As you are aware, we now have our Dinar and Dirham medallions in place, which was the first building block for economic empowerment. It is now time to build the rest of our economic edifice on top of these. In the coming days, you will hear about several different programs that we are starting. Today, we will introduce the first one, which is our barter program.

A fact which both our friends in the American Open Currency initiative and the global Dinar movement have long realized, is that saving one’s assets in bullion, while a worthwhile objective on its own, is still very different from actually conducting trade in these. Our aim is not to just have people invest in metal, but to actually use it in barter. We want to have people to buy and sell things using these medallions. And so to encourage this, we are offering significant discounts in medallion sales to those people who show active participation in implementing trade.

The program will work as follows:

a) Anyone can register in our barter program by emailing us at info@dinarwakala.com.

b) Conditions for enrollment are:

i) Participant must offer at least one item of common use for sale against Dinars and Dirhams. “Common use” will be subjectively evaluated by Dinar Wakala.

ii) The item offered must be continuously available i.e. something that can be repeatedly supplied if demanded. One off sales of house-hold goods do not apply.

iii) Currently, only products will be considered, and not services.

iv) Pictures of products must be available, so they can be displayed on our marketplace website.

v) For buyers willing to pay shipping cost, shipping and delivery should also be offered.

vi) Be willing to accept all kinds of Dinars, Dirhams and other AOCS medallions of same composition as payment against these items.

vii) Item must be competitively priced (again something which Dinar Wakala will evaluate)

Hint: If you are not a supplier of products yourself, you can convince a friend or a shopkeeper, and obtain the program benefits for both of yourselves.

c) In return for becoming a registered seller accepting bullion barter, Dinar Wakala will offer the following incentives:

i) At least 50 cent discount per piece on Silver Dirhams, or “price matching” to any other silver coin from any other vendor in this denomination (3 grams).

ii) At least 5 Dollar discount on Gold Dinar, or “price matching” to any other gold coin from any other vendor in this denomination (4 grams or less)

The rationale behind this program is that the biggest hindrance to “sound money” usage in the community is the “chicken and egg” problem, i.e. does the egg come first to hatch a chicken, or the chicken come first to lay the egg. In other words, will people first buy the medallions so that sellers start accepting them, or will sellers start accepting them for people to buy them? It appears that neither of the two comes first, but both have to grow organically such that a critical mass is obtained which is self-sustaining. The aim of this program to artificially achieve this critical mass by offering incentives, which will eventually not be needed as the idea catches on.

We would also love to hear feedback from all of you regarding the sanity (or insanity of this program, so it can be further improved.

Thanks

Asif Shiraz

Dinar Wakala LLC