Odd Lots: This Is How Monetary Policy Works in The Islamic State

Or, why terrorists love gold.

Islamic State fighter waves a flag while standing on a captured government fighter jet in Raqqa, Syria, 2015.

Source: Universal History Archive/UIG via Getty Images

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Every week, hosts Joe Weisenthal and Tracy Alloway take you on a not-so-random walk through hot topics in markets, finance, and economics.

Odd Lots is breaking bad. In our first ever series, we look into the intersection of money, markets and crime.

The Islamic State is mostly discussed in terms of its threat to the safety and security of the world. But as a geopolitical entity, its leadership has to deal with mundane considerations such as operating a financial system. So how does it work? We speak with Graeme Wood, the author of a new book about ISIS, about the monetary system and how it fits into ISIS ideology. We also discuss how ISIS uses the internet to promote its ideology and to recruit.


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