Gulf petro-powers to launch currency in latest threat to dollar hegemony

(TELEGRAPH) — The Arab states of the Gulf region have agreed to launch a single currency modelled on the euro, hoping to blaze a trail towards a pan-Arab monetary union swelling to the ancient borders of the Ummayad [sic] Caliphate.

via Gulf petro-powers to launch currency in latest threat to dollar hegemony – Telegraph.

PID COMMENT: The Umayyad Caliphate (spelled incorrectly in the Telegraph article) was the second kingdom following the death of Muhammad. According to Wikipedia, “[i]t was ruled by the Umayyad dynasty, whose name derives from Umayya ibn Abd Shams, the great-grandfather of the first Umayyad caliph. Although the Umayyad family originally came from the city of Mecca, Damascus was the capital of their Caliphate.”

If Damascus was the capital then, could it be the Islamic nations are moving toward a new caliphate ruled also from that oldest of all cities? If so, they may find themselves without a capital soon. Consider God’s prophecy, ‘the burden of Damascus’, in Isaiah 17:1:

Behold, Damascus is taken away from [being] a city, and it shall be a ruinous heap.

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