Showing posts with label Silver. Show all posts
Showing posts with label Silver. Show all posts

Saturday, October 7, 2023

Islam and the Future of Money | Imran N. Hosein

The modern monetary system emerged out of the Bretton Woods Conference of 1944 and collapsed in August 1971. It was then replaced by the petro-dollar monetary system. The ‘Ulama - Islamic scholars - lack both the knowledge and the tools of analysis with which to be able to come to the conclusion that the petro-dollar monetary system is bogus, fraudulent, and Haram - unlawful and impermissible in Islam. Unless and until the ‘Ulama of Islam study international monetary economics and summon the courage to stand up for truth and justice (al-M’aruf) while exposing and opposing all that is false and unjust (al-Munkar), it would remain impossible for Muslims to escape from this poisonous financial web which has been spun around us.

» No one in history has ever experienced the unique injustice and oppression that mankind now experiences by the
international monetary and banking system. Allah Most High made the use of gold and silver as money Halal  - lawful.
Whoever makes Haram - unlawful - what Allah has made Halal, has committed the ultimate sin of Shirk , blasphemy. «
Sheikh Imran N. Hosein

We need to confront our ‘Ulama with the argument that the Shari’ah - the sacred law of Islam - cannot be enforced unless and until we restore Dinar and Dirham - gold and silver - as money, and we cannot restore Dinar and Dirham as money while yet we remain member-states of the International Monetary Fund. This is because the Articles of Agreement of the IMF, mysteriously so, prohibit the use of gold as money. If the world is to ever know why the Zionist-fashioned IMF prohibited the use of gold as money, the question must be put to Dajjal, the Antichrist. Dajjal needs a fraudulent monetary system so that he can reduce one part of the world to abject poverty and financial slavery, while enriching that part of the world which supports him and works for him. 


 

Tuesday, August 23, 2022

Who Ever Sets the Price of Gold and Silver | Stephen Mitford Goodson

There was an increase in trade and Rome became one of the most prosperous cities in the ancient world. [...] bronze coins represented national money and were paid into circulation by the state and each was only of value in as much as the symbols on which its numbers were recorded, were scarce or otherwise. This money was thus based on law rather than the metallic content. [...] This can be considered as an early example of the successful use of fiat money.

While fiat money is much criticised in some quarters, for example by the followers of Austrian economist Ludwig von Mises, there is nothing wrong with it, as long as it is issued by government, not by private bankers, and is carefully protected against counterfeiters. Non-fiat money, in contrast, has the serious drawback that who ever sets the prices of gold and silver, i.e. private bankers, can control the nation’s economy.

[...] in September 45 BC, Caesar found the streets and cities crowded with homeless people, who had been forced off the land by usurers and land monopolists. 300,000 people had to be fed daily at the public granary. Usury was flourishing with disastrous consequences. [..] Caesar fully understood the evils of usury and how to counter them. He recognized the profound truth that money is a national agent, created by law for a national purpose, and that no classes of men should withhold it from circulation so as to cause panics, in order that speculators could advance the rates of interest, or could buy up property at ruinous prices after such panic.

Caesar introduced the following social reforms:

  1. Restoration of property was done at the much lower valuations which held prior to the civil war (49-45 BC).
  2. Several remissions of rents were granted.
  3. Large numbers of poor citizens and discharged veterans were settled on allotments.
  4. Free housing was provided to 80,000 impoverished families.
  5. Soldiers’ pay was increased from 123 to 225 denarii.
  6. The corn dole was regulated.
  7. Provincial communities were enfranchised.
  8. Confusion in the calendar was removed by fixing it at 365¼ days from 1 January 44 BC.

His monetary reforms were as follows:

  1. State debt levels were immediately reduced by 25%.
  2. Control of the mint was transferred from the patricians (usurers) to government.
  3. Cheap metal coins were issued as the means of exchange.
  4. It was ruled that interest could not be levied at more than 1% per month.
  5. It was decreed that interest could not be charged on interest and that the total interest charged could never exceed the capital loaned (in duplum rule).
  6. Slavery was abolished as a means of settling debt.
  7. Aristocrats were forced to employ their capital and not hoard it. 
These measures enraged the aristocrats and plutocrats whose “livelihood” was now severely restricted. They therefore conspired to murder Caesar, the hero of the people. 
 
The 'Ides of March' Denarius (43/42 BC), a declaration of the Republic's 'liberation' from tyrannical Caesar.
Ironically, Brutus appears on the obverse professing he killed Julius Caesar on the Ides of March.
This is one of the most sought-after coins from the Roman world.

Quotes from:
 
See also:

Stephen Mitford Goodson (1948 - 2018) was a South African banker, author and politician who was the leader of South Africa's Abolition of Income Tax and Usury Party. He stood as a candidate for the Ubuntu Party in the 2014 General Elections.

Sunday, July 3, 2016

Gold + Silver vs COT

The latest Commitments of Traders (COT) report suggests Gold and Silver could see a pullback.
Source: Fibbo SR (Jul 03, 2016)

Wednesday, May 21, 2014

Trading with Nothing for Something | Islamic Perspectives on Fiat Money

Money must have intrinsic value ... Fiat currency and
banking are acts of crime ...
(HERE)
 
Asatizah of Al-Munawwar (2013) - The Dazzling Proof for the Return of Our Pure Money. The Judgment on Fiat Currency:

"... Money must have intrinsic value due to it being the measure and store of the value of things. A form of 'money' that is open to total artificial manipulation and subjective valuation will not be able to perform these two functions of money.

... Fiat currency and banking are acts of crime, in fact, among the worst crimes in human history. Banking institutions must be held accountable for the continuous campaigns of wars and colonialism – today, corporate colonialism – which are undeniably their biggest and lucrative money-making opportunities. They have left behind clear fingerprints and traces for the world to see. They are also directly responsible for the impoverishment of countries shackled by unpayable debts owed to internationally recognized bloodsucking money lenders and financiers.  


... The monetary system based on fiat currency ensures that the amount of debts created will always be far more than the actual money supply, which means that many will never be able to repay the original sum, what more the interest. Many will be forced to default, declare bankruptcy and watch as their possessions are confiscated before their eyes. This does not happen to individuals only, but also to countries and nations which are forced to sell their resources for a measly price due to their inability to repay their international debts.

Muhammad Mahathir - Malaysian Prime Minister (2008):
"Quantitative Easing is a privilege for the rich nations only. When Greece lost money, it could not print currency notes or issue cheques to pay debts.Greece needs to borrow money from European countries to repay loans. Again no currency notes would be involved. The amount lent would be credited to the Central Bank of Greece which then would issue cheques to the commercial banks... Rightly both the United States and United Kingdom should be bankrupt. To recover they should be selling all their banks, industries and other assets at fire-sale prices. That was what the Asian countries were forced to do after the currency traders forced many of them almost into bankruptcy. But the bankrupt powerful countries of the West don’t have to do that. They carry out Quantitative Easing, print money and refinance their banks and bankrupt industries. And they talk about transparency in business practice."
 
... One-third of the world's population now lives in a state of poverty. This is not due to the lack of natural resources or intellectuals, but due to the mischief of the robbers, i.e., the international bankers who went around the world selling their loans while hiding behind the pretext of offering technological progress and modernity to the 'backward' countries.

... The criminal act of banking (lending other people’s money on interest without their consent and earning through that without any risk of loss or without any labor involved) cannot be separated from fiat currency. Without fiat currency, banks today will not be able to function as how they are functioning. From the very beginning, it was the introduction of promissory notes (which have now devolved to fiat currency) that allowed the banks to engage in this misuse of the money that was entrusted to their safe-keeping by the unsuspecting masses. Both the practice of banking and the use of fiat currency are based strongly on Riba [usury].

... Fiat currency today cannot be a measure of value or a store of value as it constantly loses its illusory 'value' due to it not having natural or intrinsic value. In reality, it is nothing presented as something. This is why fiat money and chronic inflation are not separable; both are the results of each other. Nothingness will only return to nothingness and history is a witness to this.

Imran N. Hosein  (2013) - The International Monetary System:
"When the poor are permanently poor, and the rich permanently rich, that is oppression! All around the world today that oppression exists, and is constantly increasing - the poor grow poorer and the rich richer. Riba [usury] is the cause! A predatory global elite, centered in the West, but also around the world, is constantly sucking the wealth of mankind and impoverishing the masses through riba. Their ultimate objective is to utterly enslave all of mankind in a new sophisticated slavery.Political, legislative, judicial and legal systems, the media etc.,  are all created by the oppressor, and all function to preserve the system of economic oppression. Television is used to transport the masses to fantasy-land so that they remain unaware while riba is used to enslave them."
 
[...] When inflation occurs, the purchasing power of the money we hold (fiat currency) falls, that is to say, the money that we use today buys lesser and lesser constantly. As time passes, the purchasing power of money only falls, hence people can only buy lesser with the money they have.

 [...] This fall in its purchasing power does not happen based on real situations where the money supply circulating in the nation naturally exceeds the goods and services available in the same nation. The resultant increase in the price of goods and services is due to the artificial creation of money out of nothing. This artificial creation of money out of thin air - one of it - is due to what bankers call Fractional Reserve Banking. This has never ceased to happen since banking took control of the money supply of a country and as a result, the price of goods and services are deliberately forced to be raised and as an inevitable result, the value of the money in our possession (purchasing power) keeps falling. This is intended rip off [Al-Bakh].

Riba-nomics
 
[...] Therefore, trading with fiat as a means of exchange, in reality, is trading with nothing for something. There is no equality; it is zulm [oppression], a clear act of injustice especially from the part of the issuer of the money.

[...] We do not need to bring down, attack or destroy the banking industry. The usurers will themselves bring the banks down since usury is baatil [falsehood], and baatil is bound to perish. What we have to do is to bring the haq [truth] and haq does not need the majority to give it any extra strength.

[...] Many shops and traders around the world have started to accept the Dinar [gold] and Dirham [silver] as payment. Some have also started using it as their mahar and some have went a step further by signing business contracts with the Dinar and Dirham being the capital as well as the profit.

Tarek El Diwany, 2014: "An economically educated person should ask why a man would go to prison for creating money at home, while the bankers do it for a living. Still the question goes unanswered. Why does the crime of counterfeiting become a respectable profession through the act of incorporation as a limited company? Can you give me one example in Shari’ah where something that is haram [forbidden] becomes halal [legal] by the granting of a commercial license?