Fatwa against the dollar?
To all intents and purposes, the Wahabi religious establishment of Saudi Arabia has just issued a fatwa against the US dollar. This bears watching.
A message issued by 26 leading clerics warns that inflation has reached intolerable levels in the Gulf kingdom. While it does not vilify the dollar explicitly, the apparent political aim is to undermine the country’s dollar peg. “The rulers should seek to try to remedy this crisis in a way that would ease people’s suffering.”
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