09-26-2003, 09:25 PM
Hi fellows
Islam provides ways for financing to happen free from interest, which would bring about much greater justice and indeed really produced Ewealth in the world. Wealth comes from applying our minds and bodies to developing the natural world so as to produce benefits for people. It doesnât come from the endless speculations of systemically crisis ridden financial markets, with their booms and busts created from fictitious wealth. Interest, through its legal separation of investing money and the use of that money, detaches the financial markets from physical, human, and moral realities. Treasury bonds are a cornerstone of this system if not the very foundations. Without treasury bonds, the financial world would lose the most certain form, of interest based investment. Without the right to buy treasury bonds for invented money, the banking elite would lose one of their most profitable (literally) money making schemes.
This will not happen easily of course, the power of this elite is established not by a mythically benevolent invisible hand of the market, but by cold hard power politics. The power of the banking elite is quite capable of persuading rulers all over the world to carry out all kinds of oppression if it keeps the interest payments flowing.
Sajjad dar
Islam provides ways for financing to happen free from interest, which would bring about much greater justice and indeed really produced Ewealth in the world. Wealth comes from applying our minds and bodies to developing the natural world so as to produce benefits for people. It doesnât come from the endless speculations of systemically crisis ridden financial markets, with their booms and busts created from fictitious wealth. Interest, through its legal separation of investing money and the use of that money, detaches the financial markets from physical, human, and moral realities. Treasury bonds are a cornerstone of this system if not the very foundations. Without treasury bonds, the financial world would lose the most certain form, of interest based investment. Without the right to buy treasury bonds for invented money, the banking elite would lose one of their most profitable (literally) money making schemes.
This will not happen easily of course, the power of this elite is established not by a mythically benevolent invisible hand of the market, but by cold hard power politics. The power of the banking elite is quite capable of persuading rulers all over the world to carry out all kinds of oppression if it keeps the interest payments flowing.
Sajjad dar