world, anew, in fulfillment of the saying of the Messenger ﷺ: "Indeed, God showed me the earth, and I saw its east and its west, and my nation will reach what was shown to me of it." Narrated by Muslim, and the Jewish entity will be eliminated as the Messenger of God ﷺ foretold in his hadith: "The Hour will not come until the Muslims fight the Jews and the Muslims kill them..." Agreed upon.

In conclusion, Hizb ut-Tahrir/ Wilayah Lebanon continues to adopt the task of repelling America's campaign and offensive of normalization and surrender on Lebanon and the region, and nothing will deter it from doing so, and we warn the Lebanese authority against following the path of normalization and surrender! And we call on it to seek refuge in its people to confront that, and not to play around with the matter under the pretext of borders or reconstruction and the influence of the international system, ﴿And Allah is predominant over His affair, but most people do not know.﴾.

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A Delegation from Hizb ut-Tahrir/ Wilayah Sudan

Meets with a Number of Dignitaries from the City of Al-Ubayyid

A delegation from Hizb ut-Tahrir/ Wilayah Sudan, on Monday, November 3, 2025, visited a number of dignitaries from the city of Al-Ubayyid, the capital of North Kordofan. The delegation was led by Professor Al-Nazeer Muhammad Hussein Abu Minhaj, a member of the Hizb ut-Tahrir Council in Wilayah Sudan, accompanied by Engineer Banqa Hamid and Professor Muhammad Saeed Boukeh, members of Hizb ut-Tahrir.

The delegation met with:

Professor Khalid Hussein - Head of the Democratic Unionist Party, Jalaa Al-Azhari wing.

Dr. Abdullah Youssef Abu Seil - Lawyer and Professor of Law at universities.

Sheikh Abdul Rahim Jouda - From the Ansar al-Sunna group.

Mr. Ahmed Muhammad - Suna News Agency correspondent.

The meetings touched on the topic of the hour; the fall of Al-Fashir and the accompanying crimes of the militia against the people of the city, and the betrayal of the army leaders, who did not fulfill their duty towards the people of Al-Fashir and lift the siege on them, while they were capable of doing so throughout the period of the siege, and the repeated attacks on them, more than 266 attacks.

Then the delegation handed them a copy of the publication of Hizb ut-Tahrir/ Wilayah Sudan entitled: "The fall of Al-Fashir opens the way for America's plan to carve out the Darfur region and concentrate its influence in Sudan. How long will we be fuel for the international conflict?!" Their reactions were excellent and they called for the continuation of these meetings.

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"Phoenix Express 2025" Exercises

A Chapter in Tunisia's Submission to American Hegemony

Tunisia's preparation to host the new version of the multilateral naval exercise "Phoenix Express 2025" during the month of November comes, which is the exercise that the US Africa Command has become organizing annually after the regime in Tunisia involved the country by signing with America, on 2020/09/30, a military cooperation agreement, which US Secretary of Defense Mark Esper described as a roadmap that lasts for ten years.

In this regard, a press statement by Hizb ut-Tahrir / Wilayah Tunisia reminded that the party clarified when this dangerous agreement was signed that the matter goes beyond traditional agreements, as America is drawing up a huge project that requires 10 full years to complete, and that the roadmap, according to America's claim, is related to border control, port protection, combating extremist ideology, and confronting Russia and China, and this means, with all impudence, a diminution of Tunisia's sovereignty, but rather it is direct tutelage over our country.

The statement affirmed that Hizb ut-Tahrir in Wilayah Tunisia, despite the harassment, arrests, and military trials that our youth are subjected to as a result of their speaking out with the word of truth, reaffirms its call to dissolve this ominous colonial agreement that is intended to drag the country and the entire Islamic Maghreb and adapt them to the malicious American policies, and also repeated its appeal to the people of power and strength in Tunisia and all Muslim countries to pay attention to what the enemies of the Ummah are plotting against them and luring them to, and that the Shariah duty requires them to support their religion and repel the enemy lurking in their countries and their Ummah, and to exalt the word of God by supporting those who work to implement His Shariah and establish His state, the Second Khilafah Rashidah according to the method of Prophethood promised soon, God willing.

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America's Disdain for Its Citizens

Leaves Women and Children Hungry

The Supplemental Nutrition Assistance Program (SNAP) is a federal program that helps low-income individuals and families and people with disabilities obtain electronic benefits that are used to purchase food and beverages, except for alcohol, and plants to grow their own food. Reports indicate that 42 million Americans rely on SNAP benefits to feed themselves and their families. 54% of adults who receive food assistance are women, most of whom are single mothers, and 39% are children, meaning that nearly one in five children relies on these benefits to ensure they don't go hungry. The federal shutdown also forced some states to find other ways to fund free and reduced-price food programs in their educational areas, so that children who rely on food during the school day would not have to live without food. As a result, the many food banks spread throughout the country post pictures of empty shelves and ask people to donate food and grocery store gift cards to meet the increasing demand for food.

Accordingly, the Women's Section in the Central Media Office of Hizb ut-Tahrir said in a press statement: We may ask how can the richest country in the world ignore the fact that millions of its most vulnerable citizens will not find enough food? You may wonder where America spends its money, even during the shutdown? Well, instead of ensuring that Americans get enough food, they send billions of dollars to the Jewish entity to kill Palestinians. He is a ruler who sees building a luxurious celebration hall as more important than anything else, while other deputies find that their personal investments are given priority over the well-being of the people they are supposed to represent! As you can see, capitalist America has never been interested in caring for the affairs of its citizens, but was only interested in providing military and financial support to those who deprive children around the world of their right to security, food, shelter, and education, which are basic necessities. Therefore, it leaves children in America also suffering from hunger and insecurity, and lacking adequate education and health care.

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"Every Muslim is inviolable to another Muslim: his blood, his wealth, and his honor."

To every Muslim, to every officer, soldier, and policeman, to everyone who owns a weapon: God Almighty has granted us reason to think with, and obligated us to use it correctly, so one should not act, perform any action, or utter any statement before knowing its Shariah ruling. Knowing the Shariah ruling requires understanding the reality to which the Shariah ruling is to be applied, so the Muslim must enjoy political awareness, so that he perceives matters as they really are, and is not carried away by the plans of the colonizing disbelievers who do not want good for us or for Islam, and who strive with all their might, cunning, and ingenuity to tear us apart, control our countries, and plunder our capabilities and wealth. How can a Muslim accept to be a tool in the hands of those colonizing disbelievers, or an executor of the orders of their agents?! Does he covet a little of the fleeting pleasures of this world, so he loses his Hereafter and is among the people of the Fire, abiding therein forever, cursed and expelled from the mercy of God? Does a Muslim accept to please any of the created, helpless humans while angering God Almighty, in whose hand is this world and the Hereafter?!

Hizb ut-Tahrir calls you to raise the level of political awareness, adhere to the rulings of God Almighty, and work with it to rule according to what God has revealed, so that it removes the hands of the colonizing disbelievers and their agents from you, and thwarts their plans in our countries.

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You Are the Ones Who Starved the Muslims

O Masoud Pezeshkian!

Under this title, the Central Media Office of Hizb ut-Tahrir said in a press statement: Iran has announced the bankruptcy of the largest private bank in it, which is (Ayandeh) Bank, and this bank has 270 branches in Iran, after the debts on it increased to five billion dollars. What is surprising in the matter is the criticism of Iranian President Masoud Pezeshkian for administrative failure, saying: "We have oil and gas, but we are hungry"!

The statement affirmed: The person responsible for that administrative failure that the Iranian president is talking about is the president himself, so why is the Iranian people hungry - O Masoud Pezeshkian - and you have oil, gas, and other wealth and minerals? Is it not a result of your foolish policies? Is it not due to your distance from ruling by Islam? The same can be said about the rest of the Muslim countries. The foolish rulers in them squander the Ummah's huge wealth, enable the colonizing disbelievers to access it, and deprive the Ummah of that wealth, then one of them comes to justify the reason for the hunger by saying that it is an administrative failure!

In conclusion, the press statement addressed the Muslims: The foolishness of these rulers who are in charge of your affairs has become clear to every sighted person, and they are not worthy of taking charge of it. It is time for you to restrain them, for this is the ruling of the fool; preventing him from disposing of money and restraining him, and pledge allegiance to one Khaleefah who rules you with the Shariah of God Almighty, and cancels the riba system in your countries so that your Lord Almighty and His Messenger ﷺ will be pleased with you, and restores your plundered wealth, and restores your dignity and honor. Here is Hizb ut-Tahrir, the pioneer whose people do not lie, calling you to work with it to establish the Second Khilafah Rashidah according to the method of Prophethood.

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To the Sincere Descendants of the Ottoman Heroes

We ask the sincere descendants of the Ottoman heroes: What happened, O great army?! What is this humiliation and weakness?! Is it due to a lack of equipment and supplies?! How can this be, when you are the strongest army in the Middle East? And you rank eighth among the strongest armies in the world, while the Jewish entity ranks eleventh. That is, you are ahead of it in all respects, so how can you accept humiliation?!

The Jihadi army may lose a battle, but it will not lose a war; because the determination that ignited its leaders and soldiers is the same determination that created Badr, Hunayn, and Yarmouk, it is the same determination that opened Andalusia and made Muhammad al-Fatih determined to conquer Constantinople. And it is the same determination that will liberate Al-Aqsa and restore things to their rightful place.

We affirm that the national military doctrine has been lost and not preserved. It is a doctrine of weakness and failure, which diminishes the prestige of the army because it does not open the door to fighting in the way of God. It is a doctrine that made the military a job to receive a salary, so conscription became a heavy burden on the hearts of young people, who avoid it. It is a doctrine that made military ranks for boasting, so the army was emptied of its true meaning.

We in Hizb ut-Tahrir call on our sons in the Turkish army not to continue abandoning Jihad and not to support the Muslims who are crying out for their help; because that is an evil, and what an evil... So do not abandon the pinnacle of this religion until you win in both worlds.

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Trump's Attack on the Democrats

A Coup Against Democracy and an Exposure of Its Falsehood

(Al Jazeera Net, Wednesday, Jumada Al-Akhira 14, 1447 AH, 2025/11/5AD) US President Donald Trump launched a series of sharp statements, criticizing the performance of the Democrats, the voting system, immigration policies, and the government shutdown, stressing that the time has come for the Republicans to take decisive steps (Al Jazeera Network).

Ar-Raya: Since Donald Trump's rise to the American political scene, the world has witnessed a wide debate about the nature of his speech and his style in dealing with his political opponents. Between those who see him as a reformer who wants to restore America to its "lost greatness," and those who consider him a direct threat to the values of democracy, the most important question remains: Is Trump's continuous attack on the Democratic Party merely a normal political conflict, or is it in its essence a coup against American democracy itself?

Trump's attack on the Democrats comes as an internal explosion in the heart of the American system, as it exposes the real conflict between the elite class that controls the joints of the state, and the American people who feel that their voice is no longer effective in the political decision.

Trump's attack on the Democrats, although it seems like a rebellion against American political norms, is in fact a mirror that reflects the crisis of Western democracy itself. It is not only a coup against democracy, but an exposure of its falsehood, and that it is a dead person waiting for the Khilafah state to announce its death and bury it soon, God willing. Our responsibility is to be certain that the path to renaissance is not by imitating